Islamabad :
The government will present a budget of about Rs 8,000 billion for the new financial year in Parliament today, which is expected to increase salaries by up to 25 per cent.
The federal government is presenting a budget worth around Rs 8,000 billion for the new financial year 2020-21 in the parliament. However, before presenting it, the budget will be presented in a special meeting of the federal cabinet chaired by the prime minister. Will be approved and a final decision will be made to increase the salaries and pensions of government employees.
It is expected that the salaries will be increased by a total of 25%, of which the basic salary will be increased by 10-15% and the rest will be given as ad hoc relief.
According to sources in the finance ministry, the federal budget is more than Rs 8,000 billion, of which Rs 3,105 billion is for interest payments, Rs 1,330 billion for defense and Rs 5,829 billion for FBR tax collections. There are proposals to keep 26 26.8 billion, while the import target will be set at 55 55.3 billion.
According to sources, the current account deficit target is proposed to be دو 2.3 billion, remittance target could be 31 31.30 billion, Rs 994 billion in grants, Rs 501 billion in subsidies, GDP. It is proposed to have a target of 4.8 per cent, inflation target of 8 per cent, industrial sector growth target of 6.8 per cent and manufacturing sector growth target of 6.2 per cent.
