Annual Budget Statement
The Annual Budget Statement is part of the federal budget for FY 2024-25. This page reproduces the text of its 59 PDF pages, extracted automatically from the official PDF published by the Finance Division, Government of Pakistan.
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Page 1
FEDERAL BUDGET
2 0 2 4 - 2 5
ANNUAL
BUDGET
STATEMENT
GOVERNMENT OF PAKISTAN
FINANCE DIVISION
ISLAMABADPage 2
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PREFACE
Article 80(1) of the Constitution of the Islamic Republic of Pakistan requires that the Federal
Government shall, in respect of every financial year, cause to be laid before the National Assembly
a statement of estimated receipts and expenditure of the Federal Government for that year,
referred to as the Annual Budget Statement. Article 80(2) obligates that the statement shall show
separately the charged and other expenditures to be made from the Federal Consolidated Fund as
well as distinguish expenditures on revenue account from other expenditures. The statement shall
also be transmitted to the Senate as required under Article 73(1) of the Constitution.
Section 4 of the Public Finance Management Act, 2019 states that the Annual Budget Statement
shall include a statement of purpose, a statement of contingent liabilities of the Federal
Government, and a statement of fiscal risks. Further, Section 8 of the Act requires that the Federal
Government shall, in respect of every financial year, lay a statement of estimated tax expenditure
before the National Assembly. These statements are accordingly included in the Annual Budget
Statement.
Section 5 and 10 of the Fiscal Responsibility & Debt Limitation Act, 2005 require laying of a medium-
term budgetary statement and statements of responsibility before the National Assembly. These
are also included in the Annual Budget Statement.
It is added that the Explanatory Memorandum of Federal Receipts and the Demands for Grants and
Appropriations constitute the explanatory part of the Annual Budget Statement for FY2024-25.
IMDAD ULLAH BOSAL
Secretary to the Government of Pakistan
Finance Division
Islamabad, the 12th June, 2024Page 4
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CONTENTS PAGE
I. Summary of Receipts ………………………………………………………………………… 1
II. Revenue Receipts ………………………………………………………………………… 2 - 4
III. Capital Receipts ………………………………………………………………………… 55 5
IV. External Receipts ……………………………………………………………………………. 6
V. Public Account Receipts ……………………………………………………………………… 7 - 10
VI. Summary of Expenditure ……………………………………………………………………… 11
VII. Current Expenditure on Revenue Account ………………………………………………… 12 - 14
VIII. Current Expenditure on Capital Account ………………………………………………… 15
IX. Development Expenditure on Revenue Account ………………………………………… 16 - 17
X. Development Expenditure on Capital Account …………………………………………… 18
XI. Capital Expenditure …………………………………………………………………………. 19
XII. Public Account Expenditure ………………………………………………………………… 20 - 23
XIII. Estimated Charged and Other Expenditure
met from Federal Consolidated Fund …………………………………………………… 2 24
XIV. Statement of Purpose……………………………………………………………………………. 25
XV. Demand for Grants and Appropriations for Expenditure 2024-25
Demand-Wise Expenditure (Schedule-I) …………………………………………………26 - 37
XVI. Demand for Grants and Appropriations for Expenditure (Schedule - III).................. 38
XVII. Statement of Contingent Liabilities………………………………………………..... 39 - 41
XVIII. Statement of Fiscal Risk…………………………………………………………....... 42 - 44
XIX Statement of Estimated Tax Expenditure…………………………………………………… 45
XX Medium Term Budgetary Statement 2024-27………………………………......... 46 - 47
XXI Climate Budget Statemen ................................................................................. 48
XXII Gender Budget Statement............................................................................ 49
XXIII Disaster Budget Statement................................................................................. 50
XXIV Employee Related Data.......................................................................... 51
XXV Statements of Responsibility………………………………………………………..... 52 - 53Page 6
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Page 7
SUMMARY OF RECEIPTS
Federal receipts are categorized as Revenue Receipts, Capital Receipts, Public Account Receipts and External
Receipts. All these receipts, except Public Account Receipts become part of the the Federal Consolidated Fund.
As per Section 22 of the Public Finance Management Act, 2019, the operation of the Federal Consolidated Fund
and the Public Account of the Federation vests in the Finance Division.
(Rs in million)
Budget Revised Budget Object Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
A- Revenue Receipts - Federal Consoli-
dated Fund
B 1 Tax Revenue Receipts 9,415,000 9,252,000 12,970,000
FBR Taxes 9,415,000 9,252,000 12,970,000
B01 Direct Taxes 4,255,000 3,721,000 5,512,000
B02 Indirect Taxes 5,160,000 5,531,000 7,458,000
C 2 Non-Tax Revenue Receipts 2,963,164 2,947,850 4,845,415
B03 Levies and Fees 29,433 20,877 24,809
C01 Income from Property and Enterprise 398,054 517,642 477,117
C02 Receipts from Civil Administration etc 1,168,492 1,015,704 2,555,738
C03 Miscellaneous Receipts 1,367,185 1,393,627 1,787,751
3 Total Revenue Receipts (1+2) 12,378,164 12,199,850 17,815,415
E 4 Capital Receipts 2,531,119 2,801,503 3,034,379
E02 Recovery of Loans and Advances 632,200 393,541 491,999
E03 Domestic Debt Receipts (Non Bank) - Net 1,898,919 2,407,962 2,542,380
5 Total Internal Receipts (3+4) 14,909,283 15,001,353 20,849,794
6 External Receipts 7,169,136 5,053,335 5,685,801
7 Total Internal and External Receipts (5+6) 22,078,419 20,054,688 26,535,595
B - Public Account of Federation Net
Receipts
G 8 Public Account Receipts 7,210 (94,572) 120,232
Deferred Liabilities (Net) (38,397) (160,154) 53,035
Deposit and Reserves (Net) 45,607 65,582 67,197
9 Gross Federal Resources (7+8) 22,085,629 19,960,116 26,655,828
Less Provincial Share in Federal 10 5,399,001 5,427,000 7,438,000 Taxes
11 Net Federal Resources (9-10) 16,686,628 14,533,116 19,217,828
12 Cash Balance Surplus by the Provinces 600,000 539,000 1,217,000
13 Privatization Proceeds 15,000 10,838 30,000
14 Credit from Banking Sector 2,259,769 3,335,188 3,924,002
15 Total-Resources (11+12+13+14) 19,561,397 18,418,142 24,388,830Page 8
REVENUE RECEIPTS
Revenue Receipts constitute major component of total Federal resources. Revenue Receipts may be
categorized as Tax Revenue Receipts and Non-Tax Revenue receipts, which are largely derived from the
following sources:-
Tax Revenue Receipts
Tax Revenue is administered by the Federal Board of Revenue (FBR), which comprises Customs Duty and
Inland Revenue i.e Direct Taxes, Sales Tax and Federal Excise Duty. FBR taxes may also be categorized as
Direct Taxes and Indirect Taxes. Direct Taxes comprise Income Tax, Capital Value Tax, WWF (Ordinary
Collection) and Contribution under Compnies Profit (WPPF). Indirect Taxes include Sales Tax, Federal Excise
Duty and Customs Duty. A snapshot of Budget Estimates is as under:-
(Rs in million)
Budget Revised Budget Object Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
B Tax Revenue
FBR Taxes 9,415,000 9,252,000 12,970,000
B01 i.Direct Taxes 4,255,000 3,721,000 5,512,000
B011 Taxes on Income 4,203,531 3,681,888 5,454,062
B017-18 Capital Value Tax (CVT) 925 10,573 15,662
B01501 WWF (Ordinary Collection) 15,666 11,231 16,637
WPPF(Contribution under Companies B01502 34,878 17,308 25,639 Profit)
B02 ii.Indirect Taxes 5,160,000 5,531,000 7,458,000
B020-22 Customs Duties 1,211,000 1,324,000 1,591,000
B023 Sales Tax 3,411,000 3,607,000 4,919,000
B024-25 Federal Excise 538,000 600,000 948,000
1 Total Tax Revenue (i+ii) 9,415,000 9,252,000 12,970,000Page 9
Non-Tax Revenue Receipts
As per Section 2(a) of the Public Finance Management Act, 2019 (amended), Non-Tax Revenue means
revenues received by the Government in terms of clause (1) of Article 78 of the Constitution and the recurring
income of the Government from investments and provision of services but does not include those mentioned in
clause (3) of Article 160 of the Constitution. Non-Tax Revenue of the federal government is administered by
various Ministries / Divisions/ Departments. Budget Estimates are as under:-
(Rs in million)
Budget Revised Budget
Object Description Estimates Estimates Estimates Code
2023-24 2023-24 2024-25
C Non Tax Revenue
B03 a) Levies and Fees 29,433 20,877 24,809
B03087 Mobile Handset Levy 10,000 8,000 10,000
B013-030 Receipts of ICT Administration 19,380 12,824 14,756
B03064 Airport Fee (CAA) 53 53 53
C01 b) Income from Property and Enterprise 398,054 517,642 477,117
C01008 Surplus Profit of PTA 1,628 2,802 1,200
C01008 PTA (License Renewal Fees) 72,597 30,941 32,612
C01012 Regulatory Authorities (Surplus Profit) 7,203 1,168 10,036
C012-18 Mark up Receipts 195,201 389,737 294,353
C012 Mark up Receipts (Provinces) 77,201 89,737 96,353
C013-18 Mark up Receipts ( PSEs & Others) 118,000 300,000 198,000
C019 Dividend 121,425 92,994 138,915
c) Receipts from Civl Administratin &C02 1,168,492 1,015,704 2,555,738 Other Functions
