By Asghar Ali Mubarak
ISLAMABAD: The PML-N led federal government has decided in principle to present the next fiscal year’s budget prior to Eidul Azha, which is expected to be celebrated on June 7.
According to sources in the Ministry of Finance, the government is likely to summon parliament’s budget session a few days earlier in view of Eid.It may present the next budget between June 3 to June 5. They said the process to pass the money bill will start immediately after the Eid holidays.
They said prior to presenting the budget, the government authorities will hold consultations with the International Monetary Fund (IMF) whose mission is going to arrive in Pakistan on May 14.
They said the government will try to get the nod of the IMF on annual tax revenue targets and development budgets etc.
Minister for Finance Muhammad Aurangzeb is also going to fly to the United States to attend the IMF’s and World Bank’s annual meetings.
These meetings are scheduled in Washington on April 21 and April 26.
Earlier, Prime Minister Shehbaz Sharif has said Pakistan must urgently increase its revenues to reduce reliance on borrowing and avoid long-term dependence on the International Monetary Fund (IMF).
Speaking during a visit to the Federal Board of Revenue (FBR) headquarters in Islamabad,on Thursday, the prime minister described rising public debt as a serious challenge and called for sustained economic reforms.
“We have to raise national income through hard work and determination,” the prime minister said. “If we fail to do so, debt will keep piling up, and we will never break free from the IMF,” media reported.
PM Shehbaz said the FBR’s digitalisation drive was underway, but warned that the process faced obstacles which needed to be swiftly addressed.
He described tax system reforms as essential for Pakistan’s economic stability and future growth.
Officials briefed the prime minister on ongoing reforms, including the launch of data-driven decision-making systems and a new performance management system for tax officers.
The FBR is integrating data from NADRA, banks, and asset records to improve tax compliance and expand the country’s tax base. A digital invoicing system, aimed at curbing tax evasion, is also in its final stages and will be rolled out soon.
“A 27% increase in tax collection over last year is commendable,” PM Shehbaz said. “But we must resolve the high-value cases stuck in courts. Two recent decisions alone have brought billions to the treasury. Imagine what dozens more could do.”
The prime minister inaugurated a fully automated, performance-based monitoring system for tax officials, designed to ensure transparency and reward merit.
He also toured the FBR’s newly established Delivery Unit, where he met staff and reviewed the operational setup.
Calling FBR officers a “valuable national asset,” PM Shehbaz expressed hope that modernisation would allow the tax authority to play a key role in strengthening the country’s economy and easing the debt burden.
