In his speech to the National Assembly on Tuesday to wrap up the federal budget for the FY25 debate, Finance Minister Senator Muhammad Aurangzeb announced an honorarium equal to three months’ salary for National Assembly staff members.According to the finance minister, the government’s goal to implement reforms and lift the nation out of its current economic predicament is the foundation of the budget.
The minister emphasized once more how committed the administration is to raising the tax to GDP ratio to 13%. He also underlined the government’s intention to restructure the energy sector and state-owned companies (SOEs).Aurangzeb said that the government has set aside Rs. 350 billion in the Rs. 1,500 billion Public Sector Development Programme (PSDP). He said that 81 percent of the development budget has been allocated for projects currently under progress.
The minister further claimed that the government has managed to reduce inflation and said the government wants to ensure that the under-discussion International Monetary Fund (IMF) program is the last.He also said that the government wants to reduce the burden of pensions and cut its expenditures.
