Thursday, June 24, 2021

Budget 2021-22 to include ‘no new taxes’ on salaried person, raise in salaries   


ISLAMABAD: The federal budget 2021-22 having a total outlay estimated at Rs8.4 trillion will be presented before the National Assembly on June 11, ARY NEWS reported quoting sources.

According to sources privy to the matter, the total outlay of the federal budget is estimated at Rs8400 billion, with a recommendation of upto 10 to 15 percent increase in salaries of the government employees. “The budget for the pension of the government employees is estimated at Rs470 billion,” they said.

“It has been recommended in the budget that no new taxes should be imposed on salaries person,” they said while sharing the salient features.

The sources said that the development budget-Public Sector Development Programme (PSDP)- is estimated at Rs900 billion besides also earmarking Rs500 billion for government expenditure.

They further shared that an allocation of Rs400 billion is being set aside in the budget for subsidies. “The defence budget is estimated at over Rs1300 billion for the next fiscal year,” they said.

Meanwhile, the federal government is likely to earmark a whopping Rs100 billion for the Kamyab Jawan Programme in the upcoming budget for the fiscal year 2021-22.

Special Assistant to the Prime Minister on Youth Affairs Usman Dar met Finance Minister Shaukat Tarin and discussed with him the possible budgetary allocation for the Kamyab Jawan programme.

Read More: ‘Upcoming budget envisages maximum relief to common man’

Speaking in the meeting, Finance Minister stressed the need for speeding up the process of disbursement of loans to youth under the scheme. The government will increase the limit for loans, he added.

Special Assistant to the Prime Minister on Youth Affairs said the Kamyab Jawan Programme is a key scheme to promote the entrepreneurship culture in the country. “This is the first time that any government has started investing directly on its youth,” he maintained.

“The Kamyab Jawan is not a mere programme but a silent revolution,” the special assistant said.

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