In order to discuss the new loan program that Pakistan is requesting to handle its financial needs, the IMF delegation is expected to arrive in Pakistan on May 15.

Within days of the IMF mission’s arrival, sources claim that the government accelerated its budget targets preparations. Relevant ministries have been instructed by the Ministry of Finance to meet targets as soon as possible.

Based on the information provided by the sources, the IMF will get a framework for all significant budgetary targets.

Before the IMF mission arrives, a strategic paper on the FY25 budget is reportedly going to be approved by the federal cabinet.

In addition, a preliminary estimate will be created for salaries, pensions, government spending, and loan repayments. The Federal Board of Revenue (FBR) will also set tax collection goals and defense spending.

According to additional sources, the economic team has been given a deadline by the Prime Minister’s Office to finish working on the FY25 budget.

The costs of cars on the Swift models from Pakistan Suzuki Motor Company have been reduced by Rs. 710,000.

According to a notice from the corporation, the new pricing will take effect on May 1, 2024, and it is a reaction to the state of the market.

The Swift GL MT model is now available for Rs 4,336,000, a decrease of Rs 85,000, according to the notification about the changed pricing.

After dropping down Rs159,000 from its previous price of Rs4,719,000, the Swift GL CVT is now available for Rs4,560,000.

With a price drop of Rs710,000, or Rs5,429,000, to Rs4,719,000, Swift GLX CVT saw the most price decline.

According to reports, the initial assessment suggested that the federal institutions are accountable for the unneeded import of wheat. Despite existing reserves of 40.47 lakh metric tons in Punjab, an additional 35.87 lakh metric tons were imported, creating an artificial shortage.

According to sources, the research suggests that officials from Pasco and the Punjab Food Department may have been involved in the fraud.

According to sources, federal institutions permitted private enterprises to import wheat without conducting the necessary checks, and certain Ministry of Finance officials neglected to closely examine the significant import.

In addition, wheat imports persisted from September 26, 2023, to March 31, 2024, creating a significant glut of wheat on the market. Within three days, the government will receive the entire report, according to further sources.

It is important to note that the import of wheat cost the federal coffers $1 billion.

The national exchequer has lost $1 billion as a result of the private sectors’ preference for wheat imports into Pakistan, according to sources.