IslamabadThe International Monetary Fund delegation (IMF) will arrive in Pakistan on Friday to help prepare the federal budget for the fiscal year 2025-26.
The sources reveal that during its visit, the International Monetary Fund team will communicate with the Pakistani authorities to discuss the proposed tax policies, strategies to enhance revenues, and measures to control government spending. Discussions will also focus on customizing development spending in the next budget.
The federal budget for the fiscal year 2015-26 is scheduled to be presented in early June, when the International Monetary Fund team is working closely with Pakistani officials to finish the final touches on the main budget proposals.
The Ministry of Finance has set an ambitious target for the Federal Revenue Council (FBR), with the aim of a significant increase in tax groups, with a target of revenue of 15,270 billion rupees for the next fiscal year. This represents an increase of 2300 billion rupees compared to the current fiscal year.
Last year, FBR 9111 billion rupees collected taxes, and plaques from 2012-26, the goal of collecting direct taxes was determined by 6,570 billion rupees, an increase of 512 billion rupees this year.
In addition, the federal government recently achieved another case from the International Monetary Fund by approving the establishment of offices at the FBR headquarters for the Director General of Special Trainers and directors, aiming to improve coordination with field units to combat tax evasion. These measures are expected to simplify tax collection and cancel obstacles that hinder the generation of revenues.
Finance Minister Mohamed Uranzib also confirmed last month that the negotiations between Pakistan and its colleagues for a billion dollar loan balcony were successful. During a meeting on the Board of Directors of the Prime Minister, headed by Prime Minister Shaybaz Sharif, Aurangzeb reassured the business community that the International Monetary Fund will issue a statement confirming the progress of the loan agreement by Saturday.