The government has made all arrangements for loan repayments, Ministry of Economic Affairs. Photo file
Islamabad: Due to the delay in the IMF program, the budget schedule for the next financial year is likely to be affected.
By postponing the meetings of the National Accounts Committee and the Annual Plan Coordination Committee for the approval of the Development Budget and Annual Development Plan to finalize the economic statistics of the current financial year and the estimates including the GDP for the next financial year 2023-24 on behalf of the federal government. are given.
The meeting of the National Accounts Committee will now be held on Monday, while the meeting of the Annual Plan Coordination Committee will be held on June 2, and the meeting of the National Economic Council will be held in the first week of June.
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According to sources in the Ministry of Finance, due to the uncertain political situation in the country and the delay in the IMF program, the budget schedule for the next fiscal year is likely to be affected because neither the current fiscal year’s figures nor the next fiscal year’s figures have been finalised. The budget estimates for the financial year are yet to be finalised.
If the estimates for the current financial year come out, then the growth and other economic estimates for the next financial year will be determined based on them.
The meeting of the National Accounts Committee has been postponed twice and now it will be held on Monday. In the meeting, targets will be determined based on the performance of various sectors including agriculture, industry, services, the budget strategy paper is expected to be approved by the cabinet next week.
Also read: Pakistan’s development budget has become unsustainable, IMF
Apart from this, the Ministry of Economic Affairs has said that the government has made all arrangements for the repayment of the debt. The government is optimistic about the improvement in the level of foreign exchange reserves.
The Ministry of Economic Affairs said that the total amount received by Pakistan till April 30, 2023 is 15.4 billion dollars, in which China and Saudi Arabia, among the friendly countries, have provided 3.3 billion dollars of financial support.
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