The federal government announced that the budget for the fiscal year 2024-25 will be presented in Parliament on June 12 by Senator Muhammad Aurangzeb, the federal minister for finance and revenue. ARY News reported that the budget aims to alleviate people’s suffering, transform the agriculture sector, promote information technology (IT), and boost exports, according to government sources. Additionally, it will include measures for economic growth and stabilisation, revenue mobilisation, reduction in non-development spending, job creation, and people-friendly policies for socio-economic success.
All ministries and departments involved in budget-related activities are collaborating closely to prepare the budget, which comes at a time when Pakistan faces a significant economic crisis and seeks a potential deal of up to USD 8 billion from the International Monetary Fund (IMF). Before the budget presentation on June 11, “The Economic Survey of Pakistan,” a pre-budget document, will be presented, providing a comprehensive assessment of the nation’s economy over the previous fiscal year. Finance Minister Muhammad Aurangzeb will launch the document, which will cover socio-economic advancements, business performance, and economic trends across various sectors, including capital markets, health, education, transportation, communication, energy, agriculture, manufacturing, services, and information technology. Additionally, the survey will detail annual trends of key economic indicators related to employment, population, trade, public debt, inflation, climate change, and social safeguards.