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Sindh Chief Minister Syed Murad Ali Shah, who also serves as the Provincial Finance Minister, is scheduled to present the budget for the next financial year 2023-24 on June 10. A post-budget press conference is planned for June 11.
Meanwhile, Finance Minister Ishaq Dar will present the federal budget for the upcoming fiscal year today, with a total outlay of Rs 13,800 billion. However, sources suggest that the budget size may exceed Rs 13,800 billion, and the budget deficit is expected to surpass Rs 6,000 billion, with debt payments accounting for Rs 7,300 billion of the expenses.
According to sources, the estimated tax revenue for the next fiscal year is projected to be around Rs 9,200 billion, while non-tax revenue may reach Rs 2,800 billion. Additionally, Rs 1,300 billion could be allocated for subsidies.
The sources also revealed that the developmental budget for the upcoming fiscal year is estimated at Rs 1,150 billion. Provinces are expected to receive Rs 5,244 billion from the national divisible pool, and defense expenses are anticipated to exceed Rs 1,800 billion.
There is a possibility of a 20-30 percent increase in salaries for government employees in the upcoming federal budget, along with a 20 percent increase in pensions. Moreover, the government is likely to allocate over Rs 700 billion for pensions.
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