The new coalition government presents its ‘toughest’ budget to date, with an Rs9.5 trillion outlay.

The coalition government led by Shehbaz Sharif is presenting the “toughest” federal budget for the fiscal year 2022-23 in the National Assembly, with an outlay of Rs9.5 trillion, despite the International Monetary Fund’s (IMF) strict conditions for the revival of the $6 billion loan programme, which has been stalled for months due to policy violations.

While presenting the budget proposals, Federal Minister for Finance and Revenue Miftah Ismail chastised the “incompetent” PTI-led government for its poor performance, claiming that the current budget focuses on “sustainable and inclusive growth.”

According to the finance minister, Pakistan is experiencing skyrocketing inflation as a result of the PTI-led government’s “incompetence.”

The minister stated that the government must strive for “sustainability.”

Miftah assured the Speaker of the National Assembly, Raja Pervez Ashraf, that the new coalition government will pull Pakistan out of the economic crisis, saying, “We have done it before, we can do it, and we will do it again.”

Miftah went on to say that the country must improve the economic conditions of the poor in the coming fiscal year by providing them with facilities.

“When poor people’s income rises, they spend it on locally produced consumer goods.” As a result, exports decrease and the development process begins. “By taking the aforementioned steps, we can achieve inclusive growth,” he said.

The finance minister went on to say that the PTI-led government’s incompetence has caused Pakistan to become the third-most expensive country.