Pakistan introduced a number of changes to its fiscal 2024 budget on Saturday, said Finance Minister Ishaq Dar, in a last-ditch effort to clinch a stalled rescue package with the International Monetary Fund.
ISLAMABAD, June 24 - Pakistan introduced a number of changes to its fiscal 2024 budget on Saturday, said Finance Minister Ishaq Dar, in a last-ditch effort to clinch a stalled"Pakistan and IMF had detailed negotiations as a last effort to complete the pending review," he told parliament.
For the fiscal year starting next month, Pakistan will raise a further 215 billion rupees in new tax and cut 85 billion rupees in spending, as well as a number of other measures to shrink fiscal deficit, he said. The review came a day after Prime Minister Shehbaz Sharif met with IMF Managing Director Kristalina Georgieva on the sidelines of the Global Financing Summit in Paris.Under the $6.5 billion facility's ninth review, negotiated earlier this year, Pakistan has been trying to secure $1.1 billion of funding stalled since November.Thomson Reuters
Shahzad is an accomplished media professional, with over two decades of experience. He primarily reports out of Pakistan, Afghanistan regions, with a great interest and an extensive knowledge of Asia. He also reports on politics, economy, finance, business, commodities, Islamist militancy, human rights
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