FM Ishaq Dar, economic team to brief PM on FY 2023-24 budget today

Finance Minister Ishaq Dar, together with his economic team, will update Prime Minister Shehbaz Sharif on the fiscal year 2023-24 budget today, according to Pakistani sources.

The economic team will also update the prime minister on the status of negotiations with the International Monetary Fund (IMF) on the economic bailout package.

According to Ministry of Finance officials, PM Shehbaz Sharif will also be informed on the budget approach.

The prime minister will be briefed on the FBR income targets, budget deficit, government expenditures, defence expenditure, debt repayment, and interest in the upcoming fiscal year’s budget.

According to sources, Prime Minister Shehbaz Sharif will also be briefed on the Federal Board of Revenue (FBR) target of 9,200 billion rupees.

According to sources, debt repayment is expected to cost 7,600 billion rupees in the next fiscal year’s budget.

According to insiders, the PM will also be informed of the National Accounts Committee’s estimations.

Before briefing the prime minister, Finance Minister Ishaq Dar will have a previous briefing on the federal budget at the finance ministry.

Last Thursday, the federal government transferred Finance Secretary Hamid Yaqoob Sheikh ahead of the presentation of the 2023-24 budget.

Imdadullah Bosal, a Pakistan Administrative Service (PAS) BS-22 officer, has been appointed Secretary Finance Division with immediate effect.

Imdadullah Bosal previously held the position of Special Secretary Finance Division.

It is worth noting that the Annual Plan Coordination Committee (APCC) meeting for the drafting of the federal budget 2023-24 has been scheduled for May 23.

Federal Minister of Planning and Development Ahsan Iqbal will preside over the APCC meeting to prepare the yearly budget for 2023-24.

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