FBR Chairman Rules Out Mini-Budget Ahead of IMF Mission Visit

The Federal Board of Revenue (FBR) Chairman, Rashid Mahmood Langrial, has confirmed that there is no plan for a mini-budget as Pakistan prepares for the upcoming visit of an IMF mission. Speaking informally with reporters, Langrial clarified that no proposal is under review for additional taxation through a mini-budget. He noted that while the government has considered different options to address the damage caused by recent floods, no decision has been made to alter the annual revenue target. Government sources say the idea of a flood levy was explored earlier, but the current focus is on convincing the IMF to accept income-raising measures through stricter tax enforcement rather than introducing new taxes. Prime Minister Shehbaz Sharif has instructed officials to seek maximum relief from the IMF during the ongoing review talks. The government is expected to ask for concessions for flood-affected areas, such as relief in electricity bills for September and more lenient terms for repayment of agricultural loans. The Finance Ministry will brief the IMF on the impact of the floods on tax revenue, the drop in FBR collections, and may propose a downward revision of the country’s projected growth target. Officials believe these representations are needed to avoid imposing fresh taxes ahead of the IMF’s visit.