Pakistan pushes tax overhaul, AI audits at IMF meetings

Pakistan’s Finance Minister Muhammad Aurangzeb pledged tax reforms and artificial intelligence-powered audits during a panel discussion on “Revenue Mobilization in the Medium Term” at the International Monetary Fund’s 2025 Spring Meetings.

The finance minister outlined measures to broaden the tax base, increase contributions from agriculture, real estate, and retail sectors in line with their share of GDP, and modernize the Federal Board of Revenue (FBR) through technology and process improvements.

He emphasized reducing direct interaction between taxpayers and collectors while strengthening enforcement and compliance with AI-driven audits.

Aurangzeb also stressed the importance of trust between tax authorities and citizens.

Later, he attended the G-24 Finance Ministers and Central Bank Governors’ Meeting as the group’s second vice chair. In his remarks, he highlighted Pakistan’s macroeconomic stability, citing banking sector resilience and ongoing structural reforms.

The minister called for sustained reforms amid geopolitical shifts, protectionism, and external shocks, including trade tariffs. He advocated for regional trade corridors, improved connectivity, and South-South cooperation to boost investment and trade. Additionally, he urged greater financial and technical support for developing nations facing global economic challenges.