Islamabad (HRNW)- Pakistan has initiated virtual consultations with the International Monetary Fund (IMF) to finalize key targets for the upcoming federal budget for the next fiscal year, according to Finance Ministry sources. During the discussions, the IMF reportedly advised Pakistan to avoid continuing subsidies on petroleum products and instead ensure timely adjustments in energy and fuel prices to reduce fiscal pressure and prevent financial imbalance.
The IMF also recommended the immediate implementation of proposals from regulatory bodies concerning energy pricing and electricity tariffs, along with reducing tax exemptions, concessions, and discounts in the upcoming budget. Officials are reportedly considering measures to expand the tax base, control expenditures, and improve the tax-to-GDP ratio by at least one percent annually. In addition, steps to reduce the country’s debt burden were also emphasized as part of broader fiscal reforms.
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