C021-24 General Administration Receipts 7,613 4,594 4,846
C02211 Surplus Profit of State Bank of Pakistan 1,113,000 972,183 2,500,000
C025 Defence Services Receipts 41,256 31,189 42,427
C026 Law and Order Receipts 2,016 2,124 1,954
C027 Community Services Receipts 2,629 3,892 4,586
C028-29 Social Services 1,977 1,723 1,925
C03 d) Miscellaneous Receipts 1,367,185 1,393,627 1,787,751
C031-35 Economic Services Receipts 15,806 13,116 16,916
C03601 Foreign Grants (Budgetary Support) 25,000 6,000 15,000
C03725 Extraordinary Receipts (UNO) 58,322 37,200 46,000
C037 Extraordinary Receipts (Others) 2,647 4,755 5,854
C03897 Nationalization, Passport and Others 59,004 59,004 75,005
C038 Other Receipts of Attached Departts 65,405 75,662 100,516
Contd…..Page 10
(Rs in million)
Budget Revised Budget
Object Description Estimates Estimates Estimates Code
2023-24 2023-24 2024-25
Non-Tax Revenue
C03901 Petroleum Levy 869,000 960,000 1,281,000
C03902 Natural Gas Development Surcharge 40,000 27,169 25,618
C03905 Royalty on Crude Oil 50,000 57,917 58,654
C03906 Royalty on Natural Gas 75,000 93,567 103,751
C03910 Discount Retained on Local Crude Price 20,000 25,000 25,000
C03915 Windfall Levy against Crude Oil 35,000 28,000 28,000
C03916 Gas Infrastructure Development Cess 40,000 2,500 2,500
C03917 Petroleum Levy on LPG 12,000 3,516 3,537
C03919 Windfall Levy on Gas - 220 400
C 2 Total Non-Tax Revenue (a+b+c+d) 2,963,164 2,947,850 4,845,415
3 Total Revenue Receipts (1+2) 12,378,164 12,199,850 17,815,415Page 11
CAPITAL RECEIPTS
Capital receipts comprise Recoveries of Loans and Advances from Provinces and other entities and Public Debt
which includes Permanent Debt and Floating Debt. The net capital receipts so realized by the federal
government generally constitute the available resources for the financing of its Public Sector Development
Programme. Budget Estimates are as under:-
(Rs in million)
Budget Revised Budget
Object Description Estimates Estimates Estimates Code
2023-24 2023-24 2024-25
E02 I. Recoveries of Loans and Advances 632,200 393,541 491,999
E021 Provinces 621,700 269,493 479,999
E022-27 PSEs and Others 10,500 124,048 12,000
E03 II. Total Domestic Debts Receipts (a+b) 30,796,958 26,496,897 21,592,415
E031 a) Permanent Debt Receipts 5,242,306 5,306,536 9,070,245
Pakistan Investment Bonds (Bank) 2,985,455 3,047,749 5,182,427
Pakistan Investment Bonds (Non Bank) 426,851 356,787 408,319
Premium Prize Bonds (Registered) 30,000 13,000 30,000
Ijara Sukuk Bonds 1,800,000 1,889,000 3,066,000
ICBC (Foreign Currency Denominated - - 383,500 Domestic Loan)
E032 b) Floating Debt Receipts 25,554,653 21,190,361 12,522,169
Prize Bonds 18,653 11,361 11,169
Treasury Bills Through Auction 25,536,000 21,179,000 12,511,000
4 Capital Gross Receipts (I+II) 31,429,158 26,890,438 22,084,414
Domestic Debt Receipts (i+ii) 30,796,958 26,496,897 21,592,415
Domestic Debt Repayment (page-17) 28,898,040 24,088,935 19,050,034
Net Domestic Debt Receipts 1,898,919 2,407,962 2,542,380
5 Total Federal Internal Gross Receipts (3+4) 43,807,323 39,090,288 39,899,829Page 12
EXTERNAL RECEIPTS
External Resources comprise loans and grants received from multilateral, bilateral and other sources for
approved projects, programmes and other initiatives. Budget Estimates are as under:-
(Rs in million)
Budget Revised Budget
Description Estimates Estimates Estimates
2023-24 2023-24 2024-25
6 Total External Receipts 7,169,136 5,053,335 5,685,801Page 13
PUBLIC ACCOUNT RECEIPTS
Article 78(1) of the Constitution of Islamic Republic of Pakistan provides that all revenues received by the
Federal Government, all loans raised by that Government and all moneys received by it in repayment of loan,
shall form part of the Federal Consolidated Fund. Article 78(2) provides that all other monies received by or
on behalf of the Federal Government shall be credited into the Public Account of the Federation.
Therefore, all the monies received by or on behalf of the Federal Government in terms of Article 78(2) are Public
Account receipts which are not revenues in terms of Article 78(1) of the Constitution. However, such Public
Account receipts cannot be operated without establishment of Special Purpose Funds, deposits, reserves etc
under the authority of an act of the Parliament or with the approval of the Federal Government. Moreover, as per
Section 32 of the Public Finance Management Act, 2019, special purpose funds, in which monies have been
appropriated by the National Assembly shall be established under any law or with the approval of the Federal
Government. There are two sources of Public Account Receipts as under:-
National Savings Schemes
National Savings Schemes include Savings bank accounts, Defence Savings Certificates, Special Savings
Certificates, Pension Benefit Accounts, Behbood Savings Certificates etc.
(Rs in million)
Budget Revised Budget
Object Description Estimates Estimates Estimates Code
2023-24 2023-24 2024-25
Investment Deposit Accounts (Savingsi. G111 1,694,077 1,759,895 1,602,656 Schemes)
G11101 Savings Bank Accounts 681,697 675,934 663,642
G11106 Defence Savings Certificates 70,140 55,219 47,602
G11111 Special Savings Certificates (Registered) 93,952 232,751 133,803
G11112 Special Savings Accounts 169,399 54,874 31,546
G11113 Regular Income Certificate 119,002 122,867 124,336
G11126 Pension Benefit Accounts 95,491 113,903 95,979
G11127 Behbood Saving Certificates 219,356 272,543 215,683
G11130 Shuhada Welfare Account 40 55 65
New Sarwa Islamic Saving & Term Accounts 200,000 98,749 170,000
G11129 Short Term Savings Certificates 45,000 133,000 120,000
ii. G061 Provident Fund 51,945 49,726 51,160
1,746,022 1,809,621 1,653,816 Gross Public Account Receipts ( i+ii )
1 Gross Public Account Receipts ( i+ii ) 1,746,022 1,809,621 1,653,816
Gross Public Account Expenditure (Page- 1,784,419 1,969,775 1,600,781 18)
Net Public Account Receipts (38,397) (160,154) 53,035
Contd…..Page 14
Deposits and Reserves (Receipts)
Deposits and Reserves represent all monies forming part of the Public Account of the Federation as per
Article 78(2) of the Constitution of Islamic Republic of Pakistan. Budget estimates of receipts in the
following table are however subject to fulfillment of following stipulations:-
(i) The funds appropriated by the National Assembly out of Federal Consolidated Funds in terms of Articles 80 to
84 of the Constitution for a particular financial year (being lapsable) shall be utilized as per Cash Management
and TSA Rules 2020 and shall not be deposited under these deposits and reserves heads of account (being non-
lapsable) under the Public Account.
(ii) The maintenance and operation of all these funds, deposits, reserves etc shall be subject to their due
establishment either under the authority of an act of Parliament or with the approval of the Federal Government,
as the case may be.
(iii) Revenues in terms of Article 78(1) of the Constitution shall not be deposited in these deposits and reserves
heads of account under the Public Account. The revenues shall only be deposited in the respective heads of
account of tax revenue and non tax revenue.
(iv) Receipt of funds into these deposits and reserves heads of account shall only be allowed by the Accounting
Offices subject to compliance of the stipulations at (i) to (iii) above and to the extent of reconciled available
balance under the respective head of account.
(Rs in million)
Budget Revised Budget Object Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
G Deposits and Reserves
FGE Benevolent Funds 2,018 2,068 2,172
G06202 Civil 1,915 1,977 2,075
G06205 Pakistan Post Office Deptt. 4 4 4
G06206 Pak PWD 63 58 61
G06209 National Saving 26 23 25
G06210 Pakistan Mint 3 - -
G06212 Geological Survey of Pakistan 7 6 7
Group Insurance Fund 501 474 497
G06401 PAK PWD 6 7 7
G06404 National Saving 6 6 6
G06405 Pakistan Mint 0.19 - -
G06407 Geological Survey of Pakistan 3 2 2
G06409 Civil 486 458 481
G07104 Fed. Govt. Empl. Group Insur. Fund PPO 1 0.4 0.4
Contd…..Page 15
(Rs in million)
Budget Revised Budget Object Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
G Deposits and Reserves
Defence 7,856 11,303 11,868
G06203 F,G Employees Benevolent Fund (Defence) 4,310 4,273 4,486
G06410 Group Insurance Fund (Defence) 227 1,212 1,273
G11224 Deposits Accounts with Defence 3,319 5,818 6,109
Federal Pension Fund 10,000 0 10,000
G12803 Federal Pension Fund Receipts 10,000 - 10,000
Pakistan Post Office Department - - -
G07101 Post Office Renewal Reserve Fund - - -
G07102 Post Office Welfare Fund - - -
Pak PWD 85,756 70,592 74,122
G10101 Pak PWD Receipts & Collection Account 938 457 480
G10113 Pak PWD Deposits 84,817 70,135 73,642
Arts 1,000 - -
Film Finance Fund 1,000 - -
G Deposits and Reserves 79,938 104,679 104,255
Miscellaneous Funds
G06304 Workers Welfare Fund 32,336 45,000 40,000
G06315 Judicial Officers Welfare Fund 4 3 3
G12140 PM Flood relief Fund 2010 0.13 0.02 0.03
G12150 PM Relief Fund for IDPs 2014 1,886 142 150
G12157 PM COVID-19 Pandemic relief Fund 2020 361 2 2
PM's Relief Fund Flood, Earthquake Other G12164 10,530 179 188 Cal.
