Upcoming federal budget’s estimated outlay is likely to be between Rs3.864 trillion to Rs3.937 trillion while there is also a proposal to increase salaries of the government employees by up to 15 percent.
Briefing a joint meeting of the standing commissions of the National Assembly and the Senate, Federal Minister for Finance Ishaq Dar said that overall tax collection target for the upcoming 2014-15 fiscal year will be Rs2.810 trillion.
Dar said that a sum of Rs1.703 trillion will be paid out to states under the National Finance Commission Award, while Rs226 billion will be allocated for subsidy on electricity during 2014-15.
The finance minister stated that the defense budget is likely to go up by 10 percent to Rs715 billion in the following fiscal.
The meeting was jointly led by Senator Nasreen Jalil and MNA Umar Ayub.
Some committee members opined that government’s budgetary proposals may push up inflation.
Meanwhile, a cross section of government employees is of the view that 10-15 percent raise in salaries is simply not sufficient. They suggested at least 30-35 percent growth while some even took a cent percent raise.