Pakistan takes the crown for Asia’s fastest inflation, with inflation surging to 36.4% in April—the highest since 1964

Issues nearly Rs620b in supplementary grants in first 10 months of FY23

Finance ministry admits central bank’s contractionary monetary policy not working

Commission recommends minimum tax on all movable, immovable assets

ECC fixes wheat procurement target at 5 million metric tons for new crop

Goal missed despite introducing mini-budget, steep currency devaluation

External financing needs to stay over $34b highlighting need for another IMF bailout

For this fiscal year the government had targeted to restrict the pace of inflation at 11.5%

Ministry warns that more shocks will keep debt above 70% until 2026

Provides funds via bank’s Karachi branch due to Pakistan’s poor credit rating