The PTI-led federal government of Pakistan is presenting its first proper budget of around Rs 6 trillion for the upcoming fiscal year 2019-20.
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The federal budget of around Rs 6 trillion for the upcoming fiscal year 2019-20 is being presented by Hammad Azhar, the State Minister for State for Revenue.
State Minister said that there has been no increase in the exports in the past five years.
- The civil budget decreased from Rs 460 billion to Rs 437 billion
- The defense budget will remain Rs 1.150 trillion.
- A ration card scheme is being introduced. 80,000 people will benefit from this scheme with interest-free loans. 60,000 women will be given access to mobile phones.
- Rs1,800 billion kept for development programmes. Rs950 billion kept for federal development programme
- The government has announced to form a new ministry to eliminate poverty, which will introduce programs for social safety. People benefiting from the Ehsaas program include the poor, orphaned, homeless, and disabled sectors of the population
- The stipend through the BISP scheme has been increased from Rs5,000 to Rs5,500
- Taking loans from the State Bank to bridge budget deficit results in rising inflation. The federal government has decided not to do this anymore
- Inflation targets have been set at between 5 and 7 percent for the next fiscal year
- The government has decided to allocate Rs45.5 billion for Karachi’s development programme
- The government has fixed the development expenditure for tribal districts at Rs152 billion
- Increase in circular debt has fallen from Rs38 billion to Rs24 billion This will be completely eliminated in the coming years
- The government announced the subsidy of Rs40 billion for electricity, gas
- The ministers agree to voluntary 10 percent cut in salaries
- The government announced to set the minimum wage at Rs17,500
- The government announced not to increase the salaries for civilian government employees from grade 21 to 22
- The government announced to increase the pensions by 10 percent
- The government announced 10 percent ad hoc relief for government employees from grade 1 to 16
- The government announced 10 percent ad hoc relief for armed forces employees
- The government announced 5 percent ad hoc relief for government employees from grade 17 to 20
- The budget deficit to be Rs3,560 billion
- The government has announced to fix Rs 1.863 trillion for the Public Sector Development Programme
- The government has announced to allocated Rs33 billion for higher education
- The government had announced to allocate Rs20 billion and Rs15 billion to buy land for the Diamer and Bhasha, and Mohmand Dam respectively.