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

Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has said that no mini-budget is under consideration as Pakistan prepares for the upcoming visit of the International Monetary Fund (IMF) mission. He was speaking informally with reporters while discussing the government’s economic position. Langrial clarified that no proposal for additional taxation through a mini-budget is being reviewed. He added that the government has examined various options to address damages caused by recent floods, but no decision has been made regarding changes to the annual revenue target. According to Finance Ministry sources, the government had earlier explored the possibility of imposing a flood levy but is now focused on convincing the IMF to accept income-raising measures through stricter tax enforcement instead of fresh taxation. Prime Minister Shehbaz Sharif has directed officials to seek maximum relief from the IMF during the review talks. Sources said Pakistan will attempt to secure concessions for flood-affected populations, including relief in electricity bills for September and relaxation in repayment of agricultural loans. The Finance Ministry also plans to brief the IMF on the impact of floods on tax revenue, the shortfall in FBR’s collection, and a possible downward revision of the country’s growth target. Officials are expected to argue for leniency to avoid the imposition of new taxes.