Govt likely to allocate Rs3.1tn for interest payments, Rs1.35tn for defence in upcoming budget

[hydrabadi_arab]

ISLAMABAD: The federal government has decided to allocate Rs3.1 trillion for interest-related payments in the upcoming budget.

According to sources, the government had allocated Rs2.85 trillion in interest payments during the outgoing fiscal year. Sources said that the government is mulling to allocate another Rs1.35 trillion in defence budget which was Rs1.27 trillion during the outgoing year.

In addition, the government is also likely to allocate Rs500 billion for running the affairs of civil government. The government had allocated Rs485 billion during the current year under the same head.

Sources further disclosed that the government is also likely to allocate Rs1.1 trillion under the head of grants.

Moreover, the tax department has proposed that the government allocates Rs5.82 trillion as tax revenue target and around Rs2.09 trillion as non-tax revenue target for the next fiscal year.

According to sources, it has also been decided that the government will allocate Rs660 billion as subsidies in the next fiscal year which was around Rs200 billion more than the outgoing year.

Govt likely to allocate Rs3.1tn for interest payments, Rs1.35tn for defence in upcoming budget

ISLAMABAD: The federal government has decided to allocate Rs3.1 trillion for interest-related payments in the upcoming budget. According to sources, the government had allocated Rs2.85 trillion i

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[hydrabadi_arab]

Increase of 9% in debt serving is all right as long as FBR can increase tax collection by 20%. Even then its more then 50% of tax collection. Need to bring it down to 40% by 2023. I think PTI will leave Pakistan in great position if

1. FBR collect Rs7 trillion.
3. Exports $32b and remmitances $35b
4. Imports not more then $65b
5. GDP growth 6%
6. reserves $30b

Say good bye to IMF. Will prove to be best government in last 40 years by all metrics but one, reforms so that next guy in line Bilawal or Maryam doesnt f up all again. Especially PPP love to destroy economy by wasting money on public entities. PTI need to do something about public companies by 2023.

 

[Syed1.]

Increase of 9% in debt serving is all right as long as FBR can increase tax collection by 20%. Even then its more then 50% of tax collection. Need to bring it down to 40% by 2023. I think PTI will leave Pakistan in great position if

1. FBR collect Rs7 trillion.
3. Exports $32b and remmitances $35b
4. Imports not more then $65b
5. GDP growth 6%
6. reserves $30b

Say good bye to IMF. Will prove to be best government in last 40 years by all metrics but one, reforms so that next guy in line Bilawal or Maryam doesnt f up all again. Especially PPP love to destroy economy by wasting money on public entities. PTI need to do something about public companies by 2023.

PTI are getting 2/3 majority in 2023.

 

[Chakar The Great]

Seven trillion tax collection is very ambitious.

 

[Respect4Respect01]

PTI are getting 2/3 majority in 2023.

we all wish that, but realistically speaking that is not going to happen, Inflation and media are Imran Khan's biggest enemies.

 

[Syed1.]

Seven trillion tax collection is very ambitious.

Next year (FY22) is 5,800b.

If they manage to go from 4,700 -> 5,800 in one year then I wouldn't bet against them in achieving around 7,000b specially since finance minister has categorically said he wants 20% increase in revenues every year.

 

[Chakar The Great]

Next year (FY22) is 5,800b.

If they manage to go from 4,700 -> 5,800 in one year then I wouldn't bet against them in achieving around 7,000b.

This year is 4600b right?

You mean 7Trillion by 2023?

 

[Syed1.]

This year is 4600b right?

You mean 7Trillion by 2023?

This year (FY21) target is 4,700b and they are well on their way to achieve it. If they manage to achieve 5,800b in FY22 then target for FY23 might be around 7,000b.

 

[Chakar The Great]

This year (FY21) target is 4,700b and they are well on their way to achieve it. If they manage to achieve 5,800b in FY22 then target for FY23 might be around 7,000b.

Well if the tourism industry opens up the doors, we should certainly be able to achieve next year target.

 

[Syed1.]

we all wish that, but realistically speaking that is not going to happen, Inflation and media are Imran Khan's biggest enemies.

There has been a recent uptick in ratings of the government based on the economic numbers (our awaam only cares about GDP growth) that is why you see PML-N scrambling and urgently trying to play down PTI numbers you may have noticed they have activated their paid trolls such as @muhammadhafeezmalik and @AsianLion on this very forum as well as other forums to hype up fake PML-N numbers and play down the achievement of PTI government.


PTI still has 2 years to go, if they managed to get this much panic out of PML-N just on the basis of 4% growth then what will happen when they are all set to achieve 5% in FY22 and 6%in FY23?

On top of that health insurance is being rolled out in all of Punjab. This will also puncture PML-N votebank.

 

[Indos]

Well if the tourism industry opens up the doors, we should certainly be able to achieve next year target.

Tourism will likely face difficulty until 2024 as people will still get trauma from Covid, but of course the open up of international flight route that I would see could happen in middle of 2022 will ease the damage happening in tourism industry but it will not be sufficient enough to be important sector to boost the economy.

