ISLAMABAD: Federal Finance Minister Aurangzeb, while presenting the federal budget, said that Pakistan’s economic growth rate is expected to remain around 4 percent.
He announced that the Federal Board of Revenue (FBR) has been given a tax collection target of Rs 15,264 billion. According to the finance minister, the federal government’s total revenue is projected at Rs 11,751 billion, while current expenditures are estimated at Rs 17,491 billion. Defence spending has been set at Rs 3,000 billion.
Aurangzeb said the government aims to expand the Benazir Income Support Programme (BISP), increasing its reach to 12 million families. He added that Rs 838 billion have been proposed for BISP allocations.
He expressed gratitude to provincial governments for their cooperation during the budget process.
According to the budget speech, Rs 6.6 billion have been allocated for the industrial sector under the federal development programme. The health sector has been allocated Rs 25.1 billion, while higher education has been given Rs 40 billion.
The finance minister also announced Rs 22 billion for the Danish Schools initiative.
