The interim government on Thursday approved four development schemes costing Rs126 billion. Also, it gave the go-ahead for a costly loan of $300 million for improving tax compliance, an objective that does not need any money but a strong will and an efficient tax department.
The Central Development Working Party (CDWP) approved those schemes, including the concept clearance for the Domestic Resource Mobilisation Reform programme, funded by ADB with a $300 million loan at over 6% interest in dollar terms.
Last week, interim Finance Minister Dr Shamshad Akhtar requested the ADB to approve the project in September, but the lender disagreed due to some procedural issues. The loan is expected to be approved by November.
