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BUDGET

Govt called for the National Assembly session on June 11 to present the budget

The federal government on Friday call for the National Assembly session on June 11 to present the budget for the fiscal year 2021-22.

Adviser to Prime Minister on Parliamentary Affairs Babar Awan and National Assembly Speaker Asad Qaiser held a meeting to decide the schedule of the budget.

The budget will be submitted by Finance Minister Shaukat Tarin after which it will be presented in the Senate for approval.

Govt is confident that the Rs8,000 billion budget would float through the lower house of parliament, Qaiser said, “We will be presenting a people-friendly budget.”

The budget for the pension of the government employees estimated at Rs470 billion. It recommends that no new taxes should impose on the salaried class.”

The budget will increase the size of the economy to Rs52,057 billion. It is expected that the economic growth rate will be 4.8 per cent in the upcoming budget, according to budget documents.

According to sources, the defence budget expected to more than Rs1,400 billion and tax revenue expected to Rs5,820 billion.

“The next national budget is likely to extend the amnesty period for the construction sector. With the consent of the IMF, the term of the construction amnesty scheme may extend. Under the ordinance, the period may extend for three or six months,” according to media reports.

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Budget | Finance Act 2021 | FBR | Federal Board of Revenue | shaukat Tareen | 11th June 2021 |

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