Pakistan All Set To Unveil Rs18 Trillion Budget Today

(@Abdulla99267510)

Pakistan all set to unveil Rs18 trillion budget today

The budget presentation will be conducted by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb within the confines of the National Assembly.

ISLAMABAD: (UrduPoint/Pakistan Point News-June 12nd, 2024) The federal government, led by the Pakistan Muslim League-Nawaz (PML-N), is set to unveil its inaugural growth-focused budget for the fiscal year 2024-25, projecting a budget of over Rs18 trillion.

The budget presentation will be conducted by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb within the confines of the National Assembly.

Of note, the budget is being introduced amidst ongoing negotiations between Pakistan and the International Monetary Fund (IMF) for a potential financial assistance package of up to $8 billion.

The sources said that the budget's Primary objectives are to alleviate the populace's hardships, revolutionize the agricultural sector, foster advancements in information technology (IT), and stimulate exports.

Emphasizing fiscal prudence, revenue generation, economic stabilization, and growth, the government asserts that the budget will also prioritize reductions in non-development expenditures, job creation, and the implementation of policies aimed at enhancing the country's socioeconomic well-being.

Preparations for the budget announcement have been diligently underway, adhering to designated timelines and ensuring coordination among various governmental departments and ministries involved in budget-related proceedings, including the presentation of the budget in Parliament and the launch of the Economic Survey.

Recently, Finance Minister Muhammad Aurangzeb unveiled the Economic Survey of Pakistan 2023-24, revealing a GDP growth of 2.38 percent, surpassing the anticipated target of 2 percent.

Speaking at the survey's launch, Senator Aurangzeb highlighted the nation's substantial strides in achieving macroeconomic stability, evidenced by a notable 30 percent increase in revenue collection, a reduced current account deficit, inflation mitigation, and Currency stability.

Abdullah Hussain

Abdullah Hussain is a staff member who writes on politics, human rights, social issues and climate change.