country’s economy, the IMF has unearthed that, in a bid to hide the real budget deficit, Pakistan’s expenditures were understated by Rs317 billion and revenues overstated by Rs215 billion.He will be the sixth finance secretary appointed during the four years of the Zardari government.
Analysts said the biggest challenge for the new finance secretary would be to control increasing expenditures and present realistic budget figures. He would also be exposed to extreme pressure from the government to maintain and continue a loose fiscal policy in a bid to lure voters ahead of the general elections.
The IMF has presented a reforms package in its report that promises a budget consolidation of up to Rs215
billion through a combination of expenditure cuts and increase in new taxes. TOT News
Norwegian
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