ISLAMABAD – Federal cabinet has formally approved budget 2015-16 which is expected to have a total outlay of about Rs4.2 trillion.
According to the sources, Prime Minister Nawaz Sharif chaired the session of federal cabinet in which Ishaq Dar, the finance minister, briefed cabinet about the budget proposals.
According to media sources, Government has decided to increase pay of govrnment employees upto 7.5 percent. Government has also announced special packages for the victims of war against terrorism.
According to budgetary recommendations, beverages, cigarettes, cosmetics prices expected to rise with increase in duty. Moreover, a target of 6 percent has been set for inflation in the year 2015-16.
A meeting of the federal cabinet has finalised budgetary recommendations, after which the proposals will be presented in the National Assembly session called at 5:00PM.