As plans for a “mini-budget” are being made, the federal government is likely to impose taxes of Rs 200 billion in order to overcome the deadlock with the International Monetary Fund (IMF).
The International Monetary Fund (IMF) informed the authorities that Islamabad will need to work toward implementing all demands for reviving the programme that has stalled with the Fund and shared lists of necessary steps with Pakistan.
The government was considering implementing the mini-budget on February 1, 2023. The administration is getting ready to issue a Presidential Ordinance that will levy a tax of Rs. 200 billion. The government is set to levy higher taxes on a number of luxury goods as part of the mini-budget.
The government was also considering withdrawing tax exemptions granted on goods worth Rs 70 billion.