Rs75bn allocated for AJK, GB, Rs64bn for tribal districts

Proposals presented by Muhammad Aurangzeb in his first federal budget set aside Rs75 billion for special areas, including AJK and Gilgit Baltistan, Rs64 billion for merged districts, and Rs79 billion for Science and IT, according to Radio Pakistan.

The finance minister said that Rs50 billion are being set aside for the production sector including agriculture.

KSE-100 rises over 200 points ahead of budget announcement

He said priority will be given to the projects approved following the guidelines of the National Economic Council.

Finance Minister Muhammad Aurangzeb presented his first federal budget with a total outlay of Rs18.9 trillion.

Pakistan’s budget for the upcoming year aims for a modest 3.6 percent GDP growth.

Earlier, there were reports of rifts between the government coalition partners – Pakistan Peoples Party (PPP) and Pakistan Muslim League-Nawaz (PML-N) – over budgetary measures.

Budget 2024-25 updates: FBR’s tax target 38% higher at Rs12.97trn in coming fiscal year, says Aurangzeb

It was reported earlier that Prime Minister Muhammad Shehbaz Sharif signed the documents of the Federal Budget 2024-25 after its approval from the Federal Cabinet.