Finance Ministry Presents Rs18 Trillion Budget Proposal to PM Shehbaz Sharif

The finance ministry has put forth a comprehensive plan for the upcoming budget to Prime Minister Shehbaz Sharif, aligning with the directives from the International Monetary Fund. The proposed budget, totaling nearly Rs18 trillion, represents a substantial increase of one-fourth compared to the current fiscal year. This notable surge is primarily attributed to the historic allocation of Rs9.7 trillion earmarked for interest payments.

Prime Minister Shehbaz Sharif, following the presentation, has urged for a further enhancement in the proposed budget for the Federal Board of Revenue (FBR), with a target set at Rs12.4 trillion for tax collection. This strategic move underscores a strong focus on revenue generation and fiscal discipline in the upcoming financial year.

The finance ministry's proposal for the Rs18 trillion budget reflects a significant shift in fiscal priorities, with a substantial increase in allocations compared to the previous year. The emphasis on interest payments highlights the government's commitment to meeting financial obligations and managing debt effectively. Additionally, the push for a higher tax collection target underscores the importance of bolstering revenue streams to support economic growth and sustainability.

The presentation of the budget plan to Prime Minister Shehbaz Sharif signals a proactive approach towards addressing economic challenges and ensuring financial stability. With a focus on revenue generation and fiscal discipline, the proposed budget aims to lay a strong foundation for sustainable economic development in the coming year.