Reported 7 months ago
Pakistan's plan to increase taxes in its 2024-25 budget aims to secure an International Monetary Fund loan to prevent an economic crisis, but may spark public unrest due to the challenging revenue target of 13 trillion rupees and a significant drop in the fiscal deficit. Experts express concerns about the feasibility of achieving both targets simultaneously, with tax hikes on previously sheltered export sectors causing worry among industrialists. The budget, presented by Finance Minister Muhammad Aurangzeb, is expected to lead to an agreement with IMF in July, despite potential obstacles in meeting the tax goals and balancing economic growth.
Source: YAHOO