Finance Minister Muhammad Aurangzeb announced that the International Monetary Fund (IMF) has approved the implementation of targeted subsidies, which will be distributed to eligible recipients through the Benazir Income Support Programme (BISP).
To ensure consistency, the minister stated that discussions would take place this week with chief ministers to establish a uniform policy across the country. Aurangzeb shared these updates during an informal media discussion in parliament.
He also mentioned that the federal finance secretary will work with provincial secretaries to develop a comprehensive national financial package in collaboration with the provinces.
On the topic of external financing, Aurangzeb revealed a $2 billion shortfall and noted that negotiations are progressing to address this gap. He highlighted the importance of securing commercial loans and indicated that talks on debt rollover are nearing completion, with positive progress. He expects that relevant institutions from allied countries will soon inform their governments about these developments.
Regarding tax policy, Aurangzeb assured that the Federal Board of Revenue (FBR) is on track to meet its tax collection goals through improved digitalization and enforcement. He also confirmed that there are no plans to increase withholding taxes at this time.
In response to requests from the trading community, Aurangzeb emphasized that their legitimate demands will be addressed and they will be provided with every facility. He reiterated that it is crucial for all sectors of society to contribute to tax revenue for the country’s development.
