Federal govt all set to present budget on June 12

ISLAMABAD: The federal government has cleared the air on budget presentation as the budget for the financial year 2024-25 will be presented in Parliament on June 12 (Wednesday).

As per the media reports, the Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb will present the budget which has been prepared considering the current challenges facing the economy on the domestic and international fronts.

Government sources said the budget aims to alleviate public suffering, transform the agricultural sector, promote information technology (IT) and boost exports.

The government also claimed that apart from fiscal management, the budget also included people-friendly policies for revenue mobilisation, measures for economic stability and growth, reduction of non-developmental expenditure, creation of employment opportunities and socio-economic prosperity of the country. will b

Preparations for the announcement of the federal budget for the financial year 2024-25 are in full swing as per the prescribed timelines.

The budget is being prepared in close coordination between all departments and ministries involved in budget-related events, including the presentation of the budget in Parliament and the launch of the Economic Survey.

It is worth mentioning here that this budget is being presented at a time when Pakistan is considering a package of up to 8 billion dollars from the International Monetary Fund (IMF).

Meanwhile, ‘The Economic Survey of Pakistan’ – a pre-budget document that presents the state of the country’s economy, will be presented on Tuesday, a day before the budget is presented. The survey will highlight the overall performance of the economy during the outgoing financial year, which will provide a realistic feedback and basis for future planning.

According to the statement released by the Ministry of Finance, Finance Minister Muhammad Aurangzeb will release the pre-budget document in the National Assembly. The survey comes ahead of the federal budget 2024-25, which is scheduled to be presented on June 12 (Wednesday).

The Economic Survey of Pakistan provides details on important socio-economic developments, performance and economic trends of various sectors of the economy including agriculture, manufacturing and industry, services, energy, information technology and telecom, capital market, health, education, transport. will do and communication etc

The survey will also detail annual trends in major economic indicators, such as inflation, trade and payments, public debt, population, employment, climate change, and social security.