What will be cheaper and what will be more expensive? The federal budget for fiscal year 2022-23 will be presented today.
Federal Government New Fiscal Year 23. The federal budget for 2022 will be presented in the National Assembly on Friday in the context of the national and international scenario in which finance ministerial stability, deficit reduction, increase in exports and import substitution of local products, ease of trade and investment and The focus is on the promotion of agriculture.
Federal Finance Minister Muftah Ismail will present a budget of about Rs 9,500 billion in the National Assembly today at 4 pm.
According to sources, several schemes for Balochistan and youth are being launched in the PSDP of the new financial year. Apart from the schemes of Higher Education Commission, laptops will be provided to talented students under the Prime Minister’s Merit Based Laptop Scheme.
In addition, another scheme is being introduced under which students of higher education institutions will be able to buy laptops in easy installments while 250 vocational training institutes will be set up in collaboration with the provinces while the partners of the provinces. 250 mini sports stadiums will also be built.
Fiscal Year 23 The budget of 2022 will ensure allocation of resources and funds for completion of various projects on fast track basis under China-Pakistan Economic Corridor. Are
Balochistan is the main target of the development budget. More development funds are being given to Balochistan than other provinces so that the ongoing projects can be completed and new projects can be started. It is proposed to allocate Rs. 50 billion for development projects in the former integrated districts of FATA.
According to sources, preparations for the federal budget for the new financial year have been completed by the Federal Ministry of Finance and other concerned ministries and divisions and it is being finalized.
The federal budget for the new fiscal year is designed to address the global economic crisis caused by the global epidemic of Code 19 and the Russia-Ukraine conflict, as well as the financial challenges facing the country.
The budget places special importance on alleviating the hardships of the people, developing the agricultural sector and modernizing it, increasing the exports of information technology and this sector, providing the best and conducive environment for industrial development and business and investment. Will be given Strengthening financial management, the budget focuses on economic stability and growth, reduction of non-development expenditure, increase in employment opportunities, pro-people policies and social and economic development of the country.
In addition, the new budget will encourage the development of the social sector, advancement of reform programs in various sectors and encourage governance and private investment. It will also focus on increasing the provision of facilities and measures will be introduced in this regard.
In the light of Prime Minister Shahbaz Sharif’s vision in the new budget, basic needs of development such as development of water resources will be given priority in PSDP. Higher education sector is also a priority part of PSDP. Funds and scholarships for youth will be increased, construction of physical infrastructure such as roads, highways and ports is our third top priority, significant and key investments in these areas will be ensured.