ISLAMABAD- Federal Budget for the fiscal year 2018-19 of Rs 5.5 trillionwill be presented in the parliament today (Friday), with a likely increaseof salary and pension of government employees by 15 percent.

Advisor to Prime Minister on Finance Miftah Ismail will present the budgetwhere tax revenue target would be around Rs 4.5 trillion.

As per details, defense budget size would be proposed to nearly Rs 1.050trillion, whereas, an amount of Rs 1.550 trillion is likely to be allocatedto service debt and principal payment.

The government is expected to propose an increase of 10 to 15 percent inpension and salaries. Besides this Rs 220 billion will be earmarked forsubsidies. Subsidies would be given to power, textile, water, forconstruction of small dams, ramzan package and wheat to be provided toGilgilt and Baltistan.

For the development projects, the federal and provincial governments areexpected to spend Rs 1010 billion and Rs 1030 billion respectively.

Moreover, the government is likely to give nearly Rs 2565 billion toprovinces which will be consumed for social safety, reduction in poverty,health and education sectors.