Pakistan Federal Budget 2022-23

The budget for the fiscal year 2022-23 is around the corner and the new Finance Minister is expected to carry regarding new changes and make a new announcement. Even the budget process itself is slow down the economy and Since our budget process is linked through the IMF Program, therefore the Fund Program wants to be re-thought and we have to engage through the IMF on various things.

Pakistan Federal Budget 2022-2023

This would make sure $2 billion from the IMF program and project lend in the pipeline from other mutual institutions. The Finance Minister has to do incredible on the expenditure side and Money should not only be on the loose rather it must be spent somewhere, which require capacity building.

Suggestions for allocation to different sectors

  • 7600 Billion Allocated for Budget 2022 to 2023 Pakistan
  • Proposal to allocate Rs. 1 billion for WAPDA
  • 25 Billion Subsidies for K Electric
  • 03 Billion for Utility Stores
  • 07 Billion For PESCO
  • 49 Billion For all subsidies
  • 69 Billion for Water Resources
  • 12 Trillion 89 Billion for Defense
  • 10 Billion for Agriculture
  • 37 Billion for Communication and other fields
  • 13 Billion for Lahore and Karachi Hospitals
  • 48 Billion For KPK districts
  •  650 Billion For PSDP
  • 06 Billion for Ministries of Climate Change
  • 800 Billion For State Bank Loans Payments
  • 80 Billion For Power Transmission System
  • The decrease in FBR receipts has been fixed
  • The requirement for National Identity Card has been increased from 50,000 to 100,000.
  • 250 Billion For Social Sectors
  • 208 Billion For Ehsas Program
  • 180 Billion For Energy and Food
  • 20 Billion For Science and Information Technology
  • Budget deficits reached a high rate of 2300 Billion
  • 10 Billion for Baluchistan Special Grant
  • Excise Duty increasing 65% to 100%
  • The excise tax will be levied on double cabin pickups
  • Excise duty increasing 13 % to 25 % on all drinks
  • Auto Rickshaw Motorcycle and 200 CC Motorcycles advance tax is finished

Presently, the Finance Ministry is functioning on the budget as per the notified budget calendar for 2022-23. The government should also save the dollar by prevent unnecessary imports and restoring the buoyancy of overseas Pakistanis to add to remittances.

Read Also : New Cars Price in Pakistan After Budget

From the spending side again the federal government is to cut its present expenditures, mostly on the domestic attention payment side. This shows the intensification of democracy in the country,” the minister thought as he began current budget on the floor of the National Assembly.

  • 20 % of Loans will be decreased for low-income housing.
  • Rs 5 Billion would be declared for revolving funds up.
  • Tax will be the same for expensive phones & low-priced phones.
  • 5 % at diesel engines for agriculture motives will be decreased.
  • On mobile cards, about 30 % returned.
  • Tax increased on vehicles for 1800CC.
  • Tax on agriculture will be diminished to 20 %.

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