ISLAMABAD, Nov 22: The Central Board of Revenue (CBR) has decided to set up monitoring and evaluation system for tracking progress of steps taken for the re-structuring of tax administration.

An official source in the CBR told Dawn on Saturday that the World Bank is likely to approve a grant of Rs58 million for the project, which is expected to be released by mid-January 2004.

According to the official, all necessary requirements for the fund had already been fulfilled by the tax authorities.

Elaborating further, the official said the tracking system would overview the progress of agreed performance indicators related to re-structuring by December 30, 2003.

With these funds, the selected officials of the tax administration would be given special training for specialized postings in Large Taxpayers Units (LTUs) and Small and Medium Taxpayers Units (MTUs).

The tax authorities have already completed draft bidding documents for LTUs and MTUs.