The federal government has formed a high-level committee to review and finalize fiscal measures for the upcoming budget. The committee will focus on introducing New Taxes and other reforms to meet commitments made to the International Monetary Fund (IMF).
According to sources, the committee is headed by Deputy Prime Minister and Foreign Minister Ishaq Dar. Several senior officials are part of the body. These include Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Minister of State for Finance Bilal Azhar Kayani, and top officials from the Finance Ministry and the Federal Board of Revenue (FBR).
Sources said the committee will prepare fiscal measures worth nearly Rs. 430 billion. Out of this amount, around Rs. 215 billion will come through New Taxes in the next fiscal year. These measures are part of Pakistan’s ongoing economic reform program linked with the IMF.
The committee will review tax proposals prepared by the Tax Policy Office. Its main task is to ensure that revenue targets are achieved according to IMF conditions. Officials believe the proposed reforms will help improve government revenues and support economic stability.
Senior FBR officials are also part of the review body. These include FBR Chairman Rashid Mahmood Langrial and tax experts from different departments. Tax expert Asim Zulfiqar from PwC is also included in the committee.
Meanwhile, the Finance Division has rejected reports claiming that the budget-making process was shifted from the Ministry of Finance to Ishaq Dar. Officials described such reports as misleading and speculative.
The ministry clarified that the committee is only a consultative forum. It reviews tax proposals before they are finalized. The Finance Ministry stated that the responsibility for preparing the federal budget still remains under the Ministry of Finance.
Officials also explained that inter-ministerial committees are a normal part of governance. They said such committees are created to improve coordination between departments. The government maintained that there has been no institutional change in the budget preparation process.
In other news read more about Federal Budget 2026-27 Likely to Be Presented on June 5 Amid Ongoing Consultations
The proposed New Taxes are expected to become a major part of the upcoming federal budget discussions in Pakistan.
