ISLAMABAD: The International Monetary Fund (IMF) on Saturday termed budget 2024-25 approval as not enough and demanded Pakistan to do more.

The National Assembly has approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion.

According to sources, the IMF wants Pakistan to hike the electricity and gas rates from July 1 and immediately implement the NEPRA decision regarding the increase in gas and power tariffs.

Budget approved by NA ahead of fresh IMF loan

The IMF also demanded the removal of tax exemptions and subsidies, terming them essential for the country’s economic recovery, sources added.

However, the IMF has lauded the government’s tough economic decisions in the budget, including the reduction of tax exemptions and subsidies, sources said.

Furthermore, the IMF delegation’s visit to Pakistan in the last week of June has been postponed, the team is likely to visit in the second week of July, sources added.