Secretary Finance Imdadullah Bosal on Tuesday said that Pakistan’s new budget targets have been finalized in agreement with the International Monetary Fund (IMF), marking a key milestone in the country’s economic planning.
Addressing a post-budget press conference in Islamabad alongside the Finance Minister, Bosal revealed that the IMF has accepted Pakistan’s request not to impose taxes on the agriculture sector a move he described as a ‘major achievement’ for the government.
“The tax on fertilizers and agrochemicals was originally scheduled for the last fiscal year (2024),” Bosal said.
“But under the Prime Minister’s directive, we negotiated with the IMF to defer it. This year, we were committed to imposing the tax, yet we managed to secure another exemption.”
The finance secretary emphasized that the benefits of the government's ongoing "right-sizing" efforts aimed at optimizing public sector efficiency would become evident in the future.
The announcement comes as the government tries to balance IMF conditions with public and sectoral demands ahead of the new fiscal year.
