ISLAMABAD: Prime Minister Shehbaz Sharif has rejected recommendations from the government’s economic team to introduce new taxes, making it clear that no mini budget will be announced in the near term.
According to sources within the Finance Ministry, officials had suggested additional taxation measures to bridge a growing revenue gap. However, the prime minister declined the proposals, instructing policymakers to avoid placing further financial burden on the public and instead focus on relief-oriented measures.
He also turned down a plan to present the federal budget in the final week of May, directing that neither new taxes nor any supplementary budget be introduced before June.
Among the proposals under consideration was the imposition of sales tax on petroleum products as a means of boosting government revenue amid rising global uncertainty. The prime minister rejected the idea, noting that increasing international oil prices have already strained consumers and that further taxation would add to their difficulties.
Shehbaz Sharif also emphasized the importance of continued engagement with the International Monetary Fund (IMF) to explore possible relief options during the current economic challenges.
The prime minister directed his economic team to prioritize public welfare in the upcoming budget, which is now expected to be presented in early June, with revised priorities reflecting the prevailing economic situation.
