IMF, Govt Resume Budget Talks Ahead of June 10

Pakistan and the International Monetary Fund (IMF) are scheduled to hold another round of virtual negotiations today to finalize key elements of the federal budget for the fiscal year 2025-26. Sources in the Ministry of Finance confirmed that the talks will focus on providing relief to the salaried class and supporting the industrial sector, both of which have been severely affected by inflation and sluggish economic activity in recent months. Discussions will also cover budgetary targets and policy measures for the upcoming fiscal year. According to ministry officials, the Federal Board of Revenue’s (FBR) revenue collection target for FY2025-26 will be a key part of the deliberations. The government is expected to strike a balance between the IMF’s fiscal discipline requirements and the need to stimulate growth and protect vulnerable segments of society. The federal government has officially announced that the national budget will be presented in the National Assembly on June 10. Finance Secretary Imdadullah Bosal confirmed the date yesterday, stating that the government had resolved internal uncertainties and that the new timeline reflects ongoing budgetary coordination with the IMF. Originally, the budget was slated for presentation on June 2, but was delayed due to pending financial negotiations with the IMF. Bosal noted that the budget’s structure is being aligned with IMF recommendations and that current talks are addressing proposed tax reforms, spending priorities, and social protection measures. The Finance Secretary also revealed that the schedule for important pre-budget forums such as the National Economic Council (NEC) and the Annual Plan Coordination Committee (APCC) is still under review. While no final decision has been made regarding the NEC meeting date, government officials are working to synchronize all preparatory steps ahead of the June 10 budget session.