PM's Relief Fund for Turkiye & Syria G12166 1,134 3 3 Earthquake
G12205 Pakistan Minorities Welfare Fund 0.34 - -
Special Fund for Welfare & Uplift of G12206 0.33 - - Minorities
Federal Govt. Artists Welfare Fund G12226 - 176 185 (Heritage)
G12305 Export Development Fund 16,703 23,582 24,761
Reserve Fund for Exch. Risk on Foreign G12308 5,529 24,665 25,898 Loans
G12412 Pakistan Oil Seed Development Fund 249 150 158
Contd…..Page 16
(Rs in million)
Budget Revised Budget Object Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
G Deposits and Reserves
G12419 Research and Development Fund 2,349 1,789 1,879
SCP Diamer Basha and Mohmand Dam G12421 8 - - Fund
G12504 Workers Children Education Fund 0.28 0.18 0.18
G12612 Fund for Urdu Science Board 1 2 2
G12712 Trust Interest Fund(Charitable Endowment) 4 5 5
G12738 National Fund for Control of Drug Abuse 14 2 2
G12783 Universal Service Fund 7,200 5,357 5,625
Miscellaneous Deposit and Reserve
Accounts
G10104 Mint Receipt and Collection Account 60 3,595 3,774
G14100 Pakistan Mint 1,570 26 1,620
2 Gross Receipts (Deposits and Reserves) 187,069 189,116 202,914
Exp. Deposit and Reserves (page-23) 141,462 123,533 135,717
Net Deposit and Reserves Receipts 45,607 65,582 67,197
3 Gross Receipts (1+2) 1,933,091 1,998,737 1,856,730
Gross Expenditure (page-23) 1,925,881 2,093,308 1,736,498
7 PUBLIC ACCOUNT NET RECEIPTS 7,210 (94,572) 120,232Page 17
SUMMARY OF EXPENDITURE
(Current & Development)
In this table, the Budget Estimates of current expenditure (on revenue and capital account) and Budget
Estimates of Development expenditure (on revenue and capital accounts) have been mentioned as per Article
80(2) of the Constitution of Pakistan.
(Rs in million)
Budget Revised Budget Function Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
Current Expenditure
a. Current Exp. on Revenue Account 13,344,395 14,334,431 17,203,391
01 General Public Services 10,444,266 11,340,902 13,640,239
02 Defence Affairs and Services 1,809,467 1,840,841 2,128,781
03 Public Order and Safety Affairs 237,215 253,498 283,051
04 Economic Affairs 210,835 261,642 357,735
05 Environment Protection 1,226 1,142 7,252
06 Housing and Community Amenities 22,986 6,414 27,917
07 Health 24,210 27,789 28,171
08 Recreation, Culture and Religion 16,782 18,252 18,466
09 Education Affairs and Services 97,098 103,684 103,781
10 Social Protection 480,309 480,267 607,997
b. Current Exp. on Capital Account 4,608,359 2,593,698 5,168,439
011 Foreign Loans Repayment 4,398,068 2,382,222 4,989,963
011 Repayment of Short Term Foreign Credits 46,690 47,875 29,500
014 Transfers 163,601 163,601 148,976
1 Total Current Expenditure (a + b) 17,952,753 16,928,129 22,371,830
Development Expenditure
c. Dev. Exp. on Revenue Account 632,350 488,646 952,558
d. Dev. Exp. on Capital Account 976,294 1,001,368 1,064,442
2 Total Development Expenditure (c+d) 1,608,644 1,490,013 2,017,000
Grand Total - Expenditure (1+2) 19,561,397 18,418,142 24,388,830
3 Break-up of Expenditure
Revenue Account (a+c) 13,976,745 14,823,076 18,155,949
Capital Account (b+d) 5,584,653 3,595,066 6,232,881
Total Expenditure: 19,561,397 18,418,142 24,388,830Page 18
Current Expenditure on Revenue Account
(Rs in million)
Budget Revised Budget Function Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
01 General Public Service 10,444,266 11,340,902 13,640,239
011 Executive & Legislative Organs, Financial
& Fiscal Affairs, External Affairs 9,225,234 9,858,741 12,070,465
Debt Servicing 7,302,524 8,286,539 9,775,000
Servicing of Foreign Debt 872,219 1,039,833 1,038,602
Servicing of Domestic Debt 6,430,305 7,246,706 8,736,398
Superannuation Allowances & Pensions 801,000 801,000 1,014,000
Others (Details are in "Demands for Grants" 1,121,711 771,202 1,281,465 books.)
012 Foreign Economic Aid 4,399 4,399 9,032
014 Transfers 1,133,905 1,356,691 1,456,094
Provinces 216,300 215,876 287,000
Others (Details are in "Budget in Brief" book.) 917,605 1,140,814 1,169,094
015 General Services 23,328 30,800 31,712
016 Basic Research 8,784 8,444 10,035
017 Research & Dev. General Public Services 24,716 25,168 28,261
018 Admn. of General Public Service 7,786 39,404 9,635
019 Gen. Public Services not elsewhere defined 16,113 17,255 25,005
02 Defence Affairs and Services 1,809,467 1,840,841 2,128,781
021 Defence Services 1,804,000 1,835,528 2,122,000
A01 Employees Related Expenses 705,054 716,142 815,186
A03 Operating Expenses 442,232 451,332 513,328
A09 Physical Assets 461,195 464,078 548,612
A12 Civil Works 195,520 203,976 244,874
025 Defence Administration 5,467 5,312 6,781
03 Public Order and Safety Affairs 237,215 253,498 283,051
031 Law Courts 11,708 11,325 13,601
032 Police & Civil Armed Forces 214,055 234,890 255,305
033 Fire Protection 338 381 491
034 Prison Administration and Operation 50 64 108
035 R&D Public Order and Safety 60 65 70
036 Administration of Public Order 11,004 6,773 13,477
Contd…..Page 19
Current Expenditure on Revenue Account
(Rs in million)
Budget Revised Budget Function Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
04 Economic Affairs 210,835 261,642 357,735
041 Gen. Eco., Commercial & Labour Affairs 53,038 87,180 204,400
042 Agri., Food, Irrigation, Forestry & Fisheries 32,704 39,426 24,661
043 Fuel and Energy 51,943 51,851 19,650
044 Mining and Manufacturing 2,884 3,089 9,503
045 Construction and Transport 40,513 40,265 45,877
046 Communications 26,811 37,153 51,510
047 Other Industries 1,741 1,893 1,347
048 Research & Development Economic Affairs 1,200 786 785
05 Environment Protection 1,226 1,142 7,252
053 Pollution Abatement 200 200 6,290
054 Research & Development Environment 300 220 -
055 Administration of Environment Protection 726 722 962
06 Housing and Community Amenities 22,986 6,414 27,917
061 Housing Development 1,001 536 1,564
062 Community Development 21,985 5,878 26,353
07 Health 24,210 27,789 28,171
Medical Products, Appliances and 071 32 71 32 Equipments
073 Hospital Services 16,567 20,069 21,683
074 Public Health Services 3,110 4,618 1,110
076 Health Administration 4,501 3,031 5,346
Contd…..Page 20
Current Expenditure on Revenue Account
(Rs in million)
Budget Revised Budget Function Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
08 Recreation, Culture and Religion 16,782 18,252 18,466
081 Recreational and Sporting Services 200 200 400
082 Cultural Services 1,433 1,544 1,244
083 Broadcasting and Publishing 11,120 13,701 12,404
084 Religious Affairs 1,780 1,782 1,861
086 Admn. of Information, Recreation & Culture 2,249 1,024 2,556
09 Education Affairs and Services 97,098 103,684 103,781
Pre-Primary and Primary Education Affairs 091 4,468 5,128 5,224 and Services
092 Secondary Education Affairs and Services 10,778 12,298 12,624
093 Tertiary Education Affairs and Services 76,589 81,998 79,312
094 Education Services Not definable by Level 180 49 726
095 Subsidiary Services to Education 346 359 273
096 Administration 3,698 2,844 4,497
Education Affairs & Services not Elsewhere 097 1,040 1,008 1,124 Classified
10 Social Protection 480,309 480,267 607,997
107 Administration 2,892 2,963 3,532
108 Others 2,127 2,270 1,449
109 Social Protection (Not elsewhere classified) 475,289 475,033 603,017
a.Current Expenditure on Revenue 13,344,395 14,334,431 17,203,391 Account
Revised Estimates 2023-24 are as of 24th May, 2024 based on SAP SystemPage 21
Current Expenditure on Capital Account
(Rs in million)
Budget Revised Budget Function Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
01 General Public Service 4,608,359 2,593,699 5,168,439
011 Foreign Loan Repayment 4,398,068 2,382,222 4,989,963
011 Repayment of Short Term Foreign Credits 46,690 47,875 29,500
014 Transfers 163,601 163,601 148,976
Federal Misc. Investments and Other Loans 163,601 163,601 148,976 and Advances by the Fed. Govt.
