ISLAMABAD: A special meeting of the federal cabinet on Friday approved the proposed federal budget for the fiscal year 2022-23, ARY News reported.
The special cabinet meeting headed by PM Shehbaz Sharif and attended by federal ministers, advisers, special assistants approved the Finance Bill 2022-23.
Taking to Twitter, Information Minister Mariyum Aurangzeb announced that the federal cabinet has approved a 15 per cent increase in the salaries of government employees and a 5 per cent hike in pensions.
“The govt also approved merging of adhoc allowances into the basic pay,” she further announced.
The Prime Minister has rejected the Finance Ministry’s proposal of a 10% increase and has approved an increase in government employees’ salaries of 15% with the consent of the cabinet. Alsomerging of adhoc allowances into the basic pay is approved #Budget_for_economic_stability
— Marriyum Aurangzeb (@Marriyum_A) June 10, 2022
The coalition government is all set to present the Budget for the next fiscal year 2022-23 in the National Assembly (NA) today (Friday)
According to details, Minister for Finance and Revenue. Miftah Ismail will present the budget in the National Assembly at 4:00 pm, with an outlay of over Rs9.5 trillion.
The budget has been formulated while considering the existing challenges being faced by economy on domestic and international fronts. Miftah Ismail will also present Supplementary Grants 2021-22 and Finance Bill 2022.
Keeping in view the robust growth of revenues during the current fiscal year (2021-22), the government is likely to set the revenue collection target at over Rs.7 trillion for the fiscal year 20222-23.
The coalition government has decided to allocate Rs800 billion for the Public Sector Development Programme (PSDP) in the next fiscal year, said sources.
BUDGET 2022-23 TO BE PRESENTED TODAY
A development budget worth Rs800 billion has been proposed for the next financial year, out of which Rs538 billion will be allocated for federal ministries and departments.
Meanwhile, the government has decided to allocate Rs 25 billion for Atomic Energy Commission, while Rs41.87 billion will be allocated to Higher Education Commission (HEC) and Rs2.5 billion for Aviation.
Rs84 billion has been proposed for energy sector, Rs83bn for water schemes while Rs39 billion will be given to Housing Ministry and Planning.
Moreover, the Ministry of Climate Change will be given Rs9.5 billion. It has been proposed to allocate Rs10.47 billion for the Ministry of Home Affairs, Rs 12 billion for the Ministry of Health, Rs 12 billion for the Ministry of Food Security and Rs3.1 billion for Maritime Affairs
