The tax collection by the Federal Board of Revenue (FBR) is estimated at Rs12,970 billion for FY2024-25 which is 38% more than the current fiscal year.
This was announced by Finance Minister Muhammad Aurangzeb in his maiden budget speech, here today in Islamabad.
Aurangzeb said the province’s share in the federal tax collection will be Rs7,438 billion.
The federal government has set a non-revenue target at Rs3,587 billion, while the Centre’s net income is Rs9,119 billion, the finance minister said adding that total federal expenditures have been estimated at Rs18,877 billion of Rs9775 billion will be spent on interest payments.
At the outset of his speech, Finance Minister Aurangzeb said that PM Shehbaz Sharif and his team should be congratulated over his efforts in past one year to revive economy. He vowed that Pakistan will soon be on the path of inclusive and sustainable economic growth.
The finance minister announced a 101 per cent increase in the development budget, noting that 81pc has been allocated for ongoing schemes and 19pc for new schemes.
