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Govt focusing on providing ‘maximum relief’ in upcoming budget


Pakistan Budget 2024-25

WEB DESK: Minister for Petroleum, Musadik Malik, affirmed on Saturday that the government is striving to deliver maximum relief to the populace in the forthcoming budget.

Addressing a press conference in Islamabad, he underscored Prime Minister Shehbaz Sharif’s directive to all ministries to prioritise alleviating the burden of inflation on citizens.

Despite formidable challenges such as floods and global economic conditions, Malik emphasised the nation’s trajectory towards development.

Anticipating a notable decline in the inflation rate in the near future, the minister noted a significant reduction from approximately 37 per cent to nearly 17 per cent.

He particularly highlighted the substantial decrease in food inflation, which plummeted from around forty percent last year to approximately eleven percent presently.

Additionally, Malik pointed out a notable 30 percent surge in tax collection this fiscal year.

According to two government sources, Pakistan is slated to unveil its annual budget for the financial year 2024–25 on June 10.

This unveiling, originally scheduled for June 7, was postponed due to Prime Minister Shehbaz Sharif’s official visit to Beijing from June 4 to June 8 as the nation prepares for negotiations on a new International Monetary Fund (IMF) loan.

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