It will also be related to how fast Pak gov do their vaccination program and the tourist industry even is still suffering from lack of domestic demand as procedure taken for domestic tourist is still tight, at least it is what is still happening in Indonesia.

 

[Asian.Century]

There has been a recent uptick in ratings of the government based on the economic numbers (our awaam only cares about GDP growth) that is why you see PML-N scrambling and urgently trying to play down PTI numbers you may have noticed they have activated their paid trolls such as @muhammadhafeezmalik and @AsianLion on this very forum as well as other forums to hype up fake PML-N numbers and play down the achievement of PTI government.


PTI still has 2 years to go, if they managed to get this much panic out of PML-N just on the basis of 4% growth then what will happen when they are all set to achieve 5% in FY22 and 6%in FY23?

On top of that health insurance is being rolled out in all of Punjab. This will also puncture PML-N votebank.

PTI has lost Punjab dude for sure in next election, the damage PTI under Imran Khan and Usman Khan Buzdar Punjab government done in Lahore and overall Punjab which was the richest province in Pakistan is unbearable. Look at Lahore now going down. The big fluke of PTI has been already called out and it will soon be over for PTI in Punjab for sure. With no real development and works in Punjab other than announcements, Punjabis are not stupid like you, highly educated and intelligent, that the puncture is already done by PTI itself which got power in Punjab but ruined it under Usman Khan Buzdar sadly.

 

[Syed1.]

PTI has lost Punjab dude for sure in next election, the damage PTI under Imran Khan and Usman Khan Buzdar Punjab government done in Lahore and overall Punjab which was the richest province in Pakistan is unbearable. Look at Lahore now going down. The big fluke of PTI has been already called out and it will soon be over for PTI in Punjab for sure. With no real development and works in Punjab other than announcements, Punjabis are not stupid like you, highly educated and intelligent, that the puncture is already done by PTI itself which got power in Punjab but ruined it under Usman Khan Buzdar sadly.

Yeah Punjabi are not stupid as you suggest thats why they will go back and vote for those who raped the country. haha ok sahi hogaya


Also its funny how you are lumping together Lahore with all of Punjab. Lahoris worship Sharif pigs and they will continue to do so. Meanwhile South and North Punjab have moved on, only Central Punjab supports noonys.

 

[Respect4Respect01]

There has been a recent uptick in ratings of the government based on the economic numbers (our awaam only cares about GDP growth) that is why you see PML-N scrambling and urgently trying to play down PTI numbers you may have noticed they have activated their paid trolls such as @muhammadhafeezmalik and @AsianLion on this very forum as well as other forums to hype up fake PML-N numbers and play down the achievement of PTI government.


PTI still has 2 years to go, if they managed to get this much panic out of PML-N just on the basis of 4% growth then what will happen when they are all set to achieve 5% in FY22 and 6%in FY23?

On top of that health insurance is being rolled out in all of Punjab. This will also puncture PML-N votebank.

Bro, i belong to a village and as you know 60 percent of our population lives in rural areas, and most of them don't know or care about GDP. I have talked to many people and they all have similar demands like getting inflation under control (this is the biggest issue) and then police reforms, people are terrified of our thana culture. Expensive electricity is killing people even though its not current government's fault but ruling party always get blamed for that.
Noon league goons can play with numbers all they want but trust me that does not have any impact on common people. Noonies like to flaunt fake figures because they have nothing else to show. If PTI can reduce inflation, reform police system and offer cheaper electricity IMO nobody can beat them in next election.

 

[Big_bud]

Increase of 9% in debt serving is all right as long as FBR can increase tax collection by 20%. Even then its more then 50% of tax collection. Need to bring it down to 40% by 2023. I think PTI will leave Pakistan in great position if

1. FBR collect Rs7 trillion.
3. Exports $32b and remmitances $35b
4. Imports not more then $65b
5. GDP growth 6%
6. reserves $30b

Say good bye to IMF. Will prove to be best government in last 40 years by all metrics but one, reforms so that next guy in line Bilawal or Maryam doesnt f up all again. Especially PPP love to destroy economy by wasting money on public entities. PTI need to do something about public companies by 2023.

Pakistan is gone if PPP or PMLN ever comes into power again. They all know 1 thing. Heavy borrowing. They both will go straight to IMF and borrow money unconditionally accepting all demands. They will again spend money on mega corruption projects. Will sustain a borrowing lead artificial growth, none of their projects would pay back (just like metros). All they can think about is looting and spending all money that they can to please and appease politicians, judiciary, bureaucrats, police etc. so that in next election they can win easily.

Right now we need an incorruptible person in power for next few decades. Someone who can bring reforms and the reforms can be long running. Pakistan would require 10-15 years of peace, stability and continuity of policy. If anyone of those clown come back in. We are screwed again. And I think middle class would loose all hope. Every one would just prefer to migrate and move out. People like Sania Nishter and any good brain the Imran Khan tried to attract would leave and never look back again.