Finance ministry calls budget-making report on Dar 'misleading, incorrect'

The Ministry of Finance has issued a strong rebuttal to a recent report published by The Express Tribune, labeling it as "misleading" and "factually incorrect." The report had claimed that the government had effectively "handed over the responsibility of making the new budget to Ishaq Dar," citing a perceived subpar initial work and the formation of a Dar-led committee to finalize tax policy proposals.

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The Ministry of Finance said on Thursday that a media report claiming Deputy Prime Minister and Foreign Minister Ishaq Dar had been handed the budget-making process was “misleading” and “factually incorrect”.

In its clarification, the Finance Ministry vehemently rejected the "misleading and speculative impression" created by the newspaper. It emphasized that the constitution of a high-level review committee by Prime Minister Shehbaz Sharif does not constitute a "handover" of the budget-making process or a "sidelining" of the Finance Division. The ministry stressed that this interpretation is inaccurate and does not reflect the committee's actual mandate or operational function.

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The story incorrectly portrays the constitution of a high-level review committee by the prime minister as a ‘handover’ of the budget-making process from the Finance Division or as a ‘sidelining’ of the finance minister. This interpretation is factually incorrect, misleading and does not reflect the actual mandate or functioning of the committee.

This exchange highlights the sensitivity surrounding fiscal policy and budget formulation in Pakistan. While the formation of specialized committees to review and advise on economic matters is common, the interpretation of such actions can be politically charged. The Finance Ministry's swift and firm denial underscores its commitment to maintaining its institutional authority and clarifying its role in the crucial process of national budget creation. The clarification serves to correct the public record and counter any narrative suggesting a shift in financial decision-making authority away from the established Finance Division.

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The government had “handed over the responsibility of making the new budget to Dar after it found the initial work below par”.