The federal government has assured the International Monetary Fund (IMF) to implement the 14 structural benchmarks set by the global lender, said Minister of State for Finance and Revenue Dr. Ayesha Ghaus Pasha.
She made these remarks while briefing the National Assembly’s Standing Committee on Finance.
The committee, which met under the chairpersonship of Qaiser Ahmad Sheikh, was apprised that IMF will conduct the ninth review in late November or early December. Under the IMF program, Pakistan has received $3.9 billion so far, while another $2.6 billion would be provided by June next year.
Dr. Pasha, while denying the rumours regarding the promulgation of a mini-budget, highlighted that the government hasn’t planned to bring a mini-budget as yet. However, the government could revise the Public Sector Development Program (PSDP) in case of a surge in expenditures.
While shedding a light on the economic loss caused by the recent floods, Dr. Pasha said that the ground realities of Pakistan have changed as a result of the floods.
The government is currently estimating the damage caused by the flood. She mentioned that the coalition government will achieve an annual tax target of more than Rs. 7.4 trillion despite the flood situation in the country. She added that the government is trying not to impose any more taxes on the masses.
The minister highlighted that the PTI government had violated its agreement with the IMF. Contrary to the assurance given to the IMF, the budget deficit exceeded Rs. 1.6 trillion during the fiscal year 2022. However, the incumbent government has committed with the IMF to achieve a primary budget surplus target of Rs. 153 billion, she added.