b. Current Expenditure on Capital 4,608,359 2,593,699 5,168,439 Account
I. Total Current Expenditure (a+b) 17,952,753 16,928,129 22,371,830Page 22
Development Expenditure on Revenue Account
(Rs in million)
Budget Revised Budget Function Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
01 General Public Service 308,471 261,410 496,471
Executive & Legislative Organs, Financial & 011 6,382 8,072 23,250 Fiscal Affairs, External Affairs
014 Transfers 254,750 233,221 377,066
015 General Services 24,898 8,985 60,927
016 Basic Research 15,963 9,349 34,407
017 Research & Dev. General Public Services 341 346 321
General Public Services not elsewhere 019 6,136 1,437 500 defined
02 Defence Affairs and Services 3,467 3,053 6,573
021 Military Defence 1,343 1,524 2,068
024 R & D Defence 124 164 330
025 Defence Administration 2,000 1,365 4,176
03 Public Order and Safety Affairs 3,928 2,621 3,007
031 Law Courts 1,400 961 1,230
032 Police and Civil Armed Forces 1,736 1,547 1,673
036 Administration of Public Order 792 113 104
04 Economic Affairs 183,399 141,662 305,820
041 Gen. Eco. Commercial and Labour Affairs 1,297 331 5,784
042 Agri., Food, Irrigation, Forestry & Fisheries 133,761 101,361 204,988
043 Fuel and Energy 6,199 8,805 32,124
044 Mining and Manufacturing 1,115 114 1,658
045 Construction and Transport 39,144 28,276 58,735
046 Communications 1,807 2,754 1,042
047 Other Industries 22 22 -
048 Research & Development Economic Affairs 55 - 1,488
05 Environment Protection 4,050 2,750 6,257
055 Administration of Environment Protection 4,050 2,750 6,257
06 Housing and Community Amenities 6,504 4,288 7,057
062 Community Development 5,894 4,271 7,005
063 Water Supply 610 17 52
Contd…..Page 23
DEVELOPMENT EXPENDITURE ON REVENUE ACCOUNT
(Rs in million)
Budget Revised Budget Function Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
07 Health 13,270 13,254 28,185
073 Hospital Services 6,906 7,104 14,596
074 Public Health Services 3,424 3,173 11,846
076 Health Administration 2,941 2,977 1,743
08 Recreation, Culture and Religion 7,881 4,501 4,725
081 Recreation and Sporting Services 6,900 3,520 3,650
082 Cultural Services - - -
083 Broadcasting and Publishing 981 981 1,075
09 Education Affairs and Services 82,391 54,542 87,869
Pre-Primary & Primary Edu. Affairs & 091 - - - Services
092 Secondary Edu. Affairs & Services - - -
093 Tertiary Edu. Affairs & Services 73,850 51,041 78,676
095 Subsidiary Services to Education 1,196 953 643
Education Affairs & Services not Elsewhere 097 7,345 2,548 8,550 Classified
10 Social Protection 18,989 564 6,594
107 Administration 18,467 49 6,594
108 Others 23 15 -
109 Social Protection (Not elsewhere classified) 500 500 -
c. Dev. Exp. on Revenue Account 632,350 488,646 952,558
Revised Estimates 2023-24 are as of 24th May, 2024 based on SAP SystemPage 24
DEVELOPMENT EXPENDITURE ON CAPITAL ACCOUNT
(Rs in Million)
Budget Revised Budget
Function Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
01 General Public Service 916,068 908,095 1,022,209
014 Transfers 889,818 885,265 996,952
017 Research and Dev. General Public 26,250 22,830 25,256
Services
04 Economic Affairs 59,954 93,000 41,984
041 Gen. Eco., Commercial and Labour Affairs 598 264 671
043 Fuel and Energy 902 1,860 2,555
044 Mining and Manufacturing 13,000 1,923 4,919
045 Construction and Transport 43,395 86,866 33,839
046 Communications 2,058 2,087 -
06 Housing And Community Amenities 272 272 -
063 Water Supply 272 272 -
08 Recreation, Culture and Religion - - 250
083 Broadcasting and Publishing - - 250
d. Dev. Expenditure on Capital 976,294 1,001,368 1,064,442 Account
II.Total Development Expenditure (c+d) 1,608,644 1,490,013 2,017,000
III.Total Exp. (Current+Development) 19,561,397 18,418,142 24,388,830Page 25
CAPITAL EXPENDITURE
The expenditure incurred on repayment of domestic debt receipts is termed as Capital Expenditure.
(Rs in million)
Budget Revised Budget
Object Code Description Estimates Estimates Estimates
2023-24 2023-24 2024-25
3,542,996 3,460,468 6,530,041A101 i.Domestic Permanent Debt
Pakistan Investment Bonds (Bank) 2,985,455 3,047,749 5,182,427
Pakistan Investment Bonds (Non Bank) 182,049 119,755 203,632
Foreign Exchange Bearer Certificates 5 0.5 5
Foreign Currency Bearer Certificates 5 1 5
US Dollar Bearer Certificates 3 0.1 3
Special US Dollar Bonds 50 40 50
Premium Prize Bonds (Registered) 5,000 14,000 5,000
Ijara Sukuk Bond 368,430 274,698 752,531
Pakistan Banao Certificate (3-years) 694 588 -
Pakistan Banao Certificate (5-years) 651 2,882 2,888
Foreign Assets (D and R) Act, 2018 654 754 - (FADRA)
Special Drawing Rights Debt (SDRs) - - -
Principal Repayment of Foreign Currency - - 383,500 Denomated - Domestic Debt
A104 ii.Floating Debt 25,355,043 20,628,467 12,519,993
Prize Bonds 8,043 9,013 8,993
Treasury Bills Through Auction 25,347,000 20,619,453 12,511,000
Bai-Maujjal Ijara Sukuk Bonds - - -
A10 IV. Total Public Debt Repayment (i+ii) 28,898,040 24,088,935 19,050,034
Total - Federal Consolidated Fund V. 48,459,437 42,507,077 43,438,864 Disbursement (III+IV)Page 26
PUBLIC ACCOUNT EXPENDITURE
National Savings Schemes
The expenditure incurred on repayment of National Savings Schemes is termed as Public Account Expenditure.
(Rs in million)
Budget Revised Budget Object Description Estimates Estimates Estimates Code 2023-24 2023-24 2024-25
Investment Deposit Accountsi. G111 1,707,209 1,887,250 1,522,901 (Savings Schemes)
G11101 Savings Bank Accounts 669,937 669,514 644,376
G11103 Khas Deposit Accounts 5 5 5
G11104 Mahana Amadni Accounts 130 110 100
G11106 Defence Savings Certificates 96,171 88,679 78,275
G11108 National Deposit Certificates 1 1 1
G11109 Khaas Deposit Certificates 1 1 1
G11111 Special Savings Certificates (Registered) 134,039 275,068 149,480
G11112 Special Savings Accounts 185,939 64,851 35,242
G11113 Regular Income Certificate 274,689 337,606 203,987
G11126 Pensionery Benefits 71,910 79,663 70,152
G11127 Behbood Saving Certificate 214,368 226,982 191,257
G11130 Shauhda Welfare Account 20 20 25
New Sarwa Islamic Saving & Term Accounts 40,000 32,749 40,000
Short Term Savings Certificates (STSC) 20,000 112,000 110,000
ii. G061 Provident Fund 77,210 82,525 77,880
1 Total Expenditure ( i+ii ) 1,784,419 1,969,775 1,600,781
Contd…..Page 27
Deposits and Reserves
Deposits and Reserves represent all monies forming part of the Public Account of the Federation as per Article
78(2) of the Constitution of Islamic Republic of Pakistan. Budget estimates of Expenditure (withdrawal of funds)
from the Deposits and Reserves as depicted in the following table are however subject to fulfillment of following
stipulations:-
(i) The maintenance and operation of all these funds, deposits, reserves etc shall be subject to their due
establishment either under the authority of an act of Parliament or with the approval of the Federal Government,
as the case may be.
(ii) Withdrawal of funds from these deposits and reserves heads of account shall only be allowed by the
Accounting Offices subject to compliance of the stipulations at (i) above and to the extent of reconciled available
balance under the respective head of account.
(iii) There shall be no authority of directed access to Central Account No.1 (Non Food) in SBP.
(iv) Withdrawal of funds from these Deposits and Reserves head of accounts shall be in accordance with the
provisions of Public Finance Management Act, 2019, Cash Management and Treasury Single Account Rules
2020 and the Special Assignment Account Procedure for the Public Account of the Federation 2021. Personal
Ledger Accounts shall not be used for withdrawal of funds.
