Pakistan’s new coalition government presented its first budget in parliament on Wednesday, promising an increase of up to 25% in the salaries of government employees and setting an ambitious tax collection target while talks with the International Monetary Fund about a new bailout continue.
Analysts say the new budget of about $68 billion — up from $50 billion last fiscal year — is aimed at qualifying for a long-term loan of $6 billion to $8 billion from the IMF to help stabilize the economy, which in 2023 nearly defaulted on the payment of foreign debts.
