The PTI-led federal government of Pakistan is all set to announce its first budget for the fiscal year 2019-20 today. As per the details, the budget will be announced with an estimated outlay of around Rs 6 trillion.
Abdul Hafeez Shaikh, an Advisor to Prime Minister on Finance will be presenting the budget for the fiscal year 2019-20 in the National Assembly of Pakistan at 5 pm.
As per the reports, in this budget, the federal government is likely to set the revenue collection target at Rs 5.55 trillion for the upcoming fiscal year.
The details further said that the government would introduce measures to broaden the tax base in the country, cut all expenditures and bring improvements in the tax administration.
The budget for the upcoming fiscal year will lay emphasis on the austerity, fiscal consolidation, external sector management, and the social security of the poor people of the country.
“The Budget focuses on ensuring economic stabilization, undertaking projects which create #jobs & providing economic stimulus for sustainable growth,” Dr Khaqan Hassan Najeeb, the spokesperson for Finance Division tweeted.
“The Federal Budget 2019-20 emphasises on #austerity, #fiscal discipline, external sector management and protecting the poor. Sound #policies will lay the foundation of #sustainable #growth and secure a better future for citizens,” he added.