- The Ministry of Climate Change should receive RS2.78 billion in the budgetary plan.
- The investment council has intended RS1.10 billion for next year.
- The trade division proposed an RS400M allowance.
The federal government plans to reserve 1 billion of rupees for development projects during the next financial year 2025-2026, against the request of the ministries of RS3 Billion, according to official documents.
Initially, the Ministry of Finance had given an indicative budgetary ceiling of RS0,921 Billions, but later it was brought to Rs 1 Billion.
A large part of the expenses proposed should go to the firm division, which was allocated to 50.33 billion rupees.
The government also plans to allocate 1.10 billion rupees to the investment council to support efforts to attract new investments in the country.
To respond to environmental concerns, 2.78 billion rupees were proposed for the Ministry of Climate Change. The trade division should receive 400 million rupees, while the communications division should obtain 200 million rupees.
The defense division was allocated to 11.55 billion rupees and 1.78 billion rupees were proposed for the Defense Production Division. The establishment’s division should receive 495 million rupees.
These allowances are part of the Public Sector Development Program (PSDP), which the government uses to support infrastructure, reforms and key public services. The full budget will be presented in Parliament later this month for approval.
The news said on Tuesday that a total allocation revised downwards the development spending on RS1.096 Billions, the federal government has so far used only 54% funds (RS0.593 Billions) in the first 11 months of the outgoing financial year.
The controversial STO success program for parliamentarians, intended only for treasury benches, used 71% funds equivalent to RS35 billion against the revised allowance of 48 billion rupees during the outgoing financial year.
There is only one month left, it remains to be seen how many funds will be used during the outgoing financial year.
It should be noted that development spending was initially set at RS1.4 Billions for the PSDP, including public -private partnership projects, but it was revised twice down – first to Rs1.25 Billions, then to Rs1.096 billion The news.
The federal budget for the next financial year promises to be a document guided by the International Monetary Fund (IMF), heavy, aimed at stabilizing the economy while establishing a delicate balance between budgetary consolidation and targeted emergency services.
The budget will be presented by the Minister of Finance Muhammad Aurangzeb to the National Assembly on June 10, if there are no other delays. It was previously scheduled for June 2, but the date was put forward after the interviews with the IMF on tax clashes.
Before the budget, analysts of Topline Securities and Arif Habib Limited Forecast, the government will retain its history of improving primary balance, aimed at 1.6% of GDP this year.
Pakistan and IMF are getting closer to an agreement on tax relief proposed for the salaried class in the next federal budget of 2025-20126, The news reported on Sunday.
However, reaching the objective of ambitious income from RS14.2 Billion will pose an important challenge, in particular in the light of the expansion of the deficit against the revised tax collection objective of RS12.33 Billions for the current exercise.