{"id":93871,"date":"2023-06-12T13:04:34","date_gmt":"2023-06-12T08:04:34","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=93871"},"modified":"2023-06-12T14:29:24","modified_gmt":"2023-06-12T09:29:24","slug":"features-budget-2023-24-outlay-pkr-14tr","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/features-budget-2023-24-outlay-pkr-14tr.html","title":{"rendered":"Budget 2023-24: Govt proposes budget with PKR 14tr outlay"},"content":{"rendered":"\n<p>Islamabad: Finance Minister Ishaq Dar has presented the federal budget for the fiscal year 2023-24 in the National Assembly with an outlay of more than PKR 14 trillion, according to news source on June 9.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/government-approves-160-road-projects.html\" target=\"_blank\" rel=\"noreferrer noopener\">Details shared on approved road projects in upcoming budget<\/a><\/p>\n\n\n\n<p>As per the details, the government has taken some measures to provide relief to the inflation-stricken nation. Here are the relief measures:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Increase in BISP allocation, from PKR 400 billion to PKR 450 billion<\/li>\n\n\n\n<li>Increase in salaries of civil servants in form of Ad-hoc Relief Allowance<\/li>\n\n\n\n<li>Health insurance card for working journalists and artists<\/li>\n\n\n\n<li>Increase in pension and minimum pension to PKR 12,000<\/li>\n\n\n\n<li>Minimum wage increase from PKR 25,000 to 30,000 in ICT Loan write-off scheme for widows<\/li>\n\n\n\n<li>Increase in rates of the following allowances:<ul><li>Orderly allowance<\/li><\/ul><ul><li>Special conveyance allowance for disabled<\/li><\/ul><ul><li>Additional charge current charge allowance<\/li><\/ul>\n<ul class=\"wp-block-list\">\n<li>Daily and mileage allowance &nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>The following are the details of Prime Minister\u2019s Initiatives \u2013 Planning Development and Special Initiatives (PSDP):<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PKR 30 billion set aside for PM Initiative for Solar Tubewells<\/li>\n\n\n\n<li>PKR 10 billion for PM Youth Program for Small Loans<\/li>\n\n\n\n<li>PKR 5 billion for Pakistan Endowment Fund for Education<\/li>\n\n\n\n<li>PKR 5 billion for PM initiative for IT start-ups and Venture Capital<\/li>\n\n\n\n<li>PKR 5 billion for PM initiatives for Women Empowerment<\/li>\n\n\n\n<li>PKR 10 billion for PM Laptop Scheme<\/li>\n\n\n\n<li>PKR 5 billion for PM Green Revolution \u00a0\u00a0\u00a0\u00a0<\/li>\n\n\n\n<li>PKR 5 billion for PM Youth Skill Development<\/li>\n\n\n\n<li>PKR 5 billion for Other initiatives (sports and hepatitis C control program)&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/business-friendly-budget-assured-dar.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt will try to make business-friendly budget: Dar<\/a><\/p>\n\n\n\n<p>Moreover, the budget includes a total of 1,210 development projects, out of which 32 of them will be allocated PKR 5 billion or more each. The Annual Development Program (ADP) has been allocated a budget of PKR 1,150 billion.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PKR 90 billion has been earmarked for the Public Sector Development Program (PSDP)<\/li>\n\n\n\n<li>PKR 170 billion has been reserved for Special Initiatives of the Prime Minister and Development Schemes of lawmakers<\/li>\n\n\n\n<li>PKR 58.59 billion are reserved for Dasu Hydropower Project<\/li>\n\n\n\n<li>PKR 17 billion are allocated for Karachi Greater Water Supply Scheme<\/li>\n\n\n\n<li>PKR 17.63 billion will be used for purchasing railway freight wagons and passenger bogies<\/li>\n\n\n\n<li>PKR 14.86 billion allotted for Karachi Coastal Power Project<\/li>\n\n\n\n<li>PKR 26 billion are reserved for Merged districts of Khyber Pakhtunkhwa<\/li>\n\n\n\n<li>PKR 31 billion will be utilised for 10-year development plan of the former tribal areas<\/li>\n\n\n\n<li>PKR 10.5 billion has been allocated for Mohmand Dam Hydropower Project<\/li>\n\n\n\n<li>PKR 12 billion reserved for Jamshoro Coal Power Project<\/li>\n\n\n\n<li>PKR 16 billion will be allocated for Pakistan-Tajikistan transmission line<\/li>\n\n\n\n<li>PKR 6 billion has been allotted for Rehabilitation of flood-affected areas<\/li>\n\n\n\n<li>PKR 5.70 has been set aside for Hyderabad-Sukkur Motorway project<\/li>\n\n\n\n<li>PKR 5 billion has been reserved for New Gwadar International Airport<\/li>\n\n\n\n<li>PKR 5 billion allotted for Lahore-Sialkot Motorway, from Narang Mandi to Narowal<\/li>\n<\/ul>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/kmc-pkr-32-bn-budget-fy2022-23.html\" target=\"_blank\" rel=\"noreferrer noopener\">KMC to get PKR 32 bn development budget for FY2022-23<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>PSDP 2023-24 for Ministries, Divisions, Departments<\/strong><\/h4>\n\n\n\n<p>The following are the details of budget for ministries, departments, and divisions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PKR 9.95 billion have been allocated for Interior Ministry<\/li>\n\n\n\n<li>PKR 1.40 billion has been reserved for Law and Justice Ministry<\/li>\n\n\n\n<li>PKR 3.3 billion has been set aside for Maritime Affairs Ministries<\/li>\n\n\n\n<li>PKR 150 million allotted for Narcotics Control Division<\/li>\n\n\n\n<li>PKR 13.10 billion has been allocated for Health Ministry<\/li>\n\n\n\n<li>PKR 540 million allocated for the National Heritage and Culture