Bangladesh, Nov. 4 -- Government's revenue authority has urged the International Monetary Fund to adopt a phased approach to fiscal reforms as the IMF pushes VAT overhaul, fuel-tax hike and energy-subsidy cuts as credit conditions.

Advertisement In support its request for a soft approach to reform at this crucial hour, the National Board of Revenue (NBR) cited mounting economic pressure arising from the need to finance energy imports amid the ongoing Mideast crisis.

At a meeting Tuesday, the NBR's policy wings told a visiting IMF mission that withdrawing all tax exemptions within a year would not be feasible under the country's prevailing economic circumstances.

The meeting was held with the review mission on Bangladesh's request for ...