Fiscal Deficit Pakistan

The price hike has been the main issue between Pakistan and the IMF as part of an agreement to withdraw subsidies in oil and power sectors to reduce the fiscal deficit before the annual budget is presented next month.

Pakistan Finance Minister Miftah Ismail said on Friday the government would raise taxes on the rich and ban government officials from buying new cars, amid pressure to control the fiscal deficit.

The price hike has been the main issue between Pakistan and the IMF as part of an agreement to withdraw subsidies in oil and power sectors to reduce the fiscal deficit before the annual budget is presented next month.

Pakistan's trade deficit ballooned by 42 per cent year-on-year to an all-time high of USD 30 billion in the first 11 months of the current fiscal year on the back of falling exports and a sharp increase in the import bill, a media report said today.

Najam Sethi, who is stepping down as PCB chairman as the board prepares for fresh elections on August 18 to elect a new chief, said the amount was the highest pretax profits since 2011 against budgeted deficit of 366 million rupees for this fiscal year.

The price hike has been the main issue between Pakistan and the IMF as part of an agreement to withdraw subsidies in oil and power sectors to reduce the fiscal deficit before the annual budget is presented next month.

Pakistan Finance Minister Miftah Ismail said on Friday the government would raise taxes on the rich and ban government officials from buying new cars, amid pressure to control the fiscal deficit.

The price hike has been the main issue between Pakistan and the IMF as part of an agreement to withdraw subsidies in oil and power sectors to reduce the fiscal deficit before the annual budget is presented next month.

Pakistan's trade deficit ballooned by 42 per cent year-on-year to an all-time high of USD 30 billion in the first 11 months of the current fiscal year on the back of falling exports and a sharp increase in the import bill, a media report said today.

Najam Sethi, who is stepping down as PCB chairman as the board prepares for fresh elections on August 18 to elect a new chief, said the amount was the highest pretax profits since 2011 against budgeted deficit of 366 million rupees for this fiscal year.