MQM-P Convenes Meeting to Debate Budget Recommendations

News Desk2 weeks ago

According to sources who spoke with ARY News, the meeting’s main topic will be development plans for Hyderabad and Karachi. According to additional sources, MQM-P will make its recommendations for more financing for the cities, notably for law and order, health care, and education.

The budget for transportation and the Safe City project will also be discussed during the meeting; MQM-P is attempting to acquire more money for these projects.

Read more:Clinics on Wheels Project Launched by Punjab CM Maryam Nawaz

According to sources, former finance minister Sardar Ahmed has also been invited to the conference and will be sharing his opinions on the development plans and budget.

On June 7, the Pakistani government is expected to unveil the federal budget for the upcoming fiscal year 2024–25, which is projected to cost Rs 16,700 billion in total.

With one eye on the unstable economic climate and the other on the 24th “longer and larger” rescue program of the International Monetary Fund (IMF), the government will publish the budget for 2024.

According to sources, the initial estimate for expenditures on interest and loans is Rs 9,700 billion, while the initial estimate for subsidies is Rs 1,500 billion.

Sources said that the estimate for tax revenue is over Rs 11,000 billion, with direct taxes expected to contribute Rs 5,300 billion and federal excise duty expected to contribute Rs 680 billion.

According to sources, customs duties are predicted to bring in over Rs 1,100 billion, while sales tax is anticipated to bring in over Rs 3,850 billion.

The petroleum charge is anticipated to produce Rs 1,100 billion of the initial forecast of non-tax revenue, which is Rs 2,100 billion. According to sources, the government budget deficit is anticipated to reach approximately Rs 9,300 billion.

Leave a Reply

Your email address will not be published.