ISLAMABAD: The International Monetary Fund (IMF) has asked Pakistan to eliminate the dual exchange rate system and present a revised budgetary framework for the current fiscal year and the upcoming budget (2023-24) to reach a staff-level agreement.
Due to low revenues and unchecked expenditures, the IMF fears that the budget deficit could rise to an unprecedented level of 8-9 percent of GDP if the status quo is maintained. Therefore, the government needs to share a revised budgetary framework for the current and next financial years.