(Rs in million)
Budget Revised Budget
Object Description Estimates Estimates Estimates Code
2023-24 2023-24 2024-25
G Deposits and Reserves
FGE Benevolent Funds 1,418 2,049 2,151
G06202 Civil 1,328 1,962 2,060
G06205 Pakistan Post Office Deptt. - - -
G06206 Pak PWD 57 59 61
G06209 National Saving 25 23 24
G06210 Pakistan Mint 3 - -
G06212 Geological Survey of Pakistan 6 5 6
Group Insurance Fund 429 535 561
G06401 PAK PWD 5 7 7
G06404 National Saving 6 6 6
G06405 Pakistan Mint 0.2 - -
G06407 Geological Survey of Pakistan 2 2 2
G06409 Civil 415 520 546
G07104 Fed. Govt. Empl. Group Insur. Fund PPO - - -
Contd.....….Page 28
(Rs in million)
Budget Revised Budget
Object Description Estimates Estimates Estimates Code
2023-24 2023-24 2024-25
G Deposits and Reserves
Defence 6,485 9,427 9,898
G06203 FG Employees Benevolent Fund (Defence) 3,393 3,774 3,962
G06410 Group Insurance Fund (Defence) 168 1,176 1,235
G11224 Deposits Accounts with Defence 2,925 4,477 4,701
Federal Pension Fund 10,000 0 10,000
G12803 Federal Pension Fund 10,000 - 10,000
Pakistan Post Office Department 25 0.04 0.04
G07101 Post Office Renewal Reserve Fund 25 - -
G07102 Post Office Welfare Fund - 0.04 0.04
Pak PWD 57,354 52,426 55,047
G10101 Pak PWD Receipts & Collection Account 866 822 863
G10113 Pak PWD Deposits 56,488 51,604 54,184
Arts 1,000 - 0
Film Finance Fund 1,000 - -
G Deposits and Reserves 64,751 59,097 58,059
Miscellaneous Funds
G06304 Workers Welfare Fund 16,117 29,155 25,000
G06315 Judicial Officers Welfare Fund 0.1 0.3 0.3
G12140 PM Flood relief Fund 2010 258 0.01 0.01
G12150 PM Relief Fund for IDPs 2014 1,886 142 150
G12157 PM COVID-19 Pandemic relief Fund 2020 2 - -
PM's Relief Fund Flood, Earthquake Other G12164 8,986 1,096 1,150 Cal.
PM's Relief Fund for Turkiye & Syria G12166 490 805 845 Earthquake
G12205 Pakistan Minorities Welfare Fund - - -
Special Fund for Welfare & Uplift of G12206 - - - Minorities
Federal Govt. Artists Welfare Fund G12226 13 97 102 (Heritage)
G12305 Export Development Fund 7,044 6,538 6,865
Contd.....….Page 29
(Rs in million)
Budget Revised Budget
Object Estimates Estimates Estimates Description Code
2023-24 2023-24 2024-25
Reserve Fund for Exch. Risk on Foreign G12308 0.40 - - Loans
G12412 Pakistan Oil Seed Development Fund 80 - -
G12419 Reserch & Development Fund 3,530 7,226 7,587
SCP Diamer Bhasha and Mohmand Dam G12421 - - - Fund
G12504 Workers Children Education Fund 0.08 0.01 0.01
G12612 Fund for Urdu Science Board 1 4 4
G12712 Trust Interest Fund(Charitable Endowment) - 0.03 0.03
G12738 National Fund for Control of Drug Abuse - - -
G12783 Universal Service Fund 24,775 10,445 10,967
G Deposits and Reserves
Miscellaneous Deposits and Reserves
Accounts
G10104 Mint Receipt and Collection Account - 3,589 3,768
G14100 Pakistan Mint 1,570 - 1,620
2 Total Deposits and Reserves 141,462 123,533 135,717
3 Total Public Account Expenditure (1+2) 1,925,881 2,093,308 1,736,498Page 30
STATEMENT OF ESTIMATED CHARGED
AND VOTED EXPENDITURE
In terms of Article 80(2) of the Constitution of Pakistan, this statement distinguishes charged and voted
expenditure.
(Rs in million)
Budget Revised Budget
Object Description Estimates Estimates Estimates Code
2023-24 2023-24 2024-25
I. Expenditure on Revenue Account 13,976,745 14,823,076 18,155,949
Current 13,344,395 14,334,431 17,203,391
Development 632,350 488,646 952,558
Total-Authorized Expenditure 13,976,745 14,823,076 18,155,949
Charged 7,365,262 8,380,310 9,869,074
Voted 6,611,483 6,442,767 8,286,874
II. Expenditure on Capital Account 34,482,692 27,684,000 25,282,916
Current 33,506,398 26,682,633 24,218,474
Development 976,294 1,001,368 1,064,442
Total Authorized Expenditure 34,482,692 27,684,000 25,282,916
Charged 34,001,431 26,993,354 24,686,493
Voted 481,261 690,646 596,423
III. Total Expenditure met from Federal
Consolidated Fund 48,459,437 42,507,076 43,438,864
Current Expenditure 46,850,793 41,017,063 41,421,864
Development Expenditure 1,608,644 1,490,013 2,017,000
IV. Total-Authorized Expenditure 48,459,437 42,507,076 43,438,864
Charged - Total 41,366,693 35,373,664 34,555,567
Voted - Total 7,092,744 7,133,412 8,883,297Page 31
Statement of Purpose
This statement is being provided in compliance with section 4 of the Public Finance
Management Act, 2019. Based on the policy priorities of the Federal Government, the
“demands for grants” cater towards debt servicing of domestic and foreign loans and
advances, for expenditures to be incurred on re-current and development activities to
re-vitalize sustainable economic growth. Health, education, climate, gender and social
sector development are key focused areas for the government.
The FederalGovernment is steadfast in its commitment to provide relief measures
aimed at alleviating the burdens faced by the populace, especially those in the low-
income strata of society. Through targeted interventions such as social safety programs
and subsidies on essential commodities, including food items and electricity, the
government seeks to mitigate the adverse impacts of economic challenges on
vulnerable segments of the population.Moreover, recognizing the imperative of
stimulating economic activity and fostering employment opportunities, the government
will extend support to Information Technology and industrial sector particularly the
small medium enterprises. While, stimulating the economic growth through these
interventions, government's focus is also to promote green economy.
Imdad Ullah Bosal
Secretary to the Government of Pakistan
Finance Division
Islamabad, 12th June, 2024Page 32
Demand-Wise Expenditure for Budget Estimates 2024-25
(Rs. in million)
Budget Estimates 2024-25Demand Ministries / Divisions No. Charged Voted Total
1 AVIATION DIVISION 4,485 4,485
2 AIRPORTS SECURITY FORCE 14,383 14,383
3 CABINET 352 352
4 CABINET DIVISION 3,334 3,334
EMERGENCY RELIEF AND 5 889 889 REPATRIATION
6 INTELLIGENCE BUREAU 18,325 18,325
7 ATOMIC ENERGY 19,266 19,266
PAKISTAN NUCLEAR 8 1,862 1,862 REGULATORY AUTHORITY
NAYA PAKISTAN HOUSING 9 1,564 1,564 DEVELOPMENT AUTHORITY
PRIME MINISTER'S OFFICE 10 794 794 (INTERNAL)
PRIME MINISTER'S OFFICE 11 861 861 (PUBLIC)
NATIONAL DISASTER 12 823 823 MANAGEMENT AUTHORITY
13 BOARD OF INVESTMENT 1,272 1,272
PRIME MINISTER'S 14 147 147 INSPECTION COMMISSION
SPECIAL TECHNOLOGY ZONE 15 750 750 AUTHORITY
16 ESTABLISHMENT DIVISION 9,669 9,669
FEDERAL PUBLIC SERVICE 17 1,338 1,338 COMMISSIONPage 33
NATIONAL SCHOOL OF PUBLIC18 3,369 3,369 POLICY
19 CIVIL SERVICES ACADEMY 1,725 1,725
20 NATIONAL SECURITY DIVISION 231 231
COUNCIL OF COMMON21 103 103 INTEREST (SECRETARIAT)
CLIMATE CHANGE AND22 1,010 1,010
ENVIROMENTAL COORDINATION
DIVISION
23 COMMERCE DIVISION 20,530 20,530
24 COMMUNICATIONS DIVISION 303 303
OTHER EXPENDITURE OF25 33,714 33,714 COMMUNICATIONS DIVISION
PAKISTAN POST OFFICE26 23,469 23,474 DEPARTMENT
5
27 DEFENCE DIVISION 7,865 7,865
FEDERAL GOVERNMENT
EDUCATIONAL INSTITUTIONS28 14,319 14,319 IN CANTONMENTS AND
GARRISONS
Contd…...Page 34
(Rs. in million)
Budget Estimates 2024-25Demand Ministries / Divisions No. Charged Voted Total
29 DEFENCE SERVICES 2,122,000 2,122,000
DEFENCE PRODUCTION 30 1,095 1,095 DIVISION
31 ECONOMIC AFFAIRS DIVISION 905 905
MISCELLANEOUS
32 EXPENDITURE OF ECONOMIC 29,775 29,775
AFFAIRS DIVISION
33 POWER DIVISION 681,754 681,754
34 PETROLEUM DIVISION 19,304 19,304
GEOLOGICAL SURVEY OF 35 1,103 1,103 PAKISTAN
FEDERAL EDUCATION AND
36 PROFESSIONAL TRAINING 39,337 39,337
DIVISION
HIGHER EDUCATION 37 66,331 66,331 COMMISSION (HEC)
NATIONAL REHMATUL -LIL-
38 ALAMEEN WA KHATAMUN 102 102
NABIYYIN AUTHORITY
NATIONAL VOCATIONAL &
39 TECHNICAL TRAINING 716 716
COMMISSION (NAVTTC)
NATIONAL HERITAGE AND 40 2,295 2,295 CULTURE DIVISION
41 FINANCE DIVISION 4,392 4,392
OTHER EXPENDITURE OF 42 7,076 7,076 FINANCE DIVISION
CONTROLLER GENERAL OF 43 13,268 13,268 ACCOUNTSPage 35
SUPERANNUATION44 5,188 1,008,812 1,014,000 ALLOWANCES AND PENSIONS
GRANTS SUBSIDIES AND45 47,000 1,815,567 1,862,567 MISCELLLANEOUS
46 REVENUE DIVISION 109 109
FEDERAL BOARD OF47 52,231 52,231 REVENUE
48 FOREIGN AFFAIRS DIVISION 4,316 4,316
49 FOREIGN MISSIONS 50 47,547 47,597
HOUSING AND WORKS50 8,552 8,552 DIVISION
51 HUMAN RIGHTS DIVISION 1,159 1,159
NATIONAL COMMISSION FOR52 184 184 HUMAN RIGHTS
NATIONAL COMMISSION ON53 81 81 THE RIGHTS OF CHILD
NATIONAL COMMISSION ON54 118 118 THE STATUS OF WOMEN
INDUSTRIES AND55 75,931 75,931 PRODUCTION DIVISION
INFORMATION AND56 5,327 5,327 BROADCASTING DIVISION
Contd…...Page 36
(Rs. in million)
Budget Estimates 2024-25Demand Ministries / Divisions No. Charged Voted Total
