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Govt decides to cut PSDP budget by Rs 250bn to ‘overcome’ shortfall

Pakistan Jun, 26 2024
Govt decides to cut PSDP budget by Rs 250bn to ‘overcome’ shortfall
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ISLAMABAD: Minister for Planning Ahsan Iqbal said that government would cut Rs 250 billion from proposed budget for fiscal year 2024-25.

Speaking to media, Ahsan Iqbal said that confirmed that cut of Rs 250 billion would be made in development programme. He said that cut was essential to overcome revenue shortfall and that development budget had to bear brunt of it. “Public Sector Development Programme’s budget has been reduced from Rs 1,400 billion to Rs 1,150 billion,” he added. Ahsan Iqbal said that sacrifice of development budget is aimed at relieving public and agriculture sector from burden of taxes.

Earlier on Monday, Senate of Pakistan approved recommendations for budget 2024-25, asking government to fix minimum monthly wage for labours at Rs 45,000 Upper house approved 128-point recommendations presented by Senate Standing Committee on Finance Chairman Saleem Mandviwala. 

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