ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has assured that the government is not planning to introduce a mini-budget following discussions with the International Monetary Fund (IMF).
He expressed confidence that the Federal Board of Revenue (FBR) would achieve its tax collection target of Rs12,970 billion.
Speaking to the media on Saturday, the minister highlighted that Pakistan has successfully met its primary surplus target, and the cabinet has approved the National Fiscal Pact, eliminating the need to revise the NFC. Tax collections, he stated, will be enhanced through enforcement and administrative measures.
He acknowledged the support of provincial governments, especially Sindh and Khyber Pakhtunkhwa, in achieving fiscal goals, noting their cooperation in matters of national interest.
Commenting on the IMF discussions, Aurangzeb described the talks as “constructive and productive,” adding that while virtual negotiations are ongoing, some matters required in-person meetings. He emphasized that the IMF visit aimed to build confidence rather than review the economy. The IMF delegation reportedly listened attentively to Pakistan’s stance and appeared satisfied with the discussions.
The IMF, in a statement, urged Pakistan to expand its tax base by targeting untapped revenue sources, a step crucial for addressing challenges in tax collection. It also clarified that such staff visits are standard for countries undergoing semi-annual programme reviews, facilitating dialogue on economic developments and reform plans.
Separately, the finance minister acknowledged setbacks such as the failed privatization of Pakistan International Airlines, stressing the importance of learning from such experiences.
In international developments, concerns about judicial changes in Pakistan were raised in the UK Parliament. British Foreign Secretary David Lammy emphasized the need for Pakistan to uphold civil and political rights, particularly regarding fair trials and due process. Minister Falconer, responsible for Pakistan in the Foreign, Commonwealth and Development Office, plans to visit Pakistan later this year and meet with parliamentarians to discuss these issues.
The finance minister’s remarks reflect a broader effort to balance economic reforms, ensure fiscal discipline, and address international concerns about Pakistan’s governance and human rights commitments.
