Pakistan Rules Out Mini-Budget Ahead of IMF Talks
No Mini-Budget Planned, Says FBR Chairman Ahead of IMF Visit
ISLAMABAD — Amid reports suggesting the government might introduce a mini-budget to fund flood relief through additional taxes on luxury and imported goods, Federal Board of Revenue (FBR) Chairman Muhammad Ashfaq Langrial has dismissed the speculation.
“There is no plan to introduce a mini-budget,” Langrial said, stressing that such a proposal is not under consideration.
Speaking ahead of the International Monetary Fund (IMF) mission’s visit to Pakistan, he noted that while various options for addressing flood-related damages have been discussed, the idea of raising revenue through a mini-budget has not been formally proposed.
Langrial also said it is too early to comment on any potential revision of the annual tax revenue target.
According to informed sources, the government is expected to request the IMF to lower the tax collection target for the current fiscal year by Rs300 billion, reducing it from Rs14.131 trillion to around Rs13.7 trillion.
“Efforts will be made to lower the tax target below Rs14 trillion for the current fiscal year,” the sources added.
The next round of IMF review talks is scheduled to begin on September 25. A successful review would clear the way for the IMF Executive Board to approve the next $1 billion tranche under the $7 billion Extended Fund Facility (EFF) program, under which Pakistan has already received over $2 billion in previous disbursements.
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