MISCELLANEOUS
EXPENDITURE OF 57 11,518 11,518 INFORMATION AND
BROADCASTING DIVISION
INFORMATION TECHNOLOGY
58 AND TELECOMMUICATION 40,127 40,127
DIVISION
59 INTERIOR DIVISION 15,362 15,362
OTHER EXPENDITURE OF 60 10,778 10,778 INTERIOR DIVISION
ISLAMABAD CAPITAL 61 20,412 20,412 TERRITORY (ICT)
COMBINED CIVIL ARMED 62 232,372 FORCES 232,372
NATIONAL COUNTER 63 1,015 1,015 TERRORISM AUTHORITY
INTER-PROVINCIAL 64 2,451 2,451 COORDINATION DIVISION
KASHMIR AFFAIRS AND GILGIT 65 1,519 1,519 BALTISTAN DIVISION
66 LAW AND JUSTICE DIVISION 8,662
388 8,273
67 FEDERAL JUDICIAL ACADEMY 325
325
68 FEDERAL SHARIAT COURT 928
928
COUNCIL OF ISLAMIC 69 237
IDEOLOGY 237
NATIONAL ACCOUNTABILITY 70 7,110 BUREAU
7,110
DISTRICT JUDICIARY,
71 ISLAMABAD CAPITAL 1,368 1,368
TERRITORYPage 37
72 MARITIME AFFAIRS DIVISION 2,150 2,150
NARCOTICS CONTROL73 7,604
DIVISION 7,604
74 NATIONAL ASSEMBLY 12,737
7,293 5,444
75 THE SENATE 5,178 2,064 7,242
NATIONAL FOOD SECURITY76 14,786 14,786 AND RESEARCH DIVISION
PAKISTAN AGRICULTURAL77 6,410 6,410 RESEARCH COUNCIL
NATIONAL HEALTH SERVICES,
78 REGULATIONS AND 27,868 27,868
COORDINATION DIVISION
OVERSEAS PAKISTANIS AND
79 HUMAN RESOURCE 3,885 3,885
DEVELOPMENT DIVISION
PARLIAMENTARY AFFAIRS80 795 795 DIVISION
PLANNING, DEVELOPMENT
81 AND SPECIAL INITIATIVES 9,437 9,437
DIVISION
POVERTY ALLEVIATION AND82 5,179 5,179 SOCIAL SAFETY DIVISION
BENAZIR INCOME SUPPORT83 598,718 598,718 PROGRAME (BISP)
Contd…...Page 38
(Rs. in million)
Budget Estimates 2024-25Demand Ministries / Divisions No. Charged Voted Total
84 PAKISTAN BAIT-UL-MAL 14,009 14,009
85 PRIVATIZATION DIVISION 356 356
86 RAILWAYS DIVISION 64,439 64,439
RELIGIOUS AFFAIRS AND
87 INTER-FAITH HARMONY 1,956 1,956
DIVISION
SCIENCE AND TECHNOLOGY 88 14,411 14,411 DIVISION
STATES AND FRONTIER 89 978 978 REGIONS DIVISION
90 WATER RESOURCES DIVISION 3,886 3,886
FEDERAL MISCELLANEOUS
91 INVESTMENTS & OTHER 148,976 148,976
LOANS AND ADVANCES
DEVELOPMENT EXPENDITURE 92 7,303 7,303 OF AVIATION DIVISION
DEVELOPMENT EXPENDITURE 93 75,272 75,272 OF CABINET DIVISION
DEVELOPMENT EXPENDITURE 94 1,658 1,658 OF BOARD OF INVESTMENT
DEVELOPMENT EXPENDITURE
95 OF SPECIAL TECHNOLOGY 501 501
ZONES AUTHORITY
DEVELOPMENT EXPENDITURE 96 921 921 OF ESTABLISHMENT DIVISION
DEVELOPMENT EXPENDITURE 97 36,604 36,604 OF SUPARCOPage 39
DEVELOPMENT EXP OF
98 CLIMATE CHANGE AND ENV. 6,257 6,257
COORDINATION DIVISION
DEVELOPMENT EXPENDITURE99 2,205 2,205 OF COMMERCE DIVISION
DEVELOPMENT EXPENDITURE100 7,828 7,828 COMMUNICATION DIVISION
DEVELOPMENT EXPENDITURE101 5,636 5,636 OF DEFENCE DIVISION
DEVELOPMENT EXPENDITURE
102 OF DEFENCE PRODUCTION 3,776 3,776
DIVISION
DEVELOPMENT EXPENDITURE103 22,605 22,605 OF POWER DIVISION
DEVELOPMENT EXPENDITURE
104 OF FEDERAL EDUCATION & 19,334 19,334
PR. TR. DIVISION
Contd…...Page 40
(Rs. in million)
Budget Estimates 2024-25Demand Ministries / Divisions No. Charged Voted Total
DEVELOPMENT EXPENDITURE
105 OF HIGHER EDUCATION 66,315 66,315
COMMISSION
DEVELOPMENT EXPENDITURE
OF NATIONAL VOCATIONAL & 106 6,417 6,417 TECHICAL TRAINING
COMMISSION (NAVTTC)
DEVELOPMENT EXPENDITURE
107 OF NATIONAL HERITAGE & 1,015 1,015
CULTURE DIVISION
DEVELOPMENT EXPENDITURE 108 6,084 6,084 OF FINANCE DIVISION
OTHER DEVELOPMENT 109 220,456 220,456 EXPENDITURE
DEVELOPMENT EXPENDITURE 110 17,696 17,696 OF REVENUE DIVISION
DEVELOPMENT EXPENDITURE 111 104 104 OF HUMAN RIGHTS DIVISION
DEVELOPMENT EXPENDITURE
112 OF INFORMATION & 1,075 1,075
BROADCASTING DIVISION
DEVELOPMENT EXPENDITURE
INFORMATION TECHNOLOGY 113 28,929 28,929 & TELECOMMUNICATION
DIVISION
DEVELOPMENT EXPENDITURE 114 9,070 9,070 OF INTERIOR DIVISIONPage 41
DEVELOPMENT EXPENDITURE
115 OF INTERPROVINCIAL 3,650 3,650
COORDINATION DIVISION
DEVELOPMENT EXPENDITURE116 1,230 1,230 OF LAW & JUSTICE DIVISION
DEVELOPMENT EXPENDITURE
117 OF NORCOTICS CONTROL 170 170
DIVISION
DEVELOPMENT EXPENDITURE
118 OF NATIONAL FOOD SECURITY 41,250 41,250
AND RESEARCH DIVISION
DEVELOPMENT EXPENDITURE
OF NATIONAL HEALTH119 27,000 27,000 SERVICES, REGULATION AND
COORD. DIVISION
DEVELOPMENT EXPENDITURE
OF PLANNING, DEVELOPMENT120 64,015 64,015 AND SPECIAL INITIATIVES
DIVISION
Contd…...Page 42
(Rs. in million)
Budget Estimates 2024-25Demand Ministries / Divisions No. Charged Voted Total
DEVELOPMENT EXPENDITURE
121 OF SCIENCE & TECHNOLOGY 7,150 7,150
DIVISION
DEVELOPMENT EXPENIDTURE
122 OF STATES AND FRONTIER 1,434 1,434
REGIONS DIVISION
DEVELOPMENT EXPENDITURE
123 OF WATER RESOURCES 259,598 259,598
DIVISION
CAPITAL OUTLAY ON
124 DEVELOPMENT OF ATOMIC 25,000 25,000
ENERGY
CAPITAL OUTLAY ON
DEVELOPMENT OF PAKISTAN 125 256 256 NUCLEAR REGULATORY
AUTHORITY
CAPITAL OUTLAY ON PETROLEUM 126 3,226 3,226
DIVISION
CAPITAL OUTLAY ON FEDERAL 127 324 324 INVESTMENTS
DEVELOPMENT LOANS AND
128 ADVANCES BY THE FEDERAL 206,911 206,911
GOVERNMENT
EXTERNAL DEVELOPMENT
129 LOANS AND ADVANCES BY 617,000 128,318 745,318
THE FEDERAL GOVERNMENT
CAPITAL OUTLAY ON CIVIL 130 28,188 28,188 WORKS
CAPITAL OUTLAY ON 131 4,919 4,919 INDUSTRIAL DEVELOPMENT
CAPITAL OUTLAY ON 132 5,300 5,300 MARITIME AFFAIRS DIVISIONPage 43
CAPITAL OUTLAY ON RAILWAY133 45,000 45,000 DIVISION
STAFF HOUSEHOLD &
ALLOWANCES OF THE 863 863
PRESIDENT(PUBLIC)
STAFF HOUSEHOLD &
ALLOWANCES OF THE 1,418 1,418
PRESIDENT(PERSONAL)
SERVICING OF FOREIGN DEBT 1,038,602 1,038,602
FOREIGN LOANS REPAYMENT 4,989,963 4,989,963
REPAYMENT OF SHORT TERM 29,500 29,500 FOREIGN CREDITS
AUDIT 8,639 8,639
SERVICING OF DOMESTIC 8,736,398 8,736,398 DEBT
19,050,034
REPAYMENT OF DOMESTIC DEBT 19,050,034
SUPREME COURT 4,402 4,402
ISLAMABAD HIGH COURT 1,874 1,874
ELECTION 9,635 9,635
FEDERAL OMBUDSMAN
SECRETARIAT FOR
PROTECTION AGAINST 184 184
HARRASMENT OF WOMEN AT
WORK PLACE
WAFAQI MOHTASIB 1,527 1,527
FEDERAL TAX OMBUDSMAN 430 430
TOTAL 34,555,572 8,883,292 43,438,864Page 44
STATEMENT OF OBJECT CLASSIFICATION WISE EXPENDITURE
Rs. In million
Budget Revised Budget
Object
Description Estimates Estimates Estimates
Code
2023-24 2023-24 2024-25
A01 Total Employees Related Expenses 1,168,346 1,183,300 1,358,788
A011 Pay 215,488 213,624 221,808
A011-1 Pay of Officer 71,148 69,722 74,470
A011-2 Pay of Other Staff 144,340 143,901 147,339
A012 Allowances 952,858 969,676 1,136,980
A012-1 Regular Allowances 916,400 928,115 1,098,332
A012-2 Other Allowances (Excluding TA) 36,458 41,561 38,648
A02 Project Pre-investment Analysis 3,713 1,898 3,251
A03 Operating Expenses 1,209,416 1,214,583 1,500,606
A04 Employees Retirement Benefits 806,075 807,040 1,022,974
A05 Grants, Subsidies & Write off Loans 2,764,835 2,186,512 3,475,111
A06 Transfers 13,279 33,495 20,764
A07 Interest Payment 7,302,534 8,286,549 9,775,005
A08 Loans and Advances 923,916 993,761 1,141,620
A09 Physical Assets 497,421 498,685 633,417
A10 Principal Repayments of Loans 33,342,817 26,519,052 24,069,508
A11 Investments 141,434 450,709 91,364
A12 Civil Works 272,792 318,520 329,120
A13 Repairs and Maintenance 12,860 12,973 17,336
TOTAL EXPENDITURE 48,459,437 42,507,076 43,438,864Page 45
Government of Pakistan
Finance Division
(Debt Management Office)
Subject : STATEMENT OF CONTINGENT LIABILITIES OF THE FEDERAL GOVERNMENT
Contingent liabilities of Pakistan are primarily guarantees issued on behalf of
Public Sector Enterprises (PSEs). The sovereign guarantee is normally extended to
improve financial viability of projects or activities undertaken by the government
entities with significant social and economic benefits. It allows public sector companies to
borrow money at lower costs or on more favourable terms and in some cases
allows to fulfil the requirement where sovereign guarantee is aprecondition for
concessional loans from bilateral/multilateral agencies to sub-sovereign borrowers.
2. The volume of new government guarantees issued during a financial year
is limited under Fiscal Responsibility and Debt Limitation Act which stipulates that
the government shall not give guarantees aggregating to an amount exceeding two
percent of the GDP in any financial year including those for rupee lending, rate of
return, outright purchase agreements and other claims and commitments provided the
renewal of existing guarantees shall be considered as issuing a new guarantee.
3. During Jul-Mar FY24, the government remained within the FRDL Act limit
for issuance of new/rollover of GoP Guarantees which stood at 0.1% of GDP.Total
executed guarantees were Rs 3,685 billion while outstanding stock was Rs 3,505
billion at end March2024as per the following details:
Table-1: Summary of Outstanding Government Guarantees (All
figures are Rs in billion unless otherwise stated)
