ISLAMABAD: The official documents for Budget 2025-26 have been made public and the total volume of the upcoming fiscal year’s budget has been set at Rs17,553 billion, while the target for non-tax revenue is fixed at Rs2,147 billion, ARY News reported.
According to the documents, an estimated Rs1,468 billion is expected to be generated through petroleum levy, and around Rs50 billion through the Natural Gas Development Surcharge.
As per the budget documents, the target for revenue collection under the Gas Infrastructure Development Cess is Rs2.4 billion, while Rs5 billion will be raised through petroleum levy on LPG.
For the upcoming fiscal year, a total of Rs8,207 billion will be spent on loan repayments and interest payments, while Rs1,055 billion has been allocated for pensions of retired government employees.
According to the budget documents, Rs971 billion has been earmarked as the non-development budget for federal ministries and departments.
The Federal Board of Revenue (FBR) has been assigned a tax collection target of Rs14,131 billion. Out of this, Rs6,902 billion is expected from direct taxes, including Rs6,811 billion specifically from income tax.
The target for indirect taxes is Rs7,229 billion, which includes Rs1,588 billion from customs duty, Rs4,753 billion from sales tax, and Rs888 billion from federal excise duty.
The budget documents outline key figures for revenue generation and government spending for the fiscal year 2025-26.
Read More: Federal cabinet approves budget 2025-26 proposals
Earlier, the federal cabinet on Tuesday approved budget 2025-26 proposals.
Meeting of the federal cabinet was chaired by Prime Minister Shehbaz Sharif in Islamabad
The cabinet accorded approval to budgetary proposals for the fiscal year 2025-26.
Federal government has set GDP growth target at 4.2 per cent in the budget 2025-26.
The budget 2025-26 will be presented today in the National Assembly by Finance Minister, Muhammad Aurangzeb.
According to details, the current account deficit for the next fiscal year is projected at 2.1 billion dollars, which equals -0.5% of GDP.
The revised National Development Plan allocates over Rs4,223 billion for various development initiatives across the country.
Of this amount, Rs2,869 billion is earmarked for the PSDP, while federal ministries and divisions will receive over Rs682 billion for their respective development projects.
The National Highway Authority is expected to receive Rs 226.98 billion.
The Power Division will be allocated Rs90.22 billion under the Public Sector Development Programme (PSDP), and the Water Resources Division will receive Rs133.42 billion, the budget document available with ARY News read.
