OUR STAFF REPORTER ISLAMABAD - The Revenue Advisory Council (RAC) Monday discussed the taxation measures for the upcoming financial year 2011-12, especially the withdrawal of tax exemption given to the several sectors and commodities. Dr Hafeez Pasha chaired the meeting of Revenue Advisory Council (RAC). The Council discussed the situation after the meeting with International Monetary Fund (IMF), as the government agreed with IMF to eliminate all tax exemption in the annual budget 2011-2012. It might be mention here that government is all set to withdraw tax exemptions given to fertilizer, poultry feed and many other items. The removal of tax exemptions would generate some Rs 90 billion additional revenue in the next financial year. The government has fixed the revenue collection target at Rs 1952 billion for the next fiscal year, which is a challenging target for the government to achieve, as the government has made Rs 1588 billion as base for the coming year, which seems impossible to achieve.