Prime Minister Shehbaz Sharif has rejected a series of tax proposals put forward by the country’s economic team, making it clear that no mini budget will be introduced in the near future.
According to Finance Ministry officials, the proposals were aimed at bridging a revenue shortfall through additional taxation. However, the prime minister directed authorities to avoid imposing new taxes and instead focus on measures that provide relief to the public.He also turned down a suggestion to present the federal budget in the final week of May, instructing that no mini budget or new tax measures be introduced before June.Among the key proposals under review was the imposition of sales tax on petroleum products to boost revenue, particularly amid rising global oil prices linked to Middle East tensions. The prime minister observed that such a move would further burden citizens already grappling with high fuel costs.
Furthermore, he emphasized the need to engage with the International Monetary Fund to seek economic relief under the current conditions.The premier has directed the economic team to prioritize public-friendly policies in the upcoming budget, now expected to be presented between early and mid-June, reflecting revised economic priorities.
