"We had to prepare the budget jointly with the IMF,” admits PM Shehbaz

Prime Minister Shehbaz Sharif confirmed that the government had jointly prepared the budget for the fiscal year 2024–25 with the International Monetary Fund (IMF).

However, he expressed hope for a positive response from the global lender. 

The premier's response came after the significant amendments to the financial bill 2024–25 announced by Finance Minister Muhammad Aurangzeb. 

“We had to prepare the budget jointly with the IMF,” admitted PM Shehbaz on the assembly floor, explaining the prevailing circumstances and ground realities that had prompted this move.

He shared his stance in responding to the objections raised by a PTI member over the sense of deprivation in south Punjab, taxes on fertilisers, and farmers. 

Responding to the PTI member, PM Shehbaz reiterated his efforts for south Punjab during his tenure as Chief Minister Punjab, saying the job quota and laptop distribution quota were higher in his tenure.

He added that the employment scheme was 10 percent higher in the south than in other parts of Punjab.

However, PM Shehbaz refrained from making any premature statements about the new bailout programme from IMF.

“I will not make any premature statements but hope for good news from the IMF,” he said.

Furthermore, the leader of the house informed the National Assembly that the government would bring details about the reduction in expenses to the assembly within 90 days. 

Prior to the Premier’s speech in the Assembly, Mr Aurangzeb announced three major changes in the budget, including relaxation for hybrid vehicles, stationery items, and the Export Facilitation Scheme 2024.