Cash-strapped Pakistan Parliament approves Rs 14.48 trn budget for 2023-24 ...Middle East

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Cash-strapped Pakistan Parliament approves Rs 14.48 trn budget for 2023-24
source : Business Standard ( Middle East ) () 42
Pakistan's Parliament on Sunday approved the Rs 14.48 trillion budget for 2023-24 after new taxes were added to it as dictated by the IMF as a condition to release the remaining portion of an already agreed bailout package for the cash-strapped country. The budget aiming to achieve 3.5 per cent GDP growth was unveiled on June 9. It aimed to collect Rs 9,200 billion in taxes but the target was hiked by Rs 215 billion at the behest of the International Monetary Fund (IMF) to make it Rs 9,415 billion. The government also agreed with the IMF's demand to cut its spending by Rs 85 billion. In his speech to sum up the debate on the budget, Finance Minister Ishaq Dar said that changes have been made

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