IMF-Aligned Budget Sails Through National Assembly

The National Assembly on Friday approved the tax-heavy FY25 budget, ahead of talks on a new International Monetary Fund (IMF) bailout. The Finance Bill 2024 was approved by a majority vote in the Lower House of the Parliament. Finance Minister Muhammad Aurangzeb moved the finance bill to the National Assembly, which was endorsed by the ruling alliance, including the Pakistan Peoples Party (PPP). Responding to the points of the opposition on the Finance Bill, the minister said the economy has achieved stability. He expressed the government’s determination to further enhance the stabilization process with the goal of steering the economy towards growth. Sharing the economic indicators, the Finance Minister pointed out that there is reduction in the Current Account Deficit and the fiscal deficit is also under control. He said the currency has been stable over the last six to seven months, expressing the confidence that this stability will remain in the time ahead.