As the agreement with the International Monetary Fund (IMF) continues to elude Pakistan, Prime Minister Shehbaz Sharif shared the pessimism of his finance czar Ishaq Dar about dealings with the global moneylender, saying in case the deal with the Fund did not go as planned, he would take the nation into confidence and find a way forward. In the same breath, the premier expressed optimism about
Though no budget can appease all segments of society, as one man’s meat is another’s poison, the policymakers have at least rectified their direction as far as the allocations made for agriculture in the budget 2023-24 are concerned. Increasing the bank loan allocation and targeting young farmers for the purpose, subsidising import of seed, solarisation of agriculture tube-wells and farm machin
Every year, the federal budget is a cruel reminder of the Pakistani economy’s descent into chaos and the meaninglessness of numbers. The mediocrity of the size of outlays, the unrealistic targets and the crushing burden of debt are all recurring features now, with no end in sight to this madness. However, unlike all previous editions, this budget was unique in one respect: the focus on informat
The budget for the next fiscal year will do little to allay the International Monetary Fund’s concerns and makes it more difficult for Pakistan to complete the pending ninth and 10th reviews of the current bailout package, experts say. This view, shared by a Washington-based economist Uzair Younus, is backed by many in the US capital about how the budget impacts Pakistan’s chances of receiving
The government conceded on Thursday average inflation will surpass its budgetary target and remain at 29 per cent for 2022-23 owing to the unprecedented depreciation and rising global commodity prices. According to the Pakistan Economic Survey 2022-23 released on Thursday, the inflation target for the outgoing fiscal year was 11.5pc. Global inflationary pressures have intensified in recent year