The federal government will present the budget for fiscal year 2024-25 on June 12 (Wednesday), said state-run news agency. As per details, Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb will present the budget formulated keeping in view the challenges faced by economy at domestic and international fronts. According to the government sources, the budget will be aimed at mitigating the peopleís sufferings, transforming the agriculture sector, promoting information technology (IT), and boosting exports. In addition to fiscal management, revenue mobilisation, measures for economic stabilization and growth, the government has also claimed of reduction in non-development expenditures, job creation and people-friendly policies for the socioeconomic prosperity of the country in the budget. The preparations for the announcement of the federal budget for fiscal year 2024-25 continued in full swing in accordance with the prescribed timelines.

The budget is being prepared in close coordination among all the departments and ministries involved in the budget-related events, including the presentation of the budget in the Parliament and launching of the Economic Survey. It is pertinent to mention here that the budget is being presented when Pakistan is deliberating with the International Monetary Fund (IMF) for a package of up to $8 billion. Meanwhile, ëThe Economic Survey of Pakistaníó a pre-budget document presenting the state of the countryís economyó will be presented on Tuesday, a day before the budget presentation. The survey would highlight the overall performance of economy during the outgoing fiscal year, providing a realistic feedback and basis for future planning. Finance Minister Muhammad Aurangzeb will launch the pre-budget document in the National Assembly, according to a statement issued by the finance ministry.

The survey comes ahead of the federal budget 2024-25, slated to be presented on June 12 (Wednesday). Pakistanís Economic Survey will provide details about the major socio-economic developments, performance, and economic trends of various sectors of the economy, including agriculture, manufacturing & industry, services, energy, information technology & telecom, capital markets, health, education, transport and communication etc. Annual trends of major economic indicators regarding inflation, trade and payments, public debt, population, employment, climate change, and social protections will also be described in detail in the survey.

Credit: Independent News Pakistan