In his speech to the National Assembly on Tuesday to wrap up the federal budget for the FY25 debate, Finance Minister Senator Muhammad Aurangzeb announced an honorarium equal to three months’ salary for National Assembly staff members.
According to the finance minister, the government’s goal to implement reforms and lift the country out of its current economic predicament is the foundation of the budget.
The minister emphasized once more how committed the administration is to raising the tax-to-GDP ratio to 13%. He also underlined the government’s intention to restructure the energy sector and state-owned companies (SOEs).
Aurangzeb said that the government has set aside Rs. 350 billion in the Rs. 1,500 billion Public Sector Development Programme (PSDP). According to him, 81 percent of the development money has been set aside for ongoing initiatives.
The minister went on to assert that the administration has successfully lowered inflation and expressed a desire to make sure the little-discussed International Monetary Fund (IMF) program is the final one.
Additionally, he stated that the administration aims to lower spending and lessen the burden of pensions.
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