Finance Minister Aurangzeb Dismisses Mini-Budget Rumors After IMF Talks
ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has firmly ruled out the introduction of a mini-budget following fruitful discussions with the International Monetary Fund (IMF).
Speaking to Geo News on Saturday, Aurangzeb stated that the talks with the IMF were “constructive and productive,” although he acknowledged that some aspects required further in-person discussions.
His comments followed the conclusion of the IMF mission’s visit to Pakistan, led by Nathan Porter, from November 12 to 15.
Aurangzeb emphasized that the purpose of the IMF’s visit was not to review Pakistan’s economy but to build confidence, with the global lender reportedly satisfied with the open and fact-based dialogue.
The IMF had earlier encouraged Pakistan to broaden its tax base to address revenue challenges, highlighting the importance of structural energy reforms and continuing fiscal and monetary policies for sustainable growth.
Aurangzeb also confirmed that the government remains committed to the privatization of state-owned enterprises (SOEs), including Pakistan International Airlines (PIA), despite setbacks. He stressed that privatization efforts would continue for all SOEs, including power generation and distribution companies (Gencos and DISCOs) and airports.
Additionally, the finance minister mentioned that reforms in the power sector, particularly on transmission and distribution, are underway, with positive feedback from the IMF on Pakistan’s ongoing economic reforms. He also noted that progress had been made on the National Fiscal Pact, with provincial support, and that rightsizing of the government is progressing as planned.
