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Budget 2021-22: Pakistan moving towards economic stability after a long time, Fawad Chaudhry

Arhama AltafWeb Editor

11th Jun, 2021. 12:17 pm
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Budget 2021-22 Fawad Chaudhry

Ahead of the federal budget 2021-22, Federal Minister for Information and Broadcasting Fawad Chaudhry has on Friday said that Pakistan is moving towards economic stability after a long time under the leadership of Prime Minister Imran Khan.

In a tweet, today, Fawad said all the economic indicators are positive.

The Minister said political and economic stability was attained due to full confidence of the general public and institutions in the vision of Prime Minister Imran Khan.

He urged the opposition to treat accountability and reforms separately and take part in the negotiation process with the government for electoral and judicial reforms.

On the other hand, all eyes will be on the National Assembly as the PTI-led government presents its third federal budget today (Friday).

The government has said it aims to move towards growth from stabilisation via direct interventions to provide relief to four to six million people. The budget revolves around the three Ds on the expenditures front, including debt servicing, defence and development.

Alarmingly, the resource envelope has diminished after paying resources to provinces under the NFC mechanism and fulfilling the debt servicing obligation.

The budget for the financial year 2022-2021 will be presented in the National Assembly today.

The total volume of the budget for the year 2021-22 is likely to be more than Rs 8,000 billion, which will be presented by the Federal Minister of Finance Shaukat Tarin in the National Assembly.

Will there be an increase in the salaries of government employees or not? The final decision will be taken at a meeting of the federal cabinet before the budget is presented.

It is proposed to increase the salaries of government employees by 10 to 15 per cent.

900 billion is being set aside for the federal development budget and Rs. 1,330 billion for defence.

The target for tax collection in the new financial year will be Rs 5,705 billion, 480 billion in pensions, 530 billion in subsidies, 900 billion in development budget, 510 billion in civil government expenditure and 994 billion in grants.

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