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Federal budget to be announced today

Ishaq Dar

ISLAMABAD: Pakistan Muslim League-Nawaz’s fourth budget in the parliament will be announced by Finance Minister Ishaq Dar on Friday, ARY News reported.

According to details, the total outlay of 2016-17 fiscal year budget will be 4.4 trillion.

Sources said that the federal government has allocated Rs. 1,354 billion for the payment of debts whereas Rs. 860 billion is likely to be spent on defence.

Rs. 169 billion is likely to be allocated for subsidies whereas Rs. 348 billion will be allocated for the payment of services, sources said.

Reports stated that the federal government is likely to increase the salary of government employees by 10 to 12 percent.

It is said that the main focus of the budget is on energy, infrastructure, and human resource sectors of the country. The government has prioritized China-Pakistan Economic Corridor (CPEC) projects in the budget as well, sources said.

The budget session will begin at 05.30 pm at the Parliament House in Islamabad.

Prime Minister Nawaz Sharif had approved budget recommendations for the year 2016-17, during a video link address with the National Economic Council and the federal cabinet on Monday.

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