Prime Minister Shahid Khaqan Abbasi is likely to discuss various aspects of next fiscal year budget including the size of federal development outlay and taxation measures today (Monday), it was learnt. A senior official of Finance Ministry told Business Recorder that Prime Minister will chair a meeting of his economic team Monday to finalise various aspects of next fiscal year budget including the size of federal development outlay and taxation measures.
Advisor to Prime Minister on Finance, Dr Miftah Ismail also told a group of media persons after the federal cabinet meeting on 'Budget Strategy Paper' for the next fiscal year that "there is nothing final yet and a meeting to be presided over by the Prime Minister will finalize various things about the budget". An official said that decision about taxes including super tax is also expected to be taken by the Prime Minister.
There are also differences between ministries of Planning, development and Reforms and finance over the size of development outlay for the next fiscal year with former (Ministry of Planning) proposing it to be at Rs1.2 trillion while latter (Finance) suggested next fiscal year development spending size at Rs 750 billion.
According to an official said that proposed PSDP by Ministry of Planning included Rs800 billion for infrastructure, Rs130 billion for social sector, Rs68 billion for special initiatives, Rs70 billion for special areas (AJK, FATA and GB) and over Rs50 billion new projects.
The Ministry of Planning is said to have proposed allocation of Rs30 billion in next fiscal year PSDP for Prime Minister SDGs Achievement Program and Rs30 billion for Special Federal Development Program.
However, Annual Plan Coordination Committee (APPC) has approved Rs 750 billion PSDP and excluded Prime Minister's Global Sustainable Development Goals (SDGs) and Special Federal Development Program as well as Clean Drinking Water for All and special provision for completion of China-Pakistan Economic Corridor (CPEC) projects from the development budget for the next fiscal year.
Those likely to attend the meeting are advisor to prime minister on finance and revenue and minister for planning, development and reform.
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