- The economic survey which will be unveiled on June 9 as part of budgetary preparations.
- No agreement concluded with the IMF on budgetary objectives in recent negotiations.
- Discussions with the IMF will continue until next week to finalize the budget details.
The federal government will now present the 2025-26 budget on June 10, a delay in relation to the previous announced date of June 2, when it has trouble finalizing the tax objectives with the International Monetary Fund (IMF), according to officials.
The news On May 9, the federal government should present the budget for the next financial year on June 2, with 921 billion rupees allocated to development projects, well below the minimum of 1,600 billion rupees deemed necessary by the Ministry of Planning.
The Fy2025 economic survey, a reference bulletin for the performance of various sectors of the economy for the outgoing financial year, will be unveiled one day before the budget, June 9, said the Ministry of Finance.
Discussions with the IMF compared to next year’s budgetary objectives are not resolved, sources saying that Thursday was the last scheduled discussion day.
After a morning tour, the talks between the government and the IMF resumed in the afternoon, but the officials confirmed that no pierced was reached during one or the other session.
The finance secretary led the Pakistan delegation during the negotiations, accompanied by senior officials, including the president of the Federal Board of Rété (FBR) and his team.
Sources have declared that the government had presented several proposals to soften the tax burden to employees and reduce the cost of reducing tax rates in the industrial sector.
A series of suggestions to reduce both development and non-development expenses has also been advanced, while the IMF was informed of plans to increase tax and non-tax income.
These included a framework for collecting agricultural income tax and strategies to improve provincial income.
The discussions will continue until next week, according to officials of the Ministry of Finance, who added that Pakistan is forced to consult the IMF while setting its budgetary objectives under the terms of the current loan program.
“Finally, the government will have to adapt to the IMF’s contribution while finalizing the budgetary objectives,” noted a source.
Negotiations are expected to continue next week.
The IMF board of directors approved a new $ 1.4 billion loan in Pakistan on May 9, on May 9, and approved the first $ 7 billion examination of its dollars program, releasing about $ 1 billion in cash.
“Pakistan’s political efforts in the (program) have already made significant progress in stabilizing the economy and the reconstruction of confidence, in the midst of a difficult global environment,” the IMF said in a statement.
The approval of the examination brings the disbursements to $ 2 billion in the 37 -month program.