ISLAMABAD: Finance Minister Shaukat Tarin on Friday presented the Federal Budget 2021-22 in the National Assembly with a total outlay of Rs 8,487 billion.
National Speaker Asad Qaisar presided over the budget session. Prime Minister Imran Khan was also present in the session.
Presenting the budget, the minister said that it was a honour for him to present the budget. “The country was on the verge of bankruptcy when we assumed the power and the current account deficit was US$20,” he said.
He said that the government faced the biggest challenge of saving the country from bankruptcy. “We adopted the policy of reducing the expenditures and increasing the income,” he maintained.
Shaukat Tarin said that the government faced two waves of coronavirus. “During the coronavirus pandemic, 12 million families were provided financial assistance,” he added.
“The target for tax and non-tax revenue is set at Rs7,909 billion. Rs3060 billion for interest payments, Rs1370 billion for defence and 480 billion for pensions were allocated. Rs479 billion for management of the civil government and Rs100 billion was set aside to deal with emergencies and coronavirus.”
He claimed that the per capita increased by 15 per cent despite the coronavirus pandemic. “We have overcome the current account deficit. A record increase of 25% has been made in remittances. We face the challenge of inflation,” he declared.
The minister said that exports witnessed a 14 per cent increase.