In a major relief for consumers, the International Monetary Fund (IMF) has reportedly agreed to withdraw a proposed increase in taxes on solar panel products, marking a key development ahead of the 2026-27 federal budget.
According to local media reports citing sources, following efforts by Prime Minister Shehbaz Sharif, the IMF agreed not to raise taxes on stationery items and solar panels.
The development is being viewed as a major success for the government’s efforts to protect public interests during the preparation of the federal budget for fiscal year 2026-27.
Also read: Economic Survey 2025-26: GDP growth falls short, per capita income rises
Meanwhile, negotiations between the government and the IMF are continuing over proposed tax concessions for the real estate sector.
Moreover, Finance Minister Muhammad Aurangzeb unveiled Economic Survey 2025-26 on Thursday.
Aurangzeb said that Pakistan’s economy expanded to more than $452 billion, while per capita annual income increased from $1,751 to $1,901 during the fiscal year.
He said the petroleum sector recorded 5pc growth, while the current account posted a surplus of $72 million during July-March. The agriculture sector grew by 2.89pc, with dairy and livestock accounting for nearly 60pc of agricultural output.
