Pakistan's Finance Minister to Present Crucial Budget Amid IMF Negotiations

Pakistan is gearing up to reveal its annual budget for the financial year 2024/25 on June 10, following a brief delay due to Prime Minister Shehbaz Sharif's official visit to Beijing. Finance Minister Muhammad Auragzeb will be the one presenting the budget, which holds significant importance as Pakistan seeks a new loan from the International Monetary Fund (IMF).

The IMF recently held discussions with Pakistani officials regarding fiscal consolidation measures, indicating progress towards an extended fund facility agreement. After successfully completing a short-term $3 billion programme that prevented a sovereign debt default last year, Pakistan is now aiming to secure a minimum of $6 billion under a new IMF programme, with the possibility of additional financing from the Resilience and Sustainability Trust.

The budget session in the National Assembly is set to kick off on June 6, with the budget presentation scheduled for June 7. Following the budget announcement, the House will adjourn for two days as per the Speaker National Assembly's plan.

As Pakistan prepares to unveil its annual budget amidst negotiations with the IMF, the financial decisions made will have a significant impact on the country's economic future. The outcome of these discussions and the budget allocation will play a crucial role in shaping Pakistan's financial landscape for the upcoming fiscal year.