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Pakistan and IMF make progress in budget and macroeconomic framework talks

Pakistan News Desk2 months ago
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Pakistan and the IMF have broadly agreed on a macroeconomic framework, while budget talks between the two continue. According to Miftah Ismail, the IMF has imposed 75 conditions on Pakistan. The IMF has a new demand, the details of which have been revealed, and questions have been raised about how much taxes will rise in the next budget at the fund’s demand. The IMF has also raised concerns over Pakistan’s net metering policy for solar users.

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Updated: 6:00 PM PKT — May 20, 2026

The IMF mission has extended its visit by two days amid disagreements over budget targets, potentially delaying the budget’s presentation in parliament until June 5th. The fund is reportedly demanding an 18% increase in the petroleum levy, biannual hikes in gas and electricity tariffs, and for the provinces to secure a nearly 2 trillion rupee surplus.

Updated: 4:49 PM PKT — May 20, 2026

The International Monetary Fund is reportedly pushing for an 18% General Sales Tax on electric vehicles, in contrast to the government’s proposal of just 1%. Prime Minister Shehbaz Sharif is now actively reviewing the final budget proposals before its official presentation.

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