Prime Minister Shehbaz Sharif has earmarked Friday June 10 as the date of the budget announcement for fiscal year 2022-23.

According to a statement from the Ministry of Finance and Revenue, the prime minister green-lighted the schedule of submission of the budget for FY2022-23 in the National Assembly and its transmission to the Senate of Pakistan.

“It is accordingly requested that a special budget meeting of the federal cabinet may be convened for consideration of the budgetary proposals,” it said.

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It further called for communicating the venue and time for the special meeting.

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At present, the government of Pakistan is engaged with the International Monetary Fund to resume the $6 billion Extended Fund Facility (EFF). The programme is crucial for the country as it passes through a liquidity crunch.

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As the government continues with the fuel subsidy introduced by the previous government, it has banned the import of 38 items to contain the import bill. The government said the said measure would save $6 billion per year in imports.