Prime Minister Shehbaz Sharif rejected a set of tax proposals from the country’s economic team and ruled out introducing a mini budget.
According to Finance Ministry sources, the team had proposed new taxes to address a revenue shortfall, but the prime minister instructed officials not to impose any new levies for now and to focus on providing relief to the public.
He also dismissed a proposal to present the federal budget in the last week of May, directing that neither new taxes nor a mini budget should be introduced before June.
The measures reportedly included imposing sales tax on petroleum products to boost revenue amid ongoing Middle East tensions. The prime minister said rising global oil prices have already burdened the public and that further taxation would worsen the situation.
He emphasized the need to engage with the International Monetary Fund to seek relief and directed the economic team to prioritize public relief measures in the upcoming budget, now expected in the first or second week of June, with priorities adjusted according to prevailing economic conditions.