Here Are the Salient Features of Budget 2024-25

The federal government has announced the budget for the fiscal year 2024-25.

Finance Minister Muhammad Aurangzeb presented the Federal Budget in the Parliament House today for the fiscal year 2024-25. The total federal budget outlay is Rs 18.9 trillion.

  • Budget outlay set at Rs. 18.88 trillion
  • FBR tax collection target set at Rs. 12.97 trillion for FY25, +38% YoY
  • Non-tax revenue set at Rs. 4,845 trillion for FY25
  • Funds for Public Sector Development Program (PSDP) Rs. 1,500 billion for FY25
  • Government employees’ pension set at Rs. 1,014 billion for FY25
  • Subsidies budgeted to clock in at Rs. 1.363 trillion FY25
  • Total grants to clock in at Rs. 1.777 trillion in FY25
  • Budget deficit as percentage of GDP budgeted at 6.9 percent for FY25
  • Non-Bank borrowing (NSSs and Others – Public Account set at Rs. 2.662 trillion
  • Net External financing set at Rs. 666 billion
  • Bank borrowing (T-Bills, PIBs, Sukuk) – Fed. Consolidated fund: Rs. 5.142 trillion
  • Privatization proceeds set at Rs. 30 billion
  • Current expenditure set at Rs. 17.2 trillion
  • Interest payments proposed at Rs. 9.775 trillion
  • Pension payouts: Rs. 1.014 trillion
  • Defence Affairs & Services expenses set at Rs. 2.122 trillion
  • Grants and Transfers to Provinces & Others will be Rs. 1.777 trillion
  • Subsidies: Rs. 1.363 trillion
  • Expenditure for running of Civil Govt.: Rs. 839 billion
  • Provision for emergency and others: Rs. 313 billion
  • Primary surplus budgeted to be 1 percent of GDP in FY25
  • Federal Excise Duty on the cement sector increased by Rs. 1,000/ton for FY25
  • Federal Revenue set at Rs. 10.377 trillion
  • Total federal expenditure set at Rs. 18.87 trillion
  • Capital Gains tax on securities would be 15 percent on filers irrespective of the holding period and 45 percent on non-filers.
  • Exporters will now fall under the normal tax regime
  • PDL maximum limit increased from Rs. 60 per liter to Rs. 80 per liter
  • New sales withholding tax on copper, coal, paper and plastic scrap
  • General Sales Tax (GST) increased on textile and leather products sold by Tier-1 retailers from 15% to 18%
  • Withdrawal of exemptions given to Ex-FATA/PATA
  • Withdrawal of tax exemptions on imported hybrid cars
  • An increase in the minimum wage from Rs. 32,000 to Rs. 36,000
  • 5 percent FED on new plots and residential and commercial properties
  • 15 percent tax rate on individuals who invest through mutual funds
  • Sales tax on computers and laptops doubled from 5% to 10%
  • Minimum value for sales tax on certain imported items, which is expected to address the issue of under-declaration by importers
  • Sales tax on smartphone imports as well as IMEI registration is now 25 percent ad valorem (for smartphones valued above $500)
  • Hiring freeze on new hirings for Basic Pay Scale (BPS) 1 to 16 positions

For live updates on everything about the Federal Budget, visit this link.

Follow ProPakistani on Google News & scroll through your favourite content faster!

Support independent journalism

If you want to join us in our mission to share independent, global journalism to the world, we’d love to have you on our side. If you can, please support us on a monthly basis. It takes less than a minute to set up, and you can rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.

  • 2.1 trillion rupees for Armed forces + 662 billion Rupees for military pensions?.. in dollar terms this is equivalent to 9 billion dollars.
    A poor nation like ours is begging for IMF loans and we are spending more than 9 billion US dollars on Army?. This is unacceptable in my view.

  • Get Alerts

    Follow ProPakistani to get latest news and updates.

    ProPakistani Community

    Join the groups below to get latest news and updates.