Outstanding Total
Guarantees Guarantees
Domestic 1,540 1,707
External 1,965 1,978
Total 3,505 3,685
Memo:
External (US$ in million) 6,971 7,017
Exchange Rate (Pak Rupee/US Dollar) 278 278Page 46
4. Sector-Wise, Entity Wise and interest rate wise share of the guarantees at
end March 2024are as follows:
Table 2: Outstanding Position of GoP Guarantees
Rsin billion % Age
Sector Wise Breakup
Total Outstanding Stock 3,505 100%
- Power Sector 2,457 70%
- Aviation 247 7%
- Manufacturing& Mining 110 3%
- Financial 108 3%
- Oil & Gas 111 3%
- Others 472 13%
Entity Wise Breakup
Total Outstanding Stock 3,505 100%
- PAEC 1,397 40%
- PHL 765 22%
- PIACL 247 7%
- Sindh Engro 81 2%
- NTDC 59 2%
- Others 955 27%
Interest Rate Type
Total Outstanding Stock 3,505 100%
45%- Floating Rate 1,582
55%- Fixed Rate 1,923
Note: The original maturities of major portion of Guaranteed Debt Stock were 5 years and abovePage 47
5. Presently, Guarantees issued against commodity operations are not
included in the above table. These guarantees issued against the commodity
financing operations undertaken by TCP, PASSCO, and provincial governments.
The outstanding stock of commodity operations was Rs 1,133 billion at end March
2024.
6. The estimates of guarantees to be issued from April 2024 till June 2025
are as follows:
Table 3: Estimated Guarantees Issuance and Position (Q4 FY 24 and FY 25) (Rs in billion)
A Opening Guaranteed Debt Position (31-03-2024) 3,685
B New Guarantees to be Issued (Q4 FY 24 & FY25) 711
- REKO DIQ 230
- C-5 143
- PPP 106
- PSO 100
- SNGPL 50
- PIAIL 40
- Exim Bank 10
- PIACL 6
- NAVTTC 1
- Misc/Contingencies 25
C Estimated Repayments against Existing Guaranteed Loans 308
D=B-C Net Issuance of Guarantees (Q4 FY 23& FY24) 403
A+D Estimated Closing Guaranteed Debt Position (30-06-2025) 4,088
Note
(i) Expected external guarantees are converted intoPKR at exchange rate of 295/USD
(ii) The estimates are developed based on requests received so far from different PSEs and issuing wings
during the ongoing Fiscal Year
(iii) The guarantees of which LoCs have already been issued before March 2024are incorporated in
Opening Guaranteed Debt Position as at End March 2024
(Iv) The above table excludes Guaranteed Debt Position and expected guarantees for commodity
operations.Page 48
STATEMENT OF FISCAL RISKS 1. Fiscal risks may lead to potential threats or uncertainty in fiscal forecasts presented in the Medium-Term Budgetary Statement, as defined in section 5 of the Fiscal Responsibility and Debt Limitation (FRDL) Act 2005. 2. Higher Interest Rate: Any increase in the interest rate on external and domestic debt can lead to a rise in federal expenditures and subsequently, the federal fiscal deficit and total debt of the government. If this possibility is realized, the overall effect will be substantial without additional measures. 3. Lower Non-Tax Revenue Collection: A significant reduction in non-tax revenue collections leads to a substantial decrease in net federal revenue and a consequent increase in fiscal deficit. Additionally, the higher deficits contribute to an increase in debt stock over the forecasted period. 4. Higher Subsidies: An increase in subsidies leads to an increase in expenditure, the effect on fiscal deficits and debt stock is relatively limited. Higher subsidies support the targeted sectors or programs but may also strain government finances if not accompanied by corresponding revenue measures or expenditure controls. 5. Combination of the first three Scenarios: This scenario demonstrates the most significant impact on fiscal variables across the board. The combination of reduced revenues, increased expenditure on subsidies, and potential financing needs due to higher interest rates leads to substantial fiscal deficit and higher debt stock. It underscores the interconnectedness of fiscal policy and the need for comprehensive approaches to address fiscal challenges. 6. Lower GDP Growth: This involves lowering the projected GDP growth rate by a quarter (in each fiscal year). While this scenario does not directly affect fiscal policy measures, it has implications for revenue generation and expenditure planning. The lower GDP growth rate leads to a decrease in net federal revenue due to subdued economic activity. Consequently, there is pressure on fiscal deficit and debt accumulation, as the government may need to maintain or increase expenditures to stimulate growth amid lower economic performance. 7. Exchange Rate Depreciation: More-than-expected depreciation of the Pakistani Rupee can significantly impact fiscal sustainability by increasing the cost of servicing external debt, as repayments and interest on foreign-denominated loans become more expensive in local currency terms. Additionally, a weaker rupee can lead to higher import costs, fueling inflation and putting pressure on public expenditure, particularly if subsidies on essential goods like fuel and food are in place. The combined effect of these factors can lead to a higher fiscal deficit and an increased debt burden, exacerbating fiscal vulnerabilities. Moreover, the depreciation could undermine investors’ confidence, leading to capital outflows and further currency depreciation, creating a vicious cycle of financial instability. 7. Climate change and natural disasters pose increasingly significant threats to global economic stability and fiscal sustainability. As these phenomena intensify, governments, worldwide, are compelled to reevaluate their fiscal strategies for managing the associated risks
Page 49
effectively. Despite being an almost negligible contributor to global warming, the costs of climate change to Pakistan are substantial and continuously increasing as the country faces severe economic challenges. The accelerated impacts of climate change have added a new layer of pressure on the economy, including the exogenous shock of severe climate disasters, which in 2022 exerted significant losses on GDP. Rising inflation, high indebtedness, low growth, currency depreciation, and depleted foreign currency reserves have added to the scale and multitude of challenges. 8. Stringent climate change mitigation can significantly raise government expenditures and resultantly, the federal fiscal deficit. However, it will also yield economic and climate benefits in the medium and long term, restricting the average degree temperature to increase significantly. As such, it is critical to highlight that climate change is a long-term phenomenon, requiring climate justice by the international community to join hands with Pakistan to make joint efforts for climate change mitigation. 9. Under no or lower efforts to climate change mitigation, the loss in GDP will be greater than the stringent mitigation scenario. On the fiscal side, the decreased revenue collections due to less economic activity and lower productivity may yield a higher fiscal deficit. Furthermore, climate change mitigation along with efforts for more revenue collections are more promising in the long term for fiscal sustainability in line with the baseline scenario. 10. Natural disasters can significantly challenge fiscal sustainability. The 2022 floods have shown Pakistan’s high vulnerability to climate change as the disaster has demonstrated vulnerability for the people of the country. Establishing a Natural Disaster Fund (NDF) can help to mitigate fiscal deficit, at least to some extent. Furthermore, including improved tax collections alongside NDF in certain instances shows promise in alleviating fiscal risks, resulting in slight improvements in deficit levels. 11. Pakistan’s State-Owned Enterprises (SOEs) are pivotal for socio-economic development by providing essential goods and services to the public in areas where private sector investment was hindered due to various factors, such as significant capital requirements, limited profitability, trade restrictions, market size constraints, and a lack of competitive market dynamics. However, the financing requirements of SOEs and the interplay between the Government of Pakistan and its SOEs render fiscal accounts at risk. Severe weather conditions due to climate change led to shifts in water availability and energy generation, while major precipitation events, extreme temperatures, and wildfires disrupted transportation infrastructure and transmission systems. SOEs like GENCOs, WAPDA, DISCOs, and other power sector entities face significant exposure. Such risks include those associated with hydropower and thermal power plants, as well as transmission and infrastructure risks. 12. Under Public Private Partnership, there is only one project, Sialkot - Kharian Motorway, which has a VGF of only PKR 10.94 billion and is in the construction phase. Moreover, there is no liability on the part of the government under this PPP project that can be materialized as a consequence of any climate change-related event. However, there is a valid sovereign guarantee of PKR 6.9 billion, which has been issued against the operational VGF of this project. The guarantee
