The federal government is likely to introduce another mini budget to fulfill the commitments made with International Monetary Fund (IMF) sources said on Friday. As per details, the federal government is considering a mini-budget in which new taxes are likely to be imposed to fulfill the IMF commitment. In a commitment made to IMF, the government stated that if the monthly tax collection target is missed in the ongoing fiscal year then the country will immediately raise the additional revenue.

The new mini-budget will impose a sales tax on petrol and the petroleum levy will be increased. A two percent custom duty may also be imposed on imported items. Earlier, the talks between the International Monetary Fund (IMF) and Pakistan were postponed till the third week of November. The talks which were scheduled to take place on November 3, were postponed till the third week of the ongoing month. Sources privy to the development said talks will be held after the imposition of sales tax on petroleum products by the Pakistan government.

Credit : Independent News Pakistan-INP