ISLAMABAD: A specific assembly of the federal cabinet on Friday authorized the proposed federal price range for fiscal 12 months 2022-23, ARY Information reported.
A special cabinet meeting chaired by PM Shehbaz Sharif and attended by federal ministers, advisers, special assistants authorized the Financial Invoice 2022-23.
On Twitter, Info Minister Mariyum Aurangzeb announced that the federal cabinet has authorized a 15 percent increase in the salaries of presidential staff and a 5 percent pension increase.
“The government also gives the authority to combine adhoc allowances into the basic salary,” he added.
The Prime Minister has rejected the Finance Ministry’s proposal of a ten% increase and has authorized a 15% increase in staff salaries authority with the consent of the cabinet. The merging of adhoc allowances into essential salaries is legal #Budget_for_economic_stability
– Marriyum Aurangzeb (@Marriyum_A) June 10, 2022
Coalition officials are ready to present the Treasury for the next 12 months of fiscal 2022-23 at the Nationwide (NA) Meeting today (Friday)
In accordance with the details, the Minister of Finance and Revenue. Miftah Ismail will hold the price range at the Nationwide Meeting at 4:00 pm, at a cost of more than Rs9.5 trillion.
The price range has been formulated when considering the challenges posed by economic systems at home and around the world. Miftah Ismail may present Additional Grants 2021-22 and Financial Invoices 2022.
Protecting in view of the strong development of revenues throughout the current fiscal 12 months (2021-22), the federal government tends to set its income diversification goal at over Rs.7 trillion for the fiscal 12 months 20222-23.
The coalition authorities have decided to allocate Rs800 billion for the Public Sector Improvement Program (PSDP) over the next 12 fiscal months, the source said.
BUDGET 2022-23 PRESENTED EARLY
An improvement price value of Rs800 billion has been proposed for the next 12 monetary months, of which Rs538 billion could be provided to federal ministries and departments.
In the meantime, the federal government has decided to allocate Rs 25 billion for Atom Power Fee, while Rs41.87 billion can be allocated for Greater Schooling Fee (HEC) and Rs2.5 billion for Aviation.
Rs84 billion has been proposed for the power sector, Rs83bn for water schemes, while Rs39 billion can be provided to the Ministry of Housing and Planning.
Furthermore, the Ministry of Local Climate Change may be given Rs9.5 billion. It has been proposed to provide Rs10.47 billion for the Ministry of Housing, Rs 12 billion for the Ministry of Welfare, Rs 12 billion for the Ministry of Food Security and Rs3.1 billion for Maritime Affairs