Strong indications are emanating from the ministry of finance that the national budget would be presented before the National Assembly in the second week of June.
Major features of the budgetary framework are understood to have been finalised in Dubai by Pakistan’s economic team led by Finance Minister Ishaq Dar and an IMF mission headed by adviser, Middle East and Central Asia, Jeffrey Franks.
Indications are that overall size of the federal budget would be around Rs3.9trn including a defence expenditure of about Rs720bn and debt servicing of Rs1.550trn. Federal development programme is estimated to be around Rs530bn. Provisions for a little over Rs300bn for running of the civil administration, about Rs180bn worth of pension bill and subsidies of about R350bn are also stipulated.
The target for federal board of revenue was being pitched at about Rs2.8trn while non-tax revenue is proposed at about Rs700 billion. The government also planned to change duty structure for import of vehicles but the general sales tax rates would remain unchanged at 17pc.