The federal government has constituted a high-level budget review committee headed by Foreign Minister Ishaq Dar to impose Rs. 215 billion new taxes next fiscal year aimed at meeting International Monetary Fund (IMF) commitments, sources informed ProPakistani.
The review body includes Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Minister of State for Finance Bilal Kiyani, Finance Secretary Imdad Ullah Bodal, Federal Board of Revenue (FBR) Chairman Rashid Langrial, FBR Member Hamid Atiq, Director General Tax Policy Office Dr. Najeeb, and tax expert Asim Zulfiqar of PwC.
The committee will design additional fiscal measures worth around Rs. 430 billion, including approximately Rs. 215 billion in new taxes as part of the agreed reform program with the IMF.
Sources said the committee’s mandate is to review and refine tax proposals prepared by the Tax Policy Office to ensure revenue targets aligned with IMF commitments are achieved in the next fiscal year.
The Finance Division has officially rejected media reports suggesting that the budget-making process had been transferred away from the Ministry of Finance to Foreign Minister Ishaq Dar.
The ministry termed such claims “misleading and speculative,” stressing that the committee serves only as a consultative forum reviewing tax proposals before finalizzation. It maintained that preparation of the federal budget continues to remain under the Ministry of Finance led by the finance minister.
The ministry added that inter-ministerial review committees are a routine governance mechanism and do not represent any institutional shift or sidelining within the budget process.
thats what fin min always say, but budget will be prepared by dar the chamcha.
Anything except increasing the tax base.
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