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.

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  • 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.


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