The Pakistani government has introduced its federal budget for the fiscal year 2023-24, which includes various measures to support the agriculture and IT sectors, salary increases for government employees, exemptions on solar panels, and other subsidies.
Finance Minister Ishaq Dar presented the budget, amounting to Rs14.5 trillion (approximately $50.5 billion), in the National Assembly on Friday. More than half of the funds will be used to service a debt of Rs7.3 trillion.
Approximately Rs1 trillion has been allocated for subsidies in the electricity and gas sectors. The government aims to collect Rs9.2 trillion ($32 billion) in taxes and anticipates a 3.5 percent growth in GDP.
However, some experts and opposition members have expressed concerns regarding potential inflationary pressure, unrealistic revenue targets, and the widening of the fiscal deficit.