Pakistan begins preparations for budget 2024-25
- By Web Desk -
- Jan 11, 2024
ISLAMABAD: Pakistan has begun preparations for the budget 2024-25, ARY News reported on Thursday, citing sources.
As per details, the Ministry of Trade and Commerce has sought proposals from the government and private sectors for the budget 2024-25.
Federal Board of Revenue (FBR), Ministry of Industries and Production, National Tariff Commission, DRAP, Engineering Development Board, FPCCI, Pakistan Business Council, Pakistan Stock Exchange, and various chambers of commerce have been directed to submit their proposal by February 15m.
Sources say the proposals have been sought regarding changes in customer tariff rates.
Read more: IMF board likely to approve $700mln loan for Pakistan today
Separately, the International Monetary Fund (IMF) executive board is likely to approve the first review of Pakistan’s $ 3 billion stand-by arrangement (SBA) today (Thursday), sources said.
The current IMF program of $3 billion is scheduled to end in the second week of April 2024, with around $1.8 billion remaining un-disbursed. The Fund released $1.2 billion first tranche in July.
With the approval of the IMF board, Pakistan will get an installment of about 700 million US dollars. The finance ministry officials said Pakistan has achieved all IMF targets and hopefully will be able to get the required results.