Federal budget 2016-17 to be presented in Parliament today

12:36 AM | 3 Jun, 2016
Federal budget 2016-17 to be presented in Parliament today
ISLAMABAD (Staff Report) – Finance Minister Senator Muhammad Ishaq Dar will present an outlay of Rs 4.8 trillion budget for the next Fiscal Year (i.e. FY 2016/17) in today's budget session in Parliament.

Related: LIVE: Finance Minister unveils Federal Budget 2016-2017

According to reports, the main focus of the budget is on the development of energy, infrastructure, and human resource sectors. The China-Pakistan Economic Corridor (CPEC) projects have also been prioritized in the budget.

Related: Dar chairs meeting to review FBR budget proposals

Allocations to provide a social safety net to the most vulnerable segments of society are also likely to be enhanced.

The National Economic Council (NEC), chaired by Prime Minister Muhammad Nawaz Sharif via video link from London, approved a Rs. 1.675 trillion development outlay including Rs. 800 billion for the federal Public Sector Development Programme (PSDP) and Rs. 875 billion as the provincial Annual Development Programme (ADP).

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The Government has also set aside Rs. 1,675 billion in the forthcoming budget for development schemes under the Public Sector Development Programme (PSDP) for the year 2016-17.

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Read more: Economic Survey 2015-16: Fiscal deficit reduced to 3.4 % of GDP, says Dar