Govt all set to present budget for fiscal year 2022-23
Federal budget worth more than Rs 9,000 billion for the fiscal year 2022-23 will be presented today
ISLAMABAD (Dunya News) - The federal budget worth more than Rs 9,000 billion for the fiscal year 2022-23 will be presented today. Federal Minister for Finance and Revenue Miftah Ismail will present the budget in the National Assembly, Dunya News reported.
According to the budget documents, tax revenue is expected to be Rs 7,255 billion. Non-tax revenue is expected to be around Rs 1,626 billion in the budget for the fiscal year 2022-23.
The budget deficit is expected to be Rs 4,282 billion. Rs 4,215 billion will be transferred from the federation to the provinces while Rs 1,232 will be allocated for grants.
Rs 800 billion will be allocated for the Public Sector Development Programme (PSDP) in the budget for the fiscal year 2022-23 while Rs 538 billion will be allocated for federal ministries and departments.
According to the budget documents, Rs 121 billion has been proposed for the National Highway Authority (NHA), while Rs 96 billion has been proposed for water resources.
Sources said that for the development of the merged tribal districts in the Khyber Pakhtunkhwa Rs 50 billion has been proposed while Rs 96.36 billion has been proposed in the development budget for Azad Kashmir and Gilgit-Baltistan.
Rs 49 billion has been proposed for Pakistan Electric Power Company (PEPCO) and Rs 33 billion for Railways in the budget for the fiscal year 2022-23.
The coalition government has decided to allocate Rs 25 billion for Atomic Energy Commission, while Rs 41.87 billion will be allocated to Higher Education Commission (HEC) and Rs 2.5 billion for Aviation.
The Ministry of Climate Change will be given Rs 9.5 billion. It has been proposed to allocate Rs 10.47 billion for the Ministry of Home Affairs, Rs 12 billion for the Ministry of Health, Rs 12 billion for the Ministry of Food Security and Rs 3.1 billion for Maritime Affairs.
Sources said that Rs 84 billion has been proposed for energy sector, Rs 83 billion for water schemes while Rs 39 billion will be given to Housing Ministry and Planning.