ISLAMABAD - Economic wizards of the government on Monday will give detailed briefing to the PM Nawaz Sharif about the overall state of economy and the positive impact of the steps being taken by the government.

Led by Finance Minister Senator Ishaq Dar the team would comprise Secretary Finance Dr Waqar Masood, Chairman FBR Tariq Bajwa and other senior officials and it would brief the Premier on the affects of GSP plus facility given by the European Union on economy and the agreement reached with IMF, progress on the privatisation plan of the sick units and series of other steps taken by the govt to bring positive impact on economy. The finance minister is expected to inform the PM that SRO culture would be brought to an end by June 1027 and it would be ensured that there was no undesirable impact on the prices of food items and medicines.

The government has decided in principle to end tax exemptions on different items worth about Rs 150 billion and in line with the agreement with IMF, exemptions under income tax, custom, federal excise duty and sales tax would be withdrawn.  In future no sector or individual would be exempted from tax. The Prime Minister would be briefed about the sectors from which the tax exemption would be withdrawn.

The sources said that FBR is confident to achieve the target of bringing in 100,000 more people into the tax net. In this connection, notices are being issued to the non-tax filers.