Minister for Industries and Production Hammad Azhar will present the Federal Budget for the fiscal year, 2020-21.
ISLAMABAD: (UrduPoint/Pakistan Point News-June 12th, 2020) The budget session of the National Assembly will be held on Friday at 4.00 pm at the parliament house in Islamabad.
Minister for Industries and Production Hammad Azhar will present the Federal Budget for the fiscal year, 2020-21. The session of upper house will also be held today at Parliament House in Islamabad at 5 p.m.
Minister for Industries and Production, will lay before the Senate a copy of the Finance Bill, 2020, containing the Annual Budget Statement.
According to details, the budget session of the National Assembly will commence at 4pm today.
The volume of federal development budget is proposed to be Rs. 650 billion while the growth rate target is proposed to be 2.3 percent.
Federal ministries and departments will get a development budget of Rs. 536 billion, Aviation Division of Rs 1.30 billion, board of Investment of Rs. 800 million while Cabinet Division will get a development budget of Rs. 37.52 billion.
In departments, Climate change has been allocated a budget of Rs. 5 billion, Commerce Division of Rs. 100 million, Education of Rs. 4.51 billion while higher education commission will be allocated a budget of Rs. 29 billion.
The finance ministry will spend Rs 50.47 billion on development projects.
The Ministry of Human Rights will receive Rs. 250 million, Ministry of Industry and Production will spend a development budget of Rs. 800 million while Ministry of Information IT ministry will receive a budget of Rs. 300 million and Rs. 6.38 billion respectively.
Moreover, Interior ministry will get a budget of Rs. 13.70 billion, Ministry of Law of Rs. 1.5 billion, and ministry of maritime affairs of Rs. 2.23 billion, ministry of anti-narcotics of Rs. 50 million while petroleum division will get a budget of Rs. 1.5 billion.
A special session of the Federal Cabinet chaired by Prime Minister Imran Khan will also be held tomorrow to approve budget for the next year.
It may be pertinent to mention here that the federal government had decided to present a tax-free budget for the fiscal year 2020-21.
