PM House budget reached to Rs 1.2 billion

ISLAMABAD: The Prime Minister (PM) House budget has reached Rs 1.2 billion with a Rs 260 million hike from the budget allocated in the previous fiscal year, ARY News reported.

As per details, the budget allocated for the Prime Minister’s house for the next fiscal year is more than Rs 1.26 billion whereas the PM house budget was Rs 993 million in the previous fiscal year.

The expenses of PM house exceeded by Rs 10 million from the budget allocated. The PM house will spend Rs 480 million till the end of this year. Rs 100 crore hiked in the public expenses of PM house. The total budget allocated for the public expenses of the PM House is Rs 630 million. 

It is pertinent to mention here that Federal Minister for Finance and Revenue Senator Ishaq Dar presented the federal budget for Fiscal Year 2023-24 with a total outlay of Rs14.5 trillion.

Read More: Ishaq Dar unveils federal budget for FY 2023-24 with a total outlay of 14.5tr

Giving details of the federal budget 2023-24, the finance minister for the next year, GDP growth had been budgeted at 3.5 per cent, terming it a “modest target”.

Ishaq Dar said that this budget is “not an election budget” and is focusing on the “elements of the real economy”.

The total expenses estimate, Dar said was set at Rs 14.46 trillion out of which, Rs7.3 trillion would be spent on interest payments. He said the budget deficit was expected to remain 6.54pc and the primary balance would be a surplus of 0.4pc to GDP.

The tax collection of the Federal Board of Revenue (FBR) for the FY 2024 has been targeted at Rs9.2 trillion out of which the provincial share would be Rs5.276 trillion.