Amid rising inflation and debt, the Pakistani economy continues to be majorly dependent upon relief packages from international lending organizations like the IMF.
Pakistan has been plagued by a deep socio-political and economic crisis, bringing the country to a near standstill with no visible signs of a turnaround.
The federal budget for Fiscal Year 2023-24, presented by Pakistan Finance Minister Ishaq Dar on Friday, came as a huge disappointment for homemakers as it offered no respite from surging household expenses, The News International reported.
Pakistan's National Assembly (NA) session began with the recitation of the Holy Quran followed by the national anthem. The country's Prime Minister Shehbaz Sharif was also in attendance.
Sources told The Express Tribune that for the fiscal year 2023-24, the budget deficit, the gap between expenses and income, is estimated at around 7.4 per cent of the gross domestic product (GDP).
Karachi [Pakistan], July 30 (ANI): While rejecting Pakistan Budget 2022-23, property dealers of the real estate sector staged a protest against the imposition of heavy taxes on sector, media reports said.
Islamabad [Pakistan], July 6 (ANI): The International Monetary Fund (IMF) intends to ban Pakistan from borrowing more from China, according to reports.
Islamabad [Pakistan], June 23 (ANI): Pakistan Federal Minister for Climate Change Sherry Rehman on Wednesday accused the Imran Khan's policies of bringing the country on the verge of bankruptcy and said that they are left with no choice but to accept the budget on the terms of International
Islamabad [Pakistan], June 11 (ANI): Pakistani government has proposed an allocation of PKR 1.523 trillion for defence services for the fiscal year 2022-23, with an increase of 11.16 per cent over the initial allocation for the outgoing year (2021-22), according to local media.
Islamabad [Pakistan], June 11 (ANI): Pakistan's Punjab province got a huge share of 51.74 per cent in the budgetary distribution of resources among the federation and provinces, depicting the favourable behaviours of Shehbaz Sharif-led country's government as his son Hamza Shahbaz is the Chi
Islamabad [Pakistan], June 11 (ANI): Pakistan is going through a "very difficult" phase, said the country's Finance Minister Miftah Ismail on Saturday, a day after he presented the federal budget 2022-23 in the National Assembly.