ISLAMABAD – The Finance Minister announced ten percent adhoc reliefallowance to the civil and armed forces employees and ten percent increasein pensions across the board.
House rent ceiling and house rent allowance have also been increased byfifty percent each.
Minimuum pension is being increased from the existing six thousand to tenthousand rupees considering the difficulties of low paid pensioners.
Similarly, family pension would also get increase from 4500 rupees to 7500rupees.
Minimum pension of pensioners above seventy five years of age would befifteen thousand rupees.
The government has also proposed an allocation of twelve billion rupees forprovision of advances to government servants for house building andpurchase of transport facility.
It has also set aside five billion rupees for senior officers’ performanceallowance, details of which would be announced separately.
Over time allowance of staff car drivers and dispatch riders is beingincreased from forty rupee per hour to eighty rupee per hour.
The finance minister said the financial impact of these proposals will besixty nine billion rupees.
Federal budget for the next fiscal year with an outlay of 5246 billionrupees has been announced.
Minister for Finance Miftah Ismail presented budgetary proposals at theNational Assembly today (Friday).
The federal gross revenue receipts are estimated at 5661 billion rupees ascompared to 4992 billion rupees in the outgoing year.
This includes FBR’s tax estimates of 4435 billion rupees as against revisedestimates of 3935 billion rupees for the current financial year.
Out of the total revenues, the provincial governments’ share is estimatedto 2590 billion rupees as compared to 2316 billion rupees revised estimatesfor the current financial year.
After transfer to the provincial governments, the net revenue of thefederal government is estimated at 3070 billion rupees for the next year ascompared to revised estimates of 2676 billion rupees in the currentfinancial year.
The interest payments for next year have been budgeted at 1620 billionrupees against the revised target of 1526 billion rupees for the outgoingyear.
The defense budget is proposed at 1100 billion rupees against the revisedbudget of 999 billion rupees in the outgoing year.
Budget deficit will be four point nine percent of the GDP as opposed tofive point five percent of GDP of revised budget estimates in the outgoingyear.