Pakistan passes tax-laden budget ahead of talks on fresh IMF loan

Pakistan's parliament passed a tax-heavy finance bill aimed at avoiding a debt default, amid slowest South Asian growth. The budget targets 13 trillion rupees in revenue, a 40% increase, to secure a $6-8 billion IMF bailout. Criticized by opposition, it raises taxes sharply on textiles, mobiles, real estate, and incomes, foreseeing 3.6% growth and 12% inflation.