Proposed Budget Includes Significant Subsidies for Priority Sectors, Government Says

News Desk3 weeks ago

The proposed subsidies for the development of several sectors in Pakistan are as follows: Rs 276 billion for the electricity tariff differential; Rs 9.50 billion for the Balochistan Agricultural Tube Wells; and Rs 1190 billion for the power sector.

In a similar vein, the government provided subsidies of Rs 62 billion to the areas of FATA and Khyber Pakhtunkhwa (KP), Rs 108 billion to the Azad Kashmir Tariff Differential, Rs 48 billion to the Pakistan Energy Revolving Fund, and Rs 174 billion to K-Electric.
It is important to note that Senator Muhammad Aurangzeb, the federal minister of finance and revenue, pledged “significant” relief for government workers, raising their pay by up to 25%.

The finance minister remarked, presenting the budget for the fiscal year 2024–25 on the floor of the National Assembly.

The finance minister also suggested a 15% raise in pensions for retired workers in the budget. A worker’s minimum monthly salary is now Rs 37,000 instead of Rs 32,000.

Read more: Salary Income Tax Rates in the 2024-25 Budget: What You Need to Know

Muhammad Aurangzaib stated that the government recognized the struggles its workers faced and has taken action to solve them, even in the face of financial constraints.

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