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President Dr. Arif Alvi signed the bill on supplementary finance for 2023 (Mini Budget).
The government has approved the 170 billion rupiah supplementary finance bill 2023 (money budget) from the parliament, with the conditions of receiving a loan from the IMF.
After the approval of the parliament, the bill was sent to the presidential chamber for the final approval of the president.
President Dr. Arif Alvi signed the supplementary finance bill for 2023, the bill will be implemented immediately.
With the passage of the bill, the government’s one percent increase in the GST rate and other government measures, including an increase in the tobacco tax, gained legal support.
Yesterday, the cabinet also approved a plan to save 200 billion rupees a year.
At a press conference after the government meeting, the Prime Minister admitted that the IMF agreement will lead to an increase in inflation.