Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout
A live TV news station covering breaking news and traffic for Colorado Springs, Pueblo, and Southern Colorado with a strong investigative team Pakistan's new coalition government has presented its first budget, offering an increase of up to 25% in the salaries of government employees and setting an ambitious tax collection target. The budget is aimed at qualifying for a long-term loan of $6 billion to $8 billion from the International Monetary Fund (IMF) to help stabilize the economy. Talks with the IMF continue to continue regarding a new bailout. The new budget is worth about $68 billion and is part of Pakistan's efforts to qualify for a bailout. It nearly defaulted last year on the payment of foreign debts.
Published : 10 months ago by in Politics
ISLAMABAD (AP) — Pakistan’s new coalition government presented its first budget in parliament. It is promising an increase of up to 25% in the salaries of government employees and setting an ambitious tax collection target. Talks with the International Monetary Fund about a new bailout continue. Analysts say the new budget of about $68 billion is aimed at qualifying for a long-term loan of $6 billion to $8 billion from the IMF to help stabilize the economy. It nearly defaulted last year on the payment of foreign debts.