Mini-Budget and New Tax Measures Ruled Out in Talks with IMF

ISLAMABAD: Pakistan has reportedly made significant progress in ongoing negotiations with the International Monetary Fund (IMF) for the release of a $1.2 billion tranche under its loan programme, with the possibility of a mini-budget and new taxes said to have been ruled out.

According to sources, the IMF is satisfied with the economic policies of Prime Minister Shehbaz Sharif and their implementation. The Fund has also reportedly expressed satisfaction with the performance of Finance Minister Muhammad Aurangzeb.

Sources said the Federal Board of Revenue (FBR) achieved its tax collection target for the July-September period, helping address concerns over revenue performance and reducing the need for additional tax measures during the current fiscal year.

The FBR reportedly assured the IMF that Pakistan would meet its annual tax collection target. It also gave an assurance regarding the introduction of a new National Finance Commission (NFC) Award after December.

According to sources, the IMF has also expressed satisfaction with Pakistan’s economic growth and efforts to control the fiscal deficit despite the ongoing crisis in the Middle East.

Mini-Budget, New Tax Measures Ruled Out in Talks with IMF