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Finance Minister Miftah Ismail is slated to present Budget 222-23 to the National Assembly at 4:00 p.m., as part of the government"s efforts to resurrect a $6 billion IMF loan programme.
Prime Minister Shehbaz Sharif"s cabinet is set to present its first budget today, with a total expenditure of over Rs9,500 billion (Friday).

As part of the government"s efforts to relaunch a $6 billion IMF loan programme, Finance Minister Miftah Ismail will present Budget 222-23 to the National Assembly at 4:00 p.m.
Salaries and pensions for government employees are scheduled to be increased by 10%, and the defence budget will be enhanced as well.

The Ministry of Finance had released the Economic Survey 2021-22 the day before, noting that the rate stayed at 5.97 percent for the current fiscal year.

Miftah Ismali, speaking at the ceremony, claimed that the 5.97 percent increase had resulted in current account deficits and a balance of payment issue.

He said that the impending default had been averted as a result of the current government"s difficult decisions. He claimed that the country was now on the road to stability.

He stated that imports climbed by 43% in the current fiscal year, bringing the total to $76-77 billion.

According to Miftah Ismail, imports grew by 28%, resulting in a $45 billion trade deficit.
He stated that Pakistan"s foreign exchange reserves declined by $5.6 billion in March, and that they now stand at roughly $9.7 billion.

He expressed confidence, however, that the foreign exchange reserves will reach $12 billion in the next days, thanks to China"s $2.4 billion contribution.

Miftah Ismail emphasised the need of putting the country on the correct track. According to Radio Pakistan, he added that we need to raise the pricing of petroleum goods because the Brent price is hovering around 120 to 123 dollars per barrel