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Pakistan’s new government presents its first budget as it seeks a new long-term IMF bailout

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Published 10:33 AM

By MUNIR AHMED
Associated Press

ISLAMABAD (AP) — Pakistan’s new coalition government presented its first budget in parliament. It is promising an increase of up to 25% in the salaries of government employees and setting an ambitious tax collection target. Talks with the International Monetary Fund about a new bailout continue. Analysts say the new budget of about $68 billion is aimed at qualifying for a long-term loan of $6 billion to $8 billion from the IMF to help stabilize the economy. It nearly defaulted last year on the payment of foreign debts.

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