Abb Takk News

Federal Budget 2019-20 To Be Tabled In NA Today

ISLAMABAD: Budget for the upcoming fiscal year of 2019-20 will be presented in National Assembly on Tuesday (today), AbbTakk News reported.

As per details, the federal government will table the budget amounting Rs6,800 billion on Tuesday before the lower house of legislation.

It is likely that the budget deficit will remain more than Rs3000 billion.

For the first time in country’s history, no increase will be done in the military’s budget.

It is likely that new taxes amounting Rs750 billion will be imposed on commodities of daily usage including consumer items, electric appliances, electronic tractors, agricultural tools and items of clothing.

However, a recommendation has been given which seeks a 10 per cent increase in salaries and pensions of government employees.

The budget will be presented once Prime Minister and members of the federal cabinet approve all minute details regarding the budget in their meeting tomorrow.

The postulates in the upcoming budget are prepared as per the conditions of the International Monetary Fund (IMF).

Recommendation of allocating Rs1,250 billion for defense purposes has been given which is the same as last year’s budget.

The finance saved from cutting down an increase in defence budget will be used for the development of sub-standard regions in Khyber Pakhtunkhwa province.

Pakistan Tehreek-e-Insaf government has decided not to grant any increase in salaries of the bureaucrats in the upcoming Budget for the financial year 2019-20.

Owing to acute economic austerity prevailing in the country, it has been recommended not to give any hike to Prime Minister and President in their monthly salaries.

According to sources, Premier Imran Khan has approved recommendations seeking to curb the economy from hitting more below the deck.

“Rs40 billion will be saved as per government’s campaign which aims to improve the economy. Prime Minister Imran Khan had himself ordered it”, sources said.

Sources added that the austerity campaign aims to freeze the salary scale of government officials whereas, similar to defence officials, the government is considering not increasing the salaries of all bureaucrats.

Moreover, only officials of Grade 1 till 16 are likely to receive pay-hike, sources added.