Pakistan has changed its budget for the financial year starting on July 1, Finance Minister Ishaq Dar said on Saturday, including the latest fiscal tightening measures dictated by International Monetary Fund in a final effort to clinch a stalled rescue package.
ISLAMABAD, June 24 - Pakistan has changed its budget for the financial year starting on July 1, Finance Minister Ishaq Dar said on Saturday, including the latest fiscal tightening measures dictated by International Monetary Fund in a final effort to clinch a stalled"Pakistan and IMF had detailed negotiations for the last three days as a last effort to complete the pending review," he told parliament.
That will revise Pakistan's revenue collection target to 9.415 trillion rupees and put total spending at 14.480 trillion rupees , Dar said. "These changes will make our fiscal deficit much better," he said. He also announced lifting of restriction of all imports enforced in December in a bid to cut the current account deficit, which has been one of the major concerns by the IMF to release the funds.
The review came a day after Prime Minister Shehbaz Sharif met with IMF Managing Director Kristalina Georgieva on the sidelines of the Global Financing Summit in Paris.
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