KARACHI: Assuming record high mark up cost due to high interest rate, the coalition government is likely to present a Rs13-15 trillion budget for the fiscal year 2023-24, The report said that the government is expected to set the target of Rs9-9.2 trillion for the fiscal year 2023-24, up 21% from the target of Rs7.5 trillion set for the current fiscal year. It should be noted that if set, the tax target for the financial year 2023-24 would be 29% higher than the expected tax collection in the outgoing FY23. The brokerage house said it’s a challenging time for the government to present a budget for the next year amid stagflation and uncertainties related to upcoming elections and how Pakistan would bridge its external account funding gap.
