Connect with us

Latest News

President Asif Zardari emphasizes the importance of offering assistance to the impoverished and middle-income groups in the federal budget.

Published

9 months ago

on

President Asif Ali Zardari has emphasized the importance of offering assistance to the impoverished and middle-income individuals in the forthcoming federal budget for the fiscal year 2024-25.

President Asif Ali Zardari expressed these remarks during in a meeting with Prime Minister Shehbaz Sharif. The conference was attended by Ahsan Iqbal, the Federal Minister for Planning and Special Initiatives.

Prime Minister Shehbaz Sharif held a meeting with President Asif Ali Zardari on Tuesday to request complete support from him and the Pakistan Peoples Party (PPP) for the next budget approval.

The President pledged to offer complete cooperation in attaining the objectives for the economic and developmental advancement of the nation.

Additionally, please peruse: Overview of the 2024-25 Budget

Both parties engaged in a discussion over the current economic state of the country. In addition, they deliberated on factors regarding the provision of assistance to the general people in the forthcoming budget.

Prime Minister Shehbaz Sharif also briefed the president about his recent visit to China. Leaders of nations and governments also deliberated on the development initiatives outlined in the forthcoming budget.

President Asif Ali Zardari emphasized to the Prime Minister the importance of offering assistance to the impoverished and middle-class individuals in the forthcoming federal budget.

The government is set to unveil a budget of Rs. 18 trillion.

It is important to mention that the government is prepared to deliver a federal budget above Rs18,500 billion today (Wednesday).

The government has allotted a sum of Rs2,100 billion for defense expenditures and Rs9,700 billion for interest payments on reserved loans. An allocation of Rs. 1500 billion has been made for development projects.

The budget allocates 253 billion rupees for the energy sector, 827 billion rupees for infrastructure, 800 billion rupees for energy sector subsidy, 206 billion rupees for water resources, and 279 billion rupees for transport and communication. The budget has a GDP growth target of 3.6 percent.

The Federal Board of Revenue (FBR) will collect taxes amounting to Rs. 12,970 billion.

The Federal Board of Revenue (FBR) has been assigned a tax collection target of 12,970 billion rupees for the upcoming fiscal year.

The Federal Board of Revenue (FBR) would need to generate an additional revenue of 3,720 billion rupees, with 3,452 billion rupees coming from direct taxes and 267 billion rupees from customs duties, in comparison to the current financial year.

The Inland Revenue’s tax revenue is projected to reach 11,379 billion rupees, with direct taxes accounting for 5,512 billion rupees and income tax contributing 5,454 billion rupees.

The income tax volume has set an extra objective of 1773 billion rupees, bringing the total aim to 2500 billion rupees.

Conversely, the parliamentary party of PPP convened a meeting led by former foreign minister Bilawal Bhutto Zardari. During the meeting, assembly members voiced their apprehensions about the budget and stated that the terms upon which Shehbaz supported the government have yet to be fulfilled.

PPP leader Syed Khurshid Shah expressed his lack of knowledge on the specific details of the budget, as well as the agreements with the IMF and China, during a conversation with the media. In the past, the opposition was consulted, while an ally is not consulted.

The government is presenting a growth-oriented budget today, which amounts to Rs18,900 billion.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

COAS Visits Bannu and Promises Terrorism Justice

Published

3 days ago

on

By

Syed Asim Munir, the Chief of Army Staff, traveled to Bannu after the March 4 terrorist attack on Bannu cantonment was thwarted.
COAS examined the general security situation in the region as well as ongoing security operations during the visit.
At CMH Bannu, he also spoke with wounded soldiers and praised their tenacity and commitment. Speaking to the troops, he reaffirmed the Pakistan Army’s commitment to combating terrorism and commended their prompt action in neutralizing the assailants.
In addition to expressing sympathy to the families of the civilians slain in the strike, General Munir promised that those responsible for the planning and execution would shortly face consequences.
He emphasized that such activities reveal Khwarij’s true nature as enemies of Islam and denounced the savage targeting of innocent people.
The COAS underlined that Pakistan will not permit its stability to be jeopardized and that terrorist organizations, such as Fitna al-Khawarij, continue to use foreign weapons while operating from Afghan territory.
When he arrived, Corps Commander Peshawar welcomed him.

Continue Reading

Latest News

Ethiopia-Pakistan Relations: Ethiopian Ambassador Presents Fraternity Award to Khawaja Asif

Published

3 days ago

on

By

Khawaja Muhammad Asif, the minister of defense and aviation, received the “Ethiopia-Pakistan fraternity award” from Ethiopian Ambassador Dr. Jemal Beker.
In appreciation of Khawaja Asif’s noteworthy contributions to enhancing Pakistan-Ethiopia bilateral ties, the award was given out.
The Ethiopian Envoy, who spoke at the event, praised the Minister’s work to strengthen the two countries’ diplomatic and economic relations.
The Ethiopian Ambassador said, “Khawaja Muhammad Asif has played a pivotal role in enhancing Ethiopia-Pakistan relations.”
Additionally, he recognized the minister’s pivotal involvement in Ethiopian Airlines’ establishment in Pakistan, which has strengthened connections between the two nations.
In addition to thanking Ethiopia and its ambassador for the honor, Khawaja Asif reaffirmed Pakistan’s commitment to developing closer ties with Ethiopia.
The Ethiopian Ambassador emphasized that Pakistan and Ethiopia had better bilateral ties than before.

Continue Reading

Business

Issues Affecting Pakistan’s Textile Mills Industry: The Government Is Determined To Address Textile Industry Concerns: FM

Published

3 days ago

on

By

Muhammad Aurangzeb, minister of finance, has stated that the government is firmly committed to helping the textile industry in every way possible.
He made this pledge today in Islamabad during a meeting with the All Pakistan Textile Mills Association’s leadership.
In order to guarantee the long-term sustainability and future expansion of Pakistan’s industrial sector, the Minister also reaffirmed the government’s commitment to addressing important tax, energy, and funding challenges.
He welcomed the APTMA office-bearers and gave the delegation his word that the government is committed to resolving the issues facing the textile industry since it understands how important it is to Pakistan’s economy.
Muhammad Aurangzeb underlined that resolving the fundamental issues facing the sector is essential to establishing an atmosphere that is favorable for industrial expansion, promoting economic stability, and bolstering the country’s overall growth trajectory.

Continue Reading

Trending