Pakistan Parliament: The Parliament of Pakistan on Sunday (June 25) approved a budget of Rs 14.48 lakh crore for the financial year 2023-24. Some new taxes have been added to it after the International Monetary Fund (IMF) placed a condition for releasing the remaining installment of the approved relief package.
IMF placed the condition
In the budget, a target of 3.5 percent has been set for the Gross Domestic Product (GDP) growth rate, which was announced on June 9 itself. At that time, a target of tax collection of Rs 9,200 billion was set in the budget, but after the condition of the IMF, it was increased to Rs 9,415 billion by adding Rs 215 billion to it.
The Government of Pakistan accepted the demand of the IMF.
The Government of Pakistan has also accepted the demand of the IMF to reduce the expenditure of Rs 85 billion. The country’s Finance Minister Ishaq Dar said in his speech during the discussion on the budget that these changes have been made in the budget after discussing with the IMF for three days. Prime Minister Shehbaz Sharif met IMF Managing Director Kristalina Georgieva two days ago during the Global Financial Conference in Paris and requested to release the loan.
