Pakistan Budget 2024-25 To Be Tabled in Parliament on June 12; Economic Survey Likely to Release Today
The Pakistan government will present the budget for the financial year 2024-25 on June 12.
Islamabad: The budget for the fiscal year 2024-25 will be tabled in Parliament on June 12, the federal government announced on Monday, as per ARY News. The budget will be presented by Senator Muhammad Aurangzeb, federal minister for finance and revenue. “The budget will be aimed at mitigating the people’s sufferings, transforming the agriculture sector, promoting information technology (IT), and boosting exports,” ARY News reported citing government sources.
Additionally, the administration announced that the budget will encompass measures for economic growth and stabilization, revenue mobilization, reduction in non-development spending, job creation, and people-friendly policies aimed at the nation’s socio-economic success.
All of the ministries and departments involved in budget-related activities, such as the introduction of the Economic Survey and budget presentation in Parliament, are working closely together to produce the budget. It is important to note that the budget will be presented at a time when Pakistan is already grappling under a major economic crisis and is seeking to gain a deal of up to USD8 billion from the International Monetary Fund (IMF).
Economic Survey of Pakistan Likely to Release Today
As per news agency ANI report, a day before the budget is released i.e on Tuesday (June 11), “The Economic Survey of Pakistan,” a pre-budget document outlining the status of the nation’s economy, will be presented. Finance Minister Muhammad Aurangzeb will launch the pre-budget document. The document would provide a realistic assessment and a foundation for future planning by highlighting the economy’s overall performance over the previous fiscal year, reported ARY News.
As per the ARY news report, the Economic Survey of Pakistan will include information on the main socio-economic advancements, business performance, and economic trends of the country’s many economic sectors, such as capital markets, health, education, transportation and communication, energy, agriculture, manufacturing and industry, services, and information technology and telecom. The survey will also offer a detailed description of the annual trends of key economic indicators, covering employment, population, trade and payments, public debt, inflation, climate change, and social safeguards.
(With ANI Inputs)
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