Pakistan’s newly announced budget for fiscal year 2024-25 prioritizes fiscal consolidation and debt servicing, offering limited relief to citizens grappling with economic hardship. The budget includes substantial tax increases, particularly impacting the middle class, while reducing development spending. Key measures include increased income tax rates for higher earners and adjustments to sales tax. The government defends the austerity measures as necessary to meet International Monetary Fund (IMF) conditions for continued financial assistance and stabilize the economy. Critics argue the budget disproportionately burdens those already struggling with inflation and a high cost of living, potentially fueling social unrest. The finance minister emphasized a focus on broadening the tax base and reducing reliance on borrowing, but opposition parties have condemned the plan as anti-people and unsustainable. The budget forecasts a modest economic growth rate and aims to control the fiscal deficit.