Finance Minister Senator Muhammad Aurangzeb addressed the National Assembly to conclude the federal budget for the FY25 discussion on Tuesday and announced an honorarium equivalent of three-month salaries for National Assembly employees.
The finance minister said that the budget is based on a homegrown plan for reforms through which the government wants to take the country out of the current economic situation.
The minister once again highlighted that the government is determined to increase the tax-to-GDP ratio to 13 percent. He also mentioned that the government wants to undertake reforms in the state-owned enterprises (SOEs) and the energy sector.
Aurangzeb said that the government has set aside Rs. 350 billion in the Rs. 1,500 billion Public Sector Development Programme (PSDP). He said that 81 percent of the development budget has been allocated for projects currently under progress.
The minister further claimed that the government has managed to reduce inflation and said the government wants to ensure that the under-discussion International Monetary Fund (IMF) program is the last.
He also said that the government wants to reduce the burden of pensions and cut its expenditures.
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