Pakistan has set a challenging tax revenue target of 13 trillion rupees for the fiscal year beginning July 1.

Pakistan has set a challenging tax revenue target of 13 trillion rupees ($46.66 billion) for the fiscal year beginning July 1, representing a nearly 40% increase from the current year. This move aims to strengthen its position for securing a new bailout deal with the International Monetary Fund. 

The ambitious revenue goals for the fiscal year ending June 2025 align with analyst expectations. Key objectives include reducing the public debt-to-GDP ratio to sustainable levels and prioritizing improvements in the balance of payments position, as outlined in the government's budget document.

For the new financial year, Pakistan projects a significant reduction in its fiscal deficit to 5.9% of GDP, down from an upwardly revised estimate of 7.4% for the current year. Despite revenues increasing by 30% year-on-year, GDP growth is expected to be 2.4% for the current year, falling short of the 3.5% target.

Finance Minister Muhammad Aurangzeb, presenting the budget, emphasized the government's intention to broaden the tax base to avoid overburdening existing taxpayers.