The schedule for preparing the new budget has been affected due to a delay in reaching an agreement with the International Monetary Fund (IMF).
Sources stated that the strategy paper for the budget of Fiscal Year 2023-24 could not be formulated due to political and economic uncertainties.
It was initially planned to prepare the strategy paper and obtain cabinet approval during the second week of April, but the situation has disrupted the process of determining the limits for development and current expenditures.
The annual plan coordination committee meeting has not been called yet, and the National Economic Council (NEC) session has been scheduled for the first week of May, as per sources.
Sources mentioned that the finalization of the budget document is expected to take place at the end of May, followed by seeking approval from the federal cabinet.
The FY 2023-24 federal budget is projected to be presented before the cabinet and the Parliament in the first week of June, and it is likely to be prepared under the guidance of the IMF.
The IMF’s approval will be sought for aspects such as tax revenue, financial deficit, development budget, and other important targets for the next year’s budget.
