ISLAMABAD:

Finance Minister Muhammad Aurangzeb on Wednesday reaffirmed Pakistan's commitment to raising tax collection to 11% of GDP by the end of the fiscal year, despite the Federal Board of Revenue (FBR) missing its quarterly target by Rs198 billion.

Aurangzeb told reporters after a parliamentary committee meeting that negotiations with the IMF were progressing in the "right direction."

Separately, Pakistan informed the IMF that its requirement to make public the asset declarations of senior public officials — including beneficially owned assets and those held by family members — would apply only to civil servants, not the judiciary or other state institutions.

"We are very clear that we remain committed to achieving the FBR's tax-to-GDP ratio of 11% by the end of this fiscal year,"

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