Pakistan’s proposed budget for the fiscal year 2024-25 signals a significant move towards fiscal consolidation and debt sustainability. The budget prioritizes austerity measures, including spending cuts and increased taxation, aiming to reduce the country’s substantial debt burden and stabilize the economy. Key features include a projected primary surplus and a focus on revenue enhancement through tax reforms. Social safety nets will be expanded, but overall development spending faces reductions. The government anticipates securing a new IMF loan, contingent on implementing these reforms. The budget also outlines plans to attract foreign investment and promote exports to bolster economic growth, despite the challenging economic climate. Critics express concerns about the potential impact of austerity on vulnerable populations and the feasibility of achieving ambitious revenue targets.