LAHORE: The Standing Committee of Punjab Cabinet on Finance has given approval to a proposal to get $100 million loan from the World Bank for tax reforms.
The decision to this effect was taken on the directives of Punjab Chief Minister Shehbaz Sharif. The amount of loan would be used under the Punjab Tax Revenue Mobilization Plan for which a committee has been formed. Shehbaz Sharif will be the convener of the committee.
The chief minister has directed the committee to ensure that the loan amount be used for tax reforms only and not for budget support.