Monday May 30, 2022

Budget Preparations Enter Final Phases As It Will Be Presented On June 10

Islamabad: Preparation of budget of new financial year 2022-2023 has entered in a final phase as the budget will be presented in the National Assembly on June 10.

For the determination of economic targets. Annual Plan Coordination Committee (APCC) meeting has been called on June 4.

The National Economic Council (NEC) meeting will approve annual development projects and Public Sector Development Program (PSDP).

Besides, targets of inflation, exports, imports, Pakistan’s remittances from overseas workers will be set as well.

As per the planning commission it is likely that federal development budget will be set at Rs 700 billion.

According to FBR sources, a proposal to levy additional tax of Rs 1155 billion is under consideration while a target of tax recoveries will be set at Rs 7255 billions likely.

As many as Rs 843 billion recovery is suggested under the custom duty.

According to finance division it is likely that Rs 1586 billion will be set on defence, a whopping amount of 3523 will be set for interests on loans for an estimate of initial payment.

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