The PTI government is ready to present its first full budget in the National Assembly.
The Rs6,800 billion budget will be unveiled at 5pm. Here’s all that we know about the budget so far.
The budget for defence will not be increased. Some people predict its budget will be reduced. This comes as a surprise because there is an approximate 10% increase in defence budget every year.
The salaries of the senior officers of the Pakistan Army won’t be increased either. The funds saved through this will be spent on development projects in Balochistan and the merged districts.
This year, Rs1,100 billion were earmarked for defence. This did not include the funds for development projects, supplementary grants, and pensions of retired officers.
Documents have revealed that Rs24 billion have been earmarked for an atomic energy commission, Rs16 billion for railways ministry, Rs300 million for the nuclear regulatory authority, Rs36 billion for finance division, Rs10 billion for PM’s youth programme, Rs10 billion for development programmes in merged districts.
The government plans to spendRs925 billion on development projects. Funds worth Rs371 billion have been kept for infrastructure facilities, Rs70 billion for water projects, Rs20 billion for health and population, Rs32 billion for education programmes, and Rs8 billion to improve the climate.
The government will crackdown against all those with benami assets too. The property of people who possess such assets can be seized and they can be jailed too.
The PTI government has recommended an increase in property rates. The government has tried to bring property rates in different cities to 75% of the market rate.
Funds worth more than Rs200 billion have been earmarked for motorways and transport. The government has kept Rs177 billion for the constructions of new roads and motorways, while Rs48 billion will be spent on the new projects of the National Highway Authority.