PM Transfers Federal Budget Finalization Authority to Deputy PM Ishaq Dar

The Pakistani government has transferred the responsibility for finalizing the federal budget to Deputy Prime Minister Ishaq Dar, following dissatisfaction with initial proposals from the Tax Policy Office. Prime Minister Shehbaz Sharif established a high-level committee led by Dar to review and finalize tax policy measures, effectively shifting key budgetary decisions away from the Finance Ministry. This move coincides with the International Monetary Fund's review of Pakistan's proposed tax strategies for the upcoming fiscal year. The committee is tasked with determining approximately Rs. 215 billion to Rs. 230 billion in new taxes or relief, ensuring fiscal sustainability and economic growth. Simultaneously, a separate committee under Minister Ahad Khan Cheema will oversee enforcement measures aimed at generating another Rs. 215 billion through improved tax collection technologies. These actions are critical for meeting Pakistan's agreement with the IMF, which requires Rs. 430 billion in total budgetary measures. The restructuring highlights significant administrative changes in Pakistan's financial governance as it seeks to achieve a tax collection target of Rs. 15.3 trillion.