Page 50
will expire on the completion of the debt service period, which is 10 years starting after 2 years of
construction period.
Mitigation Measures
• Stable macroeconomic policies prevent excessive exchange rate fluctuations and attract
long-term investments, contributing to overall economic resilience and minimizing fiscal risk.
• Accumulating foreign exchange reserves provides a financial cushion against exchange
rate volatility. During periods of economic stability and favourable trade balance, the
government can build foreign currency reserves and manage these reserves through
investments in safe and liquid assets.
• Developing policies that support export-driven sectors increases foreign currency earnings
and improves the trade balance. A stronger export sector enhances foreign exchange
inflows, reducing pressure on the domestic currency and helping to stabilize it.
• Creating a conducive environment for FDI boosts foreign currency inflows and supports
economic growth. Ensuring political and economic stability, improving ease of doing
business, offering tax incentives, and protecting investors' rights are key strategies for
attracting FDI.
• By supporting sectors that are less vulnerable to climate impacts and promoting new
industries that contribute to a greener economy, the fiscal base becomes more robust and
less susceptible to climate-related disruptions. Investments in research and development
for sustainable technologies can also spur economic growth, create jobs, and reduce
dependency on sectors prone to climate risks.
• Diversifying energy sources by accelerating the transition to renewable energy can reduce
dependency on imported fuels and mitigate exchange rate and price volatility risks.
• Implementing energy efficiency measures can help to control overall demand and capacity
charges. Utilizing financial instruments to hedge fuel prices and exchange rate volatility can
provide more predictable cost structures.
• Strengthening regulatory frameworks and incentives for private sector investment in
renewable energy is crucial to reducing the fiscal burden and ensuring sustainable energy
development.
• Ensuring priorities in investment on climate resilient infrastructure is critical, making
structures such that they survive natural disasters. This means that roads to be constructed
should meet improved drainage levels, use better materials, and better engineering designs
and principles to remain resilient.
• Measures such as early warning flood control measures should be taken proactively to
reduce the extent of the problems so that rehabilitation costs may decrease in the long run.Page 51
STATEMENT OF ESTIMATED TAX EXPENDITURE
Section 8 of the Public Finance Management Act, 2019 provides
that the Federal Government shall, in respect of every financial year cause
to be laid before the National Assembly, Finance Bill consistent with
Article 73 of the Constitution including a statement of estimated tax
expenditure of the Federal Government.
2. A Tax Expenditure Report 2024 providing the details of tax
expenditure in FY 2024- 25 which involves tax expenditure in Sales Tax of
Rs. 2,858.721 billion, a tax expenditure in Income Tax of Rs. 476.960
billion, and tax expenditure in Customs Duty of Rs. 543.521 billion,
arriving at a total estimated tax expenditure of Rs. 3,879.202 billion is
being laid before the Parliament.
(Malik Amjed Zubair Tiwana)
Chairman FBR
Dated: 12th June, 2024Page 52
Medium-Term Budgetary Statement
(2024-25 TO 2026-27)
The Federal Government includes Medium-Term Budgetary Statement, consistent with
the principles of sound fiscal and debt management, in the Annual Budget Statement to
be laid before the National Assembly each year as per requirement under section 5 of
the Fiscal Responsibility & Debt Limitation Act, 2005.
2. Pakistan’s economy witnessed a moderate recovery in FY2024which laid a
foundation for further strengthening the growth prospects in FY2025 and over the
medium term.The government has been able to stabilize the economy through various
short-term policy measures and initiate the long-term sustainable growth agenda.
3. The growth trend in tax collection is indicative of improving economic conditions,
gradual recovery in business activities, and effective enforcement measures.
Consequently, the revenue landscape presents a promising outlook. On the other hand,
higher markup payments are putting significant pressure on expenditure. However, the
government's persistent efforts to curtail non-markup expenditures through austerity
measures have facilitated a continuous improvement in primary surplus in FY2023-24.
4. Resource mobilization and increasing revenues to an optimum level over medium-
term is a critical challenge to meet escalating expenditures. Government is focusing all
its efforts to optimize tax collection through robust measures such as revamping of FBR,
supporting digitization and IT base solutions, removing Tax distortions and
implementing tax regulation effectively. Similarly, realizing the importance of non-tax
revenues (NTR), the Government is exploring all avenues to increase inflows and has
been able to achieve its NTR targets in FY 2023-24. Going forward, government is
committed to maintain this growth.Page 53
5. On the expenditure side, the Government is ensuring the support to the social sector development through health, education, youth and gender sensitive allocations. For social inclusion and pro-poor interventions, spending on BISP, Pakistan Bait-ul-Mal and Utility Stores Corporations have been increased exponentially. At the same time, austerity measures will remain in place for rationalization of non-essential spending.Stable financial growth and maintaining fiscal discipline over medium-term will ensure the Government's to create a balance between providing relief to the common man and meet other essential expenditures. The development portfolio of the Government has been increased which will ensure the sustainable development over medium term.
Page 54
Climate Budget Statement The daunting challenge of climate change posing socioeconomic risks to Pakistan demands urgent attention. The federal government is cognizant of macro-fiscal implication of climate change and looking forward to bring economic diversification to strengthen fiscal resilience by focusing on greener economy through introducing climate resilience infrastructure and new industries. Therefore, federal government has adopted climate budget as a governance system to mainstream the climate considerations into policy decision making. The green budgeting will enable government in prioritizing climate by integrating it into budgeting process and fixing responsibility for implementation, monitoring, evaluation and reporting across the line ministries and departments. Ministry of Finance has taken the major initiative of tagging climate-sensitive budgetary and expenditure data based on the National Climate Change Policy. Through a consultative process involving all stakeholders, more than of 5000 cost centers of the Federal Government under three major classifications (adaptation, mitigation, and other supporting areas) and forty minor sub- classifications have been tagged successfully. These interventions will allow the Federal Government to make targeted allocations to respond climate change risks. The Budget Tagging exercise this year focused on three types of data, BE 2023-24, RE 2023-24, and BE 2024-25. The BE 2023-24 has indicated allocation of 8.1% and 15.7% of the Running of Civil Government (ROCG) and Public Sector Development Programme (PSDP) respectively on climate sensitive areas. According to the RE 2023-24, the government was only able to spend 7.7% of the ROCG and but spent substantially more (19.3%) as percentage of the PSDP, in comparison with the original target, on climate sensitive areas. For the next FY 2024-25 in which ROCG and PSDP are substantially bigger, the government has allocated funds to tackle climate change