Pakistan to Present Rs 18 Trillion Budget Amid Financial Challenges

The Pakistan government will present an Rs 18 trillion budget for the financial year 2024-25 on June 12, 2024. Key decisions include salary and pension increases for government employees. Proposed measures include additional taxes and GST increase. Approval from the Cabinet and Economic Coordination Committee is required before tabling the budget.

The Pakistan government is set to roll out an ambitious Rs 18 trillion budget for the 2024-25 financial year on June 12, as confirmed by the Minister of State for Finance, Ali Pervaiz Malik.

Quoting Malik, The Express Tribune reported that the budget would be presented in the National Assembly following Cabinet approval. Additionally, the minister mentioned the schedule adjustment was necessary due to Prime Minister Shehbaz Sharif's current visit to China.

The budget approval process will also involve the Economic Coordination Committee and will focus on critical areas such as salary hikes for government employees, raising pensions, and potentially increasing GST from 18 to 19 percent. Defence spending is also expected to rise, although specific figures remain undisclosed. The previous year's budget allocated Rs 1.8 trillion for defense within a Rs 14.4 trillion total budget.