The Federal Minister for Finance Miftah Ismail delivered the Federal Budget 2018-19 Speech in the Special Session of the National Assembly chaired by the Speaker Sardar Ayaz Sadiq on Friday evening.
To Download Full Federal Budget 2018-19 Speech (PDF); Click Below Link;
Federal budget 2018-19 Key Points:
- Total layout of fiscal budget year 2018-19 is Rs 5.5 trillion
- Target for budget deficit set at 4.9%
- FBR collected an amount of Rs 3935 billion as tax revenue
- Private sector debt increased by 383%
- Foreign remittances to reach 20$ billion by end of this year
- Foreign investment stood at 2.7$ billion in 2017
- Growth rate stood at 5.4%
- Growth rate of agriculture remained 3.8%
- Industries witnessed 5.8% increase
- Inflation rate brought under 5%
- Payments on interest stands at Rs 1620 billion
- Total federal revenue is Rs 5661 billion
- Federal expenditure set at Rs 15246 billion
- Family pension increased from Rs 4500 to Rs 7500
- Minimum pension of persons above 75 years increased to Rs 15000
- 10% ad-hoc relief announced for civil and military servants
- Rs 12 billion allocated for government servants to purchase vehicles, house and motor bikes
- Rs 800 billion allocated for agriculture loans
- Rs 1100 billion allocated for defense
- Mark up on long term finance facility brought down from 11.4% to 5.6%
- Exports increased by 13%
- Imports increased by 17%
- Foreign direct investment increased to Rs 2.7$ billion in FY 2017 from 1.3$ billion in 2013
- Current foreign exchange reserves with State Bank of Pakistan stand at 11$ billion
- Rs 10 billion allocated for youth loan scheme
- GDP to grow at rate of 6.2%
- Inflation to remain below 6%
- Budget deficit to remain at 4.9% of GDP
- Net public debt to be 63.2% of GDP
- Rs 18 billion proposed for Power sector
- Rs 23.7 proposed billion for dams
- Overall investment in water sector being increased from Rs 36.7 billion to Rs 79 billion
- Rs 310 billion proposed for National Highways
- Rs 39 billion proposed for Railways
- Rs 137 billion proposed for 31 development projects in Gwadar
- Rs 300 million allocated for Human rights in PSDP 2018-19
- Rs 57 billion proposed for HEC.
- 10 percent increase proposed for pensioners.
- 50% increase proposed in House rent ceiling.
- Minimum pension increased from Rs 6,000 to Rs 10,000
- Export package of Rs 180 billion to be introduced for export promotion
- Prize scheme to be introduced for overseas Pakistanis making transactions through commercial banks, exchange companies, financial institutions
- Value of production index unit to be increased to Rs 6000
- Fiscal package announced to revive Pakistan film industry
