ISLAMABAD: The Pakistan Tehreek-e-Insaf government is all set to present its tax-laden deficit budget for the fiscal year 2019-20 on Tuesday (today) as almost all economic indicators have missed their targets set in the outgoing fiscal.
The budget for the year 2019-20 is unlikely to boost economic growth, however, it will focus to curtail both fiscal and current account deficits. The government has missed the target of economic growth– which has slowed down to an all-time low of 3.3 per cent in nine years against the target of 6.2 per cent.
The government has estimated the total volume of the budget at around Rs6,800 billion with a net deficit of whopping Rs3,000 billion.
According to the text of the budget document exclusively available with Hum News, the government has proposed Rs925 billion for the Public Sector Development Programme (PSDP). For the PSDP, Rs798 billion will be pooled from internal resources and Rs126 billion from external resources.
Similarly, the government has proposed to allocate Rs372 billion development budget for federal ministries. The government has proposed Rs85 billion for the Ministry of Water Resources; Rs16 billion for Railway Division and Rs36.82 billion for Finance Division.
Likewise, the government has proposed Rs29 billion for the Higher Education Commission against the allocated budget of Rs35 billion in the outgoing fiscal year. The government has proposed to allocate Rs44.70 billion for Kashmir and Gilgit-Baltistan division in the next fiscal year.
The government has allocated Rs13.37 billion for the Ministry of National Health Services, Regulations and Coordination Division against the allocated budget of Rs30.734 billion in the outgoing fiscal year.
The government has set aside Rs12 billion for the Ministry of National Food Security and Research; Rs7.96 billion for the Planning Commission and Rs450 million for the Defence Division.
The government has proposed to set aside Rs156 billion for the National Highway Authority while Rs41.89 billion for the Ministry of Energy and Power Division.
The government has allocated Rs32 billion for the rehabilitation of internally displaced persons while Rs32.6 billion for internal security.
Similarly, the government has allocated Rs10 billion for the Prime Minister’s Youth Programme; Rs22 billion for tribal districts and Rs2 billion for Pakistan Clean and Green Programme.