Islamabad, Nov 17: Finance Minister, Constructive IMF Talks, No Mini-Budget Planned. A mini-budget in the upcoming months has been ruled out by Finance Minister Muhammad Aurangzeb, who also reported that this week’s talks with the International Monetary Fund (IMF) went well.
In a televised interview, Aurangzeb stated that the government was dedicated to improving administration and enforcement in order to meet the Rs. 12.97 trillion tax objective. He also mentioned that the National Fiscal Pact was approved by the cabinet and that he would not be altering the National Finance Commission’s (NFC) structure in any way.
While acknowledging difficulties in the privatization of Pakistan International Airlines, the finance minister also praised Sindh and Khyber Pakhtunkhwa in fiscal problems. The Finance Minister’s remarks follow the IMF’s unexpected five-day visit, which ended on Friday. Nathan Porter, the head of the IMF mission, emphasized the energy industry, untapped income mobilization, and careful fiscal policy.
The IMF will shortly present preliminary results to its Executive Board. In order to promote the expansion of the private sector, the IMF has also called for increased competition and less government involvement in the economy. It reiterated its support for Pakistan’s reform program.
Although fundamental, the IMF visit this week involved interactions with the State Bank, private sector stakeholders, and federal and provincial authorities.
