F.P. Report
ISLAMABAD: The National Assembly has passed the federal budget for the next fiscal year, with a total outlay of 17,573 billion rupees, focusing on sustainable and inclusive economic growth.
A motion to this effect was moved by Minister for Finance Muhammad Aurangzeb.
The House passed the Finance Bill, 2025 with certain amendments, giving effect to the financial proposals of the federal government for the year beginning on the 1st July 2025.
The budget projects an economic growth rate of 4.2 percent and an inflation rate of 7.5 percent for the next financial year.
The net revenue receipts have been estimated at 11072 billion rupees. The FBR collections are estimated to be 14131 billion rupees, which is 18.7 percent higher than the outgoing fiscal year. Non-tax revenues will be 5147 billion rupees.
2550 billion rupees have been earmarked for defense, 1055 billion rupees for the pension expenditures and 1186 billion rupees for subsidy on electricity and other sectors.
The main relief features include ten percent increase in salaries, seven percent in pensions and tax relief for the salaried class across all slabs.
716 billion rupees have been allocated for Benazir Income Support Program.
One trillion rupees have been allocated for PSDP. The biggest amount of 328 billion rupees has been earmarked for transport infrastructure projects.
The PSDP portfolio for next fiscal year has been aligned with the objectives of URAAN Pakistan, while priority has been attached to high impact, near completion, foreign funded projects and new initiatives of national importance. 32.7 billion rupees have been earmarked for Diamer Bhasha, 35.7 for Mohmand Dam, 3.2 billion rupees for K-IV, ten billion rupees for lining of Kalri Baghar Feeder and 4.4 billion rupees for installation of telemetry system on Indus Basin System.
Higher Education Commission will be given 39.5 billion rupees for one hundred and seventy projects. 18.5 billion rupees have been set aside in the PSDP for various education projects.
Four billion rupees have been allocated for ten ongoing and five new schemes in the agriculture sector.
The budget encapsulates incentives for the construction industry which include reduction in withholding tax on purchase of property.
The House will now meet tomorrow at eleven in the morning.
