Shehbaz Sharif Government to Present Its Second Budget on June 10

The government led by Prime Minister Shehbaz Sharif is all set to present its second federal budget for the fiscal year 2024-25 on June 10. The budget, which will be unveiled by Finance Minister Muhammad Aurangzeb, is expected to outline key economic targets and reforms amidst growing financial challenges.

The presentation will take place in the National Assembly and will mark a critical moment for the coalition government as it seeks to stabilize the economy, manage inflation, and fulfill commitments made to the International Monetary Fund (IMF).

Key Expectations from the Budget:

1. Tax Reforms:
   There is speculation that the government will introduce new tax measures aimed at increasing revenue without burdening the salaried class too heavily. Broadening the tax base is likely to be a central theme.
2. Public Sector Development Program (PSDP):
   Development spending is expected to focus on infrastructure, health, and education, with a particular emphasis on completing ongoing projects.
3. IMF Commitments:
   Given the negotiations with the IMF for a new loan program, it is anticipated that the budget will reflect structural reforms demanded by the global lender, including a reduction in subsidies and better fiscal discipline.
4. Relief Measures:
   With inflation continuing to affect daily life, the public will be watching closely for any relief packages, particularly for low-income groups.
5. Privatization and Reforms:
   The government is also likely to address plans for the privatization of loss-making state-owned enterprises such as PIA and Pakistan Steel Mills.

This budget comes at a time when Pakistan is grappling with external debt, currency devaluation, and a shrinking middle class. It will be a test of the government’s ability to balance economic reform with public expectations.

As June 10 approaches, all eyes will be on Islamabad to see how the Shehbaz Sharif administration plans to navigate these turbulent economic waters.