18 trillion budget presented in Pakistan | 5.65 lakh crore budget presented in Pakistan: 30% more than last year, PAK is spending a lot on the army despite the bad condition

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By scotlandbreakingnews.com

Islamabad8 minutes ago

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Finance Minister Aurangzeb said in Parliament that Pakistan is negotiating with the IMF for a big relief package. - Dainik Bhaskar

Finance Minister Aurangzeb said in Parliament that Pakistan is in talks with the IMF for a major relief package.

On Wednesday, the Shahbaz government presented a budget of 67.84 billion or 18.88 lakh crore Pakistani rupees in Pakistan which is facing financial crisis. If seen in Indian rupees, this amount is 5.65 lakh crore rupees. Pakistani media website Dawn said that this is 30.56% more than last year.

The budget was to be presented at 4 pm according to Pakistani time but due to the uproar by the opposition, it was presented about two and a half hours late. While Finance Minister Muhammad Aurangzeb was presenting the budget, the opposition leaders were shouting slogans of 'Go Nawaz Go'. This is the first budget after the formation of the new government in Pakistan. The IMF was also keeping an eye on this budget. Pakistan's Finance Minister Muhammad Aurangzeb was under pressure to increase taxes and revenue collection.

Pak government set target of 3.6% economic growth

This budget of the Pakistan government has been presented at a time when the country is negotiating with the IMF for a big relief package. According to reports, this loan can be up to $8 billion. The Pakistan government has set a target of 3.6% economic growth for the next financial year to get a bailout package. Last year, Pakistan had set a growth rate of 3.5%, but it failed to achieve this rate. Pakistan's growth rate was 2.38%.

Government will hand over the public enterprises to the private sector
Finance Minister Aurangzeb said in the National Assembly that his government is preparing to hand over government enterprises to private hands. He said that the government's job is not to do business. He further said that the government has increased the minimum wage from 32 thousand to 36 thousand rupees.
The Finance Minister said that this step will provide relief to the working class. He said that the government has also thought about government employees and their salary has been increased by 20 to 25 percent.

The government will spend more than half of the amount to repay the loan and interest
The Pakistani government has set the total expenditure for the financial year 2024-25 at $64.84 billion or 18.9 trillion Pakistani rupees. Out of this, 9.8 trillion rupees will be spent on repaying the loan and its interest.

Pakistan's budget was to be presented on June 10 but it was postponed by 2 days due to PM Shahbaz Sharif's visit to China. China is Pakistan's biggest bilateral partner. In such a situation, Pakistan cannot solve any financial problem without China's help.

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