<ul data-eligibleForWebStory="true"><li>The World Bank approved an additional $70 million credit for the Pakistan Raises Revenue project, raising the total funding to $470 million.</li><li>The financing aims to enhance Pakistan’s domestic revenue collection and improve tax compliance.</li><li>The project has helped the Federal Board of Revenue increase the tax base by 1.5 million new taxpayers, simplify the tax system, upgrade IT infrastructure, and establish data tools for better compliance.</li><li>These efforts have led to increased tax revenues, enabling greater allocation to social sector budgets, especially social safety nets.</li><li>The new funding will strengthen the FBR’s capacity through improved IT systems, advanced data analytics to combat tax evasion, and enhanced customs operations.</li><li>These enhancements are expected to promote transparency, accountability, and voluntary tax compliance within the FBR.</li><li>The initiative aligns with the World Bank Group's Country Partnership Framework for Pakistan (2026-2035) to raise the tax-to-GDP ratio to 15 percent by 2035.</li></ul>

World Bank Approves Additional $70 Million Credit

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