Pak Budget for FY 2022-23 fails to address Structural Issues in the Economy
Even as the Pak economy is faced with daunting challenges, the budget for FY2022-23 is neither innovative nor bold enough to address the structural issueswhich are proving a hurdle to economic revival of the country. The economy whichhas been continuously facing twin deficit (fiscal deficit and current account deficit)in the recent past while inflation is getting out of control with an imminent threat oflooming default. The authorities should have endeavoured to take up boldstructural reforms, but the budget disappointed.It came as a shock to both international and domestic observers as well theInternational Monetary Fund (IMF) that Finance Minister Miftah Ismail’s USD 47billion federal budget for the ensuing fiscal year has done little to address thefundamental problems facing the econom...