10/06/2023
Federal Budget FY 2023-2024
The Federal Government Presented a Budget of Rs 14.4 trillion in the National Assembly.
The budget was presented by Finance Minister Ishaq Dar, announcing that no new tax has been imposed in FY 2023-24.
Salient Features of Budget 2023-2024
Annual Development Program is fixed at Rs1,150 billion.
Rs950 billion have been earmarked for the Public Sector Development Program.
Rs170 billion have been allocated for special initiatives of the prime minister and development schemes of the lawmakers.
Rs80 billion will be spent on nine special projects of the prime minister.
Rs30 billion have been allocated for a program to convert agricultural tubewells to solar power.
Rs10 billion have also been set aside for the Prime Minister’s Laptop Scheme.
The Dasu Hydropower Project has been allocated the maximum of Rs58.59 billion. According to the documents, Rs232 billion have so far been spent on the mega project worth Rs511 billion.
Rs17 billion have been allocated for the Karachi Greater Water Supply Scheme.
Rs17.63 billion will be spent on the purchase of 820 railway freight wagons and 230 passenger bogies.
Rs14.86 billion have been allocated for the Karachi Coastal Power Project.
Rs26 billion have been set aside for the merged districts of Khyber Pakhtunkhwa. For the 10-year development plan of the former tribal areas, Rs31 billion are likely to be spent.
An allocation of Rs10.5 billion has been made for the Mohmand Dam Hydropower Project.
For the Jamshoro Coal Power Project, Rs12 billion have been earmarked.
Rs16 billion will be spent on the Pakistan-Tajikistan transmission line.
For the rehabilitation of flood-affected areas, Rs6 billion have been earmarked.
Rs5.70 billion have been allocated for the Hyderabad-Sukkur Motorway project; Rs5 billion for the New Gwadar International Airport, while the project will cost Rs51 billion in all.
Rs5 billion have been allocated for the Lahore-Sialkot Motorway from Narang Mandi to Narowal.
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