Division<\/li>\n\n\n\n<li>PKR 33 billion has been reserved for Railways Division<\/li>\n\n\n\n<li>PKR 26.10 billion has been allocated for Pakistan Atomic Energy Commission<\/li>\n\n\n\n<li>PKR 150 million has been set aside for the Pakistan Nuclear Regulatory Authority<\/li>\n\n\n\n<li>PKR 1.50 billion will be utilised for the Petroleum Division<\/li>\n\n\n\n<li>PKR 24.89 have been reserved for the Planning Division<\/li>\n\n\n\n<li>PKR 500 million earmarked for poverty alleviation and social protection<\/li>\n\n\n\n<li>PKR 800 million allocated for the Religious Affairs Ministry<\/li>\n\n\n\n<li>PKR 3.20 billion allotted for Revenue Division <\/li>\n\n\n\n<li>PKR 8 billion set aside for Science and Technology<\/li>\n\n\n\n<li>PKR 107 billion have been allocated for the Ministry of Water Resources<\/li>\n\n\n\n<li>PKR 6.90 billion set aside for SUPARCO<\/li>\n\n\n\n<li>PKR 54.55 billion has been reserved for the Ministry of Energy<\/li>\n\n\n\n<li>PKR 157.50 billion earmarked for the National Highway Authority (NHA)<\/li>\n\n\n\n<li>PKR 5.45 billion has been approved for Ministry of Aviation<\/li>\n\n\n\n<li>PKR 1.11 billion have been set aside for the Board of Investment<\/li>\n\n\n\n<li>PKR 90.12 billion have been approved for the Cabinet Division<\/li>\n\n\n\n<li>PKR 4.5 billion reserved for Climate Change<\/li>\n<\/ul>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sindh-budget-2022-23-tax-relief-it-sector.html\" target=\"_blank\" rel=\"noreferrer noopener\">Sindh Budget 2022-23: Tax relief announced for IT sector<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PKR 1.10 billion will be awarded to the Commerce Division<\/li>\n\n\n\n<li>PKR 3.40 billion have been set aside for the Defense Division<\/li>\n\n\n\n<li>PKR 2 billion has been reserved for defense production<\/li>\n\n\n\n<li>PKR 840 million has been allocated for the Establishment Division<\/li>\n\n\n\n<li>PKR 3.22 billion has been allotted for finance department<\/li>\n\n\n\n<li>PKR 8.50 billion has been set aside for development projects of the Federal Ministry of Education<\/li>\n\n\n\n<li>PKR 60.90 billion will be given to Azad Jammu and Kashmir<\/li>\n\n\n\n<li>PKR 57 billion have been earmarked for the merged districts<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PKR 59.71 billion allocated for the Higher Education Commission<\/li>\n\n\n\n<li>PKR 36.70 billion have been allocated for the Housing and Works Ministry<\/li>\n\n\n\n<li>PKR 180 million will be awarded to the Human Rights Ministry<\/li>\n\n\n\n<li>PKR 3 billion reserved for the Ministry of Industries and Production<\/li>\n\n\n\n<li>PKR 2 billion has been allocated for the Information and Broadcasting Ministry<\/li>\n\n\n\n<li>PKR 6 billion set aside for Information Technology<\/li>\n\n\n\n<li>PKR 1.90 billion have been allocated for the Ministry of Inter-Provincial Coordination<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Growth targets for various sectors for 2023-24<\/strong><\/h4>\n\n\n\n<p>The budget also sets growth targets for various sectors for the fiscal year 2023-24. The GDP growth rate target is set at 3.5%, with the agriculture sector and major crops also targeted at 3.5% each. The industrial production growth target is 3.4%, and the manufacturing target is 4.3%. The services sector is expected to grow by 3.6%.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/govt-approves-budget-punjab.html\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab Budget FY23: Govt approves development budget of PKR 685 bn<\/a><\/p>\n\n\n\n<p>Other growth targets include 3.6% for the livestock sector, 7.2% for cotton canning, 3% for forestry and fisheries, 3.2% for large-scale manufacturing, 2.2% for electricity generation and gas distribution, 2.8% for the wholesale and retail sector, and 5% for the transport and communication sector. The education sector is targeted at 3% growth, while the private sector production is expected to grow by 5%. The real estate sector is targeted at 3.6% growth, and the financial and insurance sector at 3.7%.<\/p>\n\n\n\n<p>These allocations and growth targets aim to support the development and growth of various sectors and promote economic stability in the fiscal year 2023-24.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here you can read the salient features of Budget 2023-24<\/p>\n","protected":false},"author":83,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[57074],"persona":[],"class_list":{"0":"post-93871","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-budget-2023-24-govt-proposes-budget-with-pkr-14tr-outlay","9":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Features of Budget 2023-24 with outlay PKR 14tr- Zameen News<\/title>\n<meta name=\"description\" content=\"Here are the features of Budget 2023-24 that was presented by Finance Minister Ishaq Dar on Friday in the National Assembly....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/features-budget-2023-24-outlay-pkr-14tr.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Features of Budget 2023-24 with outlay PKR 14tr- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Here are the features of Budget 2023-24 that was presented by Finance Minister Ishaq Dar on Friday in the National Assembly....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/features-budget-2023-24-outlay-pkr-14tr.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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