Daily Times

The federal government has started preparations for the budget 2023-24 in which conditions forwarded by the International Monetary Fund (IMF) are likely to be implemented, ARY News reported, citing sources. Sources privy to the development said the budget for Fiscal Year 2023-24 will be the ‘toughest’ budget in the country’s history. The mini-budget might be merged with the budget 2023-24.

With the merger of the mini budget in the federal government, the masses will be overburned with taxes worth Rs 680 billion. The tax relief for the protected class is also considered to be tighter. Tax income will be increased in the FY2023-24 budget with regard to the inflation, the sources said. Read more: FY 2023-24 Budget likely to be presented in first week of June According to sources, the session of the annual plan coordination committee could not be summoned so far. “The National Economic Council (NEC) session has been scheduled in the first week of May,” sources said.