Finance Minister Muhammad Aurangzeb said on Tuesday that consultations are underway for the upcoming budget, adding that proposals were being reviewed in this regard.

Talking to the media, he said that an International Monetary Fund (IMF) mission is expected to visit Pakistan by mid-May for budget discussions, and the next tranche of the loan agreement will be received soon.

Aurangzeb added that the government is currently focused on issuing Panda Bonds, noting that the Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) have provided guarantees in the past week.

If plans proceed as expected, bonds worth $250 million could be issued by mid-May.

Responding to a question on a possible increase in the petroleum levy and potential relief measures for the public, the minister said other countries’ approaches should be examined.