ISLAMABAD: Budget for fiscal year 2016-17 has been presented by Federal Minister for Finance Ishaq Dar in National Assembly budget session while government employee salaries and pension have been increased by 10%.
While presenting budget for next fiscal year 2016-17, finance minister Ishaq Dar said that those who predicted Pakistan bankruptcy have failed in their predictions while government has not only stabilised economy but also improved economic growth.
Economic indicators are reflection of Pakistan economic growth, Dar said adding that government performance remained better as compared to last fiscal year while Rs. 3104 billion tax receipts target would be achieved by government in current fiscal year.
Announcing to increase government employees salaries by 10%, Ishaq Dar elaborated that 10% adhoc relief allowance would be given to federal employees on running basis from July 1st while federal employees M.Phil allowance has been increased by Rs.2500.
Additional charge and deportation allowance have been increased by 12000 in next fiscal year while federal employees from grade 1 to 15 conveyance allowance has also been increased by 50%.
Rs. 860 billion has been allocated for defense while Pakistan railways would be given Rs. 78 billion, Dar explained stating that Rs. 100 has been reserved for FATA while Higher Education Commission to be given Rs. 12.5 billion.