ISLAMABAD: According to ARY News on Friday, the Pakistani government is expected to unveil its federal budget on June 7 for the upcoming fiscal year 2024–25, which is expected to include spending Rs 16,700 billion in total.


With one eye on the unstable economic climate and the other on the 24th "longer and larger" rescue programme of the International Monetary Fund (IMF), the government will publish the budget for 2024.

Sources claim that although the initial estimate for subsidies is Rs 1,500 billion, the initial estimate for interest and loan expenses is Rs 9,700 billion.

According to sources, tax income is projected to exceed Rs 11,000 billion, of which Rs 5,300 billion is expected to come from direct taxes and Rs 680 billion from federal excise duties.

According to sources, customs duties are predicted to bring in over Rs 1,100 billion, while sales tax is anticipated to bring in over Rs 3,850 billion.

The petroleum charge is anticipated to produce Rs 1,100 billion of the initial forecast of non-tax revenue, which is Rs 2,100 billion. According to sources, the government budget deficit is anticipated to reach approximately Rs 9,300 billion.

In addition, the government is implementing policies to curb inflation, with the goal of reducing it to 5-7% by September 2025.

Salary increases of between 10% and 12% are anticipated for the next budget; however, the government will make the final choice after considering the Ministry of Finance's suggestions.

According to earlier reports, the Pakistani government would probably remove tax exemptions in the FY2024–2025 budget at the request of the IMF.

Additionally, the government is thinking about taxing the sale of insecticides and tractors, which could result in price increases for these necessary agricultural supplies.