National Assembly has passes IMF-aligned budget FY24

The National Assembly passed the budget for the next fiscal year 2023-24 with a majority after the government met tough International Monetary Fund (IMF) conditions.

In a last-ditch effort to clinch a stalled rescue package with the IMF, the government introduced a number of changes to its budget for the fiscal year 2024, Finance Minister Ishaq Dar had confirmed on the floor of the National Assembly.

For the fiscal year starting next month, the government will raise a further Rs215 billion in new tax and cut Rs85 billion in spending, as well as a number of other measures to shrink the fiscal deficit.

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