Given the strict International Monetary Fund (IMF) conditions that the government must meet in order to secure a loan, market observers do not expect a significant price reduction in the federal budget for fiscal year 2022-23 (FY23) to be announced today, given that consumers are already bearing the brunt of food inflation.
The news of a hike in general sales tax, withholding tax, and customs duty, as well as the introduction of a windfall profit tax, has already created a stir in the market.
