Follow Us on Google News
Finance Minister Muhammad Aurangzeb stated that the GDP growth rate is expected to be 3.6% in the next fiscal year, while inflation is projected to decrease to 12%.
He noted that the budget deficit stands at 6.9% of GDP, with the primary surplus expected to remain at 1% of GDP.
The Federal Board of Revenue (FBR) is estimated to collect Rs12,970 billion in taxes, a 38% increase from the current fiscal year. Consequently, the provinces will receive Rs7,438 billion as their share of federal tax collection.
The federal government has set a non-revenue target of Rs3,587 billion, while the Centre’s net income is projected to be Rs9,119 billion. The total federal expenditures are estimated at Rs18,877 billion, with Rs9,775 billion allocated for interest payments.
“PM Shehbaz-led coalition government deserves congratulations for their untiring efforts to revive the economy,” Aurangzeb remarked.
He highlighted that inflation, a primary concern for Prime Minister Shehbaz Sharif and his team, dropped to nearly 12% in May, leading to lower prices for essential commodities.
“This is no ordinary achievement given the existing challenges,” he said, predicting a further decline in inflation. The minister also mentioned that foreign exchange reserves have remained stable.
