Big News For Retired Employees' In 2023 Budget | Dunya News

Finance Minister Ishaq Dar will unveil the federal budget for the fiscal year 2023-24 shortly with a proposed outlay of Rs14.7 trillion, The News reported.

With a higher consolidated budget deficit of over 6% of GDP. It will also dole out funds on different targeted schemes to lure voters in the next general elections.

Moreover, the government has set the Federal Board of Revenue's (FBR) tax collection target at Rs9.2 trillion, and a non-tax revenue target of Rs2.7 trillion.

For the non-tax revenue target, the government plans to secure powers by amending the finance bill to jack up the petroleum development levy (PDL) from Rs50 per litre to Rs55-60 per litre in order to collect Rs870 billion in the next budget against revised estimates of Rs550 billion for the outgoing fiscal year.
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