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  • Apr, 30th, 25

i ECONOMY

BUDGET – Salient FeaturesBreaking

June 10, 2023


   Following are the notables of the federal budget 2023-24 released on Friday.

- Pakistan has unveiled a budget of Rs 14.46 trillion for FY2023-24, with a focus on relief and growth.

- The country aims to achieve a GDP growth rate of 3.5% for the fiscal year 2023-24.

- A substantial increase in salaries for government employees has been approved: a 35% raise for employees in Grades    1 to 16, and a 30% increase for employees in Grades 17 and above.

- Furthermore, there will be a 17.5% increase in pension for retired government employees.

- Minimum wage has been increased from Rs 25000 to Rs 30000.

- The projected budget deficit is 6.54% for the upcoming fiscal year.

- Federal Board of Revenue has been given a target of collecting Rs 9.2 trillion in taxes for the next fiscal year to meet      the country's financial needs.

- A significant portion of Rs 7.3 trillion has been allocated for interest payments.

- Budget allocates Rs 1.8 trillion for defense needs and Rs 714 billion for civil administration.

- The Public Sector Development Program will receive Rs 1,150 billion.

- For the Higher Education Commission Rs 65 billion has been allocated for current expenditure and Rs 70 billion for          development expenditure

- Rs 5 billion has been allocated for women’s empowerment in the budget

- Rs 161 billion has been allocated for highways and other communication facilities.

- Pakistan is striving to achieve SDG targets. An amount of Rs 90 billion has been proposed for this purpose.

- An amount of Rs 5 billion has been allocated to provide concessional loans to the agro-industry.

- The agriculture credit limit will increase from Rs 1800 billion to Rs 2250 billion.

- To boost IT exports, a concessional income tax rate of 0.2% will be applicable. Moreover, the issuance of automated       exemption certificates will be ensured.

- To encourage SMEs, its turnover threshold increased from Rs 250 million to Rs 800 million.

  • The Export Council of Pakistan is being established to promote exports.
  • 2% Final tax is being abolished on the purchase of immoveable property by overseas Pakistanis to promote remittances.


Credit : Independent News Pakistan-INP

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        • 21. /vendor/laravel/framework/src/Illuminate/View/View.php:91
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        Metadata
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        Backtrace
        • 16. /vendor/cartalyst/sentinel/src/Users/IlluminateUserRepository.php:72
        • 20. view::cd92d40aa993ff07e27a4084503982ba68c67898:61
        • 22. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 23. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 24. /vendor/laravel/framework/src/Illuminate/View/View.php:143
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        Metadata
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        Backtrace
        • 19. view::cd92d40aa993ff07e27a4084503982ba68c67898:61
        • 21. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 22. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 23. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 24. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        Metadata
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        • 0. color1
        Backtrace
        • 15. /app/Helpers/helpers.php:19
        • 18. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 19. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 21. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 0. color2
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        • 15. /app/Helpers/helpers.php:20
        • 18. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 19. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 21. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 0. color3
        Backtrace
        • 15. /app/Helpers/helpers.php:21
        • 18. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 19. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 21. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 0. logo
        Backtrace
        • 15. /app/Helpers/helpers.php:31
        • 18. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 19. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 21. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 0. 3
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1180μs/app/Helpers/helpers.php:45staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 3 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 4 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 9 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 7 limit 1170μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 52 limit 1170μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 7 limit 1190μs/app/Helpers/helpers.php:45staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 9 limit 1190μs/app/Helpers/helpers.php:45staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 63 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 9 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 65 limit 1170μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 9 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 66 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 9 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 67 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
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