Federal Budget 2019-2020

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.

LIVE UPDATES [BUDGET]

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.

BUDGET FEATURES

  • 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.

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