The Pakistan Muslim League-Nawaz (PML-N) is set to present a growth-oriented budget for the fiscal year 2024-25.
The estimated budget outlay is over Rs18 trillion, scheduled to be presented by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on June 12th.
The government aims to alleviate people’s sufferings, develop the agriculture sector, promote IT, and enhance exports through this budget. Other key focuses include fiscal management, revenue mobilization, economic stabilization, reduction in non-development expenditures, job creation, and people-friendly policies for socioeconomic prosperity.
Preparations for the budget announcement are in full swing, with close coordination among departments and ministries. This is crucial as Pakistan is also in talks with the IMF for a potential $8 billion package. The recently unveiled Economic Survey of Pakistan 2023-24 highlighted a 2.38% GDP growth and significant progress in macroeconomic stability.
Despite challenges, the country has shown improvement in revenue collection, current account deficit reduction, inflation control, and currency stability. The agriculture sector has been a driving force in GDP growth, with expectations for continued growth in the future.
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