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Pakistan

Budget for the next financial year to be presented on June 12

It is proposed to increase the volume of the federal budget by 10 percent while the budget priorities have been cha
29 May 2020
  • It is proposed to increase the volume of the federal budget by 10 percent while the budget priorities have been changed due to the global uncertainty created by COVID-19.

The budget for the next financial year will be presented on June 12, with all the economic targets likely to be set down in view of the ongoing coronavirus pandemic.

As per details, the budget for the next financial year will be presented on June 12. It is proposed to increase the volume of the federal budget by 10 percent while the budget priorities have been changed due to the global uncertainty created by COVID-19.

Reports said that the International Monetary Fund (IMF) and other fund providers are being taken into confidence on the budget targets.

Sources said that health-related projects are also among the priorities in the development budget, it has been decided to keep all tone down the targets due to coronavirus.

A target of Rs5.1 trillion will be set for the Federal Board of Revenue (FBR), the tax collecting authority for the next year, tax net will be increased to achieve the targets.

A proposal of a $26 billion target for exports is under consideration in the budget.