Prime Minister Shehbaz Sharif has rejected a set of tax proposals put forward by the country’s economic team, making it clear that no mini budget will be introduced.According to sources in the Finance Ministry, the economic team had proposed new taxation measures to address a revenue shortfall. However, the prime minister turned down these suggestions, directing officials to avoid imposing any new taxes for now and instead focus on providing relief to the public.

He also dismissed a proposal to present the federal budget in the last week of May, instructing that neither new taxes nor a mini budget should be introduced before June.The proposed measures reportedly included the imposition of sales tax on petroleum products to boost revenue amid ongoing Middle East tensions. The prime minister, however, noted that rising global oil prices have already burdened the public and further taxation would worsen the situation.

He further emphasized the need to engage with the International Monetary Fund to seek relief in the current economic climate.The premier also directed the economic team to prioritize public relief measures in the upcoming budget, which is now expected to be presented in the first or second week of June, with adjustments in priorities in line with prevailing economic conditions.

Credit: Independent News Pakistan (INP)