📈 2026 Budget Aligns with IMF Program, CoPF Confirms

• The Committee on Public Finance (CoPF) reviewed the draft report on the 2026 Appropriation Bill, confirming its alignment with: • Key requirements of the Public Financial Management (PFM) Act & Public Debt Management (PDM) Act. • Commitments under the IMF Extended Fund Facility (EFF) program. • Fiscal Performance & Outlook: • 2025 Revenue: Stronger than expected, exceeding projections by Rs. 100 billion, largely due to higher vehicle import taxes, providing greater fiscal space. • 2026 Outlook: CoPF cautions on a likely slowdown in revenue growth due to the anticipated decline in vehicle import tax collections. • National & International Significance: • Alignment is critical as the IMF examines the budget ahead of the fifth EFF review; the next US$ 347 Mn tranche release depends on it. • Fitch Ratings noted the Government’s commitment to fiscal reforms demonstrated by the Budget. • Transparency: CoPF discussed the Bill with civil society, covering feedback on transparency, equity in fund distribution, and accountable public spending, which will be forwarded to the Finance Ministry.