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Pakistan likely to present Rs17tr budget on June 7

05:41 PM | 13 May, 2024
Pakistan likely to present Rs17tr budget on June 7

ISLAMABAD – The federal government is likely to present a budget of Rs17 trillion on June 7.

There is a possibility that the federal budget for the fiscal year 2024-25, totaling more than 17 trillion rupees, will be presented in Parliament on June 7th. Approval will be sought in a special meeting of the federal cabinet scheduled before presenting the budget in Parliament.

The Ministry of Finance has stated that preparations for the federal budget of the upcoming fiscal year are underway, and consultations regarding budgeting are ongoing in light of Pakistan's recent IMF program review mission. 

Discussions with the IMF are ongoing regarding various objectives, including revenue generation, in the upcoming fiscal year's budget. It is estimated that the volume of federal expenditures for the fiscal year 2024-25 is expected to be 17 trillion rupees, with an estimated payment of interest and loans amounting to 9.5 trillion rupees.

An allocation of 800 billion rupees is being made for subsidies in the energy sector, and it is possible that federal tax revenue will exceed 11.2 trillion rupees. A target of 680 billion rupees has been set for Federal Excise Duty, and it is possible to set a target of 3.9 trillion rupees for Sales Tax revenue.

An initial estimate of 2.1 trillion rupees has been set for Non-Tax Revenue in the budget, while it is expected to collect more than 1.05 trillion rupees in Petroleum Levy.

Daily Pakistan Global Web Desk

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Today Open Market Currency Rates in Pakistan - Pakistani Rupee to US Dollar, Euro, Pound, Riyal - 16 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 16, 2024 (Sunday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.5 for buying and 280.65 for selling.

Euro's buying rate stands at 296 and selling rate is 299 while British Pound rate is 349.7 for buying, and 353.25 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.80.

Currency Rates in Pakistan

Currency Symbol Buying Selling
US Dollar USD 277.50 280.65
Euro EUR 296 299
UK Pound Sterling GBP 349.7 353.25
U.A.E Dirham AED 74.8 75.6
Saudi Riyal SAR 72.8 73.55
Australian Dollar AUD 182 184
Bahrain Dinar BHD 741.18 749.18
Canadian Dollar CAD 204 206
China Yuan CNY 38.43 38.83
Danish Krone DKK 40.18 40.58
Hong Kong Dollar HKD 35.66 36.01
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 909.34 909.34
Malaysian Ringgit MYR 59.3 59.9
New Zealand Dollar NZD 170.79 172.79
Norwegians Krone NOK 25.97 26.27
Omani Riyal OMR 723.88 731.88
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203.65 205.65
Swedish Korona SEK 26.4 26.7
Swiss Franc CHF 311.9 314.4
Thai Bhat THB 7.58 7.73

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