Pakistan's President Approves Finance Act 2025 with Rs17.57 Trillion Budget

President Asif Ali Zardari has approved the Finance Act 2025, setting a budget of Rs17.57 trillion for the upcoming fiscal year. The act, passed by the National Assembly, received the president's assent on June 27 and will be effective from July 1.

Finance Minister Muhammad Aurangzeb presented Pakistan's annual federal budget on June 10, aiming for a 4.2% economic growth in the next fiscal year. The budget includes measures to reduce overall spending and tighten tax policies.

The National Assembly approved the budget on June 26 with an outlay of Rs17.57 trillion, despite opposition's calls for public consultation. The budget projects a 4.2% economic growth rate and a 7.5% inflation rate for the upcoming fiscal year.

Key allocations in the budget include funds for defence, pension expenditures, subsidies, relief measures for salary and pension increases, as well as allocations for programs like BISP and PSDP. Infrastructure projects like Diamer Bhasha, Mohmand Dam, and education initiatives have also been funded in the budget.

The budget aims to support various sectors and drive economic growth in the upcoming fiscal year.

According to the source: Dawn.