June 25, 2023
1 min read

IMF asks Pakistan to revisit budget

Pakistan and the IMF are making efforts to evolve a broader agreement on the budgetary framework which, if struck, could pave the way for approval of the budget for 2023-24 with revisions…reports Asian Lite News

Islamabad [Pakistan], June 25 (ANI): The International Monetary Fund (IMF) has asked Pakistan to revise the budgetary framework for 2023-24 before its passage from the parliament in order to strike a staff-level agreement, The News International newspaper reported.

The News International is an English-language newspaper in Pakistan.
The IMF added that without changes in the budget, the staff-level agreement with the IMF cannot be achieved.

Pakistan and the IMF are making efforts to evolve a broader agreement on the budgetary framework which, if struck, could pave the way for approval of the budget for 2023-24 with revisions, including jacking up the FBR’s tax collection target and slashing expenditures.

A top official privy to the ongoing negotiations between Pakistan and the IMF held virtually from Islamabad and Washington on Friday, said: “The Pakistani side shared the revised budgetary estimates for next fiscal year with the IMF but so far a broader agreement is yet to be achieved.”

That’s why the windup speech of the Minister for Finance was delayed; earlier it was expected to be held on Friday. Now it might be done on Monday.

In the aftermath of Prime Minister Shehbaz Sharif’s meeting with the IMF’s MD in Paris, Pakistan and the IMF held two rounds of virtual talks in the last 24 hours in an effort to move towards a staff-level agreement.

The Pakistani authorities shared revised budgetary estimates for the next fiscal year with the IMF review mission with expectations to evolve a broader agreement on the budgetary framework, it is yet to be seen to what extent both sides reconcile their differences and evolve a consensus on major thorny issues. (ANI)

ALSO READ: Budget Review: Pakistan’s Final Push for IMF Deal

Previous Story

ASEAN mulls joint military drill amid tensions with China

Next Story

UN slams Taliban curbs on women

Latest from -Top News

India-EU Trade Talks Resume

The proposed India-EU FTA covers 23 policy areas, or chapters, of which at least two – market access and rules of origin – have yet to be resolved….reports Asian Lite News India

India Launches Relief Ops in Bhutan

The Royal Government of Bhutan has expressed sincere gratitude to the Indian Army…reports Asian Lite News Amid unprecedented floods caused by a low-pressure system over the Bay of Bengal, relentless rainfall has

Jaishankar Hints at Tariff Deal with US

Jaishankar explained that the ongoing trade tensions largely stem from the inability of both sides to reach a common ground on several issues….reports Asian Lite News External Affairs Minister S. Jaishankar on

Rajnath Singh Heads to Australia for Key Defence Talks

The visit comes at a historic moment when India and Australia commemorate five years of establishment of India-Australia Comprehensive Strategic Partnership…reports Asian Lite News Defence Minister Rajnath Singh will visit Australia from
Go toTop

Don't Miss

Pakistan irked as IMF ‘shifts goalposts’

The Authorities are extremely annoyed at the latest situation, describing

Who will succeed Bajwa to head Pakistan Army?

Now Imran Khan and his cohorts in Pakistan Tehrik- e-