(MENAFN- Khaleej Times) Pakistan?s federal budget for fiscal year 2014-15 with a proposed outlay amounting to rs3.
pakistan’s federal minister for finance economic affairs revenue and statistics senator mohammed ishaq dar will present the budget to the national assembly at 4:30pm.
president mamnoon husain has summoned the national assembly to meet for the purpose. all necessary arrangements have been made for the smooth conduct of the budget session.
a whopping rs1.3 trillion is likely to be allocated for the repayment of loans and interest on it in the budget. subsidies worth rs229 billion are likely to be provided to the people. according to media reports the tax revenue target is likely to be set at rs2.810 trillion and non-tax revenue collection is estimated at rs815 billion.
the federation will provide rs1.7 trillion to provinces under the national financial commission award. the provinces will also receive a grant to the tune of rs35 billion. a sum of rs85 billion is likely to be earmarked for an income support programme.
the government is planning to raise salaries and pensions ranging between 10 to 15 per cent. a sum of rs225 billion is estimated to be earmarked on account of pensions of employees and rs295 billion is estimated to be spent on salaries.
the development budget of the federation has been proposed at rs525 billion. the federation can suffer a deficit of rs1.63 trillion in the next budget. however provinces will provide a surplus amount of rs225 billion to the federation. this will set the overall deficit of the country at rs1.495 trillion. — online
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