Annual budget for 2024-25 likely to be presented on June 8

Author: inp

The annual budget session of the National Assembly has been scheduled to commence on June 5 at 5pm. It confirmed that the session will mark the beginning of discussions on the federal budget for the upcoming fiscal year.

According to media reports, the decision to present the federal budget for the next fiscal year in the National Assembly has been finalized for June 8.

Finance Minister Muhammad Aurangzeb is slated to present the budget, outlining the government’s financial plans and allocations across various sectors.

Following the budget presentation, debates on the proposed budget are set to kick off from June 10. Members of the National Assembly will engage in detailed discussions, analysing the budgetary proposals and their potential impact on the nation’s economy and welfare. The approval of the budget is expected to be sought in the last week of June, following the conclusion of Eidul Azha.

Meanwhile, the Khyber Pakhtunkhwa Assembly has already presented its budget for the fiscal year 2024-25, with a surplus of Rs100 billion. KP Finance Minister Aftab Alam presented the budget. The total revenue for the province was estimated at Rs1,754 billion, while the total expenditure was Rs1,654 billion. Under the new budget, basic salaries for government employees will see a 10% increase, alongside a corresponding 10% rise in monthly pensions. Additionally, the minimum monthly wage is set to rise from Rs32,000 to Rs36,000, aimed at improving the livelihoods of workers across the province.

Share
Leave a Comment

Recent Posts

  • Business

Pakistan’s regional exports increase 20% in 11 months

Pakistan’s exports to the seven regional countries witnessed an increase of 20.61 per cent in…

7 hours ago
  • Business

FM assures ‘favorable outcome’ for public, business in final budget

Federal Minister for Finance & Revenue Muhammad Aurangzeb, who is currently involved in the finalisation…

7 hours ago
  • Business

Equity swap only option to address circular debt issue, says PSO

The management of Pakistan State Oil (PSO), the country's largest oil-marketing company (OMC), believes equity…

7 hours ago
  • Business

PSX witnesses bearish trend, loses 578 points

The 100-index of the Pakistan Stock Exchange (PSX) witnessed a bearish trend on Monday, losing…

7 hours ago
  • Business

Gold rates up by Rs.500 per tola to Rs.242,000

The price of per tola of 24 karat gold increased by Rs.500 and was sold…

7 hours ago
  • Business

Rupee sheds 11 paisa against Dollar

Pakistan Rupee on Monday lost 11 paisa against the US Dollar in the interbank trading…

7 hours ago