Pakistan reviews FY2024 budget as last ditch effort to clinch IMF deal

Pakistan introduced a number of changes to its fiscal 2024 budget on Saturday, said Finance Minister Ishaq Dar, in a last-ditch effort to clinch a stalled rescue package with the International Monetary Fund. "Pakistan and IMF had detailed negotiations as a last effort to complete the pending review," he told parliament.

For the fiscal year starting next month, Pakistan will raise a further 215 billion rupees ($752 million) in new tax and cut 85 billion rupees ($300 million) in spending, as well as a number of other measures to shrink the fiscal deficit, he said. ($1 = 286.0000 Pakistani rupees)