Islamabad: The federal government is likely to present a budget of 170 trillion on June 7.
In total, the federal budget for the next financial year 2024-25, which is more than 17 trillion rupees, is likely to be presented in the parliament on June 7. Before the budget is presented in the parliament, it was approved in a special meeting of the federal cabinet to be held on June 7. will go
Sources in the Ministry of Finance say that the federal budget for the next financial year is being finalized and the consultation regarding budgeting is also ongoing with the IMF review mission that has visited Pakistan.
Discussions are ongoing with the IMF on other targets including revenue generation in the next fiscal year’s budget. Sources say that the volume of federal expenditure in the next fiscal year 2024-25 is expected to be 17 trillion rupees. Interest and debt payments are estimated at Rs 9.5 trillion.
800 billion rupees are expected to be allocated for subsidies in the energy sector and the federal tax revenue is expected to be more than 11.2 trillion rupees. A target of 680 billion rupees is likely to be set in terms of federal excise duty and a target of 3900 billion rupees is likely to be set in terms of sales tax.
The initial estimate of non-tax revenue in the budget is 2100 billion rupees, while the target of receiving more than 1050 billion rupees from petroleum levy is expected.
