Of which 1,523 billion for defense and 808 billion for development works
3,950 billion has been allocated for the payment of interest while the tax collection is estimated at Rs. 7,004 billion. The budget proposes relief to the salaried class with increase in salaries and pensions.
A meeting of the National Assembly is underway under the chairmanship of Speaker Raja Pervez Ashraf in which Finance Minister Muftah Ismail has presented the budget.
The tax exemption limit for business people and the Association of Persons has been increased from Rs 4 lakh to Rs 6 lakh.