Pakistan is set to present its federal budget for the next fiscal year in the National Assembly today, with Finance Minister Muhammad Aurangzeb expected to unveil a Rs17.5 trillion spending plan. The session will begin at 3:00 PM, preceded by a federal cabinet meeting at 2:30 PM chaired by the Prime Minister to approve the budget proposals.
According to official details, the budget sets a tax revenue target of Rs15.267 trillion, while a massive Rs7.824 trillion is allocated for interest payments on public debt. Defence spending is projected at Rs3 trillion. Authorities are also considering an increase in salaries and pensions for government employees.
On the external front, exports are targeted at $32.8 billion, while imports are estimated at $70 billion. The government is reportedly not planning any new development schemes, focusing instead on ongoing projects. A petroleum levy collection target of Rs1.727 trillion has been set, and the tax exemption status of former FATA regions is likely to be withdrawn.
