ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have reportedly reached an understanding on key fiscal targets for the FY2026–27 federal budget, according to Beyond Time News.
Sources said most major budget parameters have been agreed, while limited technical discussions continue on possible relief for salaried taxpayers.
Budget Expected Around Rs18 Trillion
The federal budget is projected to remain close to Rs18 trillion under the IMF programme, with only minor adjustments expected before final approval.
Revised Tax Targets
The IMF has reportedly approved a cut in the current fiscal year’s FBR tax target, reducing it from Rs13.979 trillion to Rs13.005 trillion.
For FY2026–27, the tax target is expected at around Rs15.264 trillion.
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Revenue Breakdown
- Direct taxes: Rs7.413 trillion
- Sales tax: Rs4.727 trillion
- Customs duties: Rs1.651 trillion
- Federal excise duty: Rs1.043 trillion
Other Revenues
- Petroleum Development Levy: Rs1.727 trillion
- Non-tax revenue: Rs2.768 trillion
- Gas surcharge: Rs151 billion
Expenditure
Debt servicing remains the largest spending item at Rs7.824 trillion, including Rs6.652 trillion in domestic and Rs1.107 trillion in external payments.
Outlook
The FY2026–27 budget is expected in the coming days, setting Pakistan’s fiscal direction under the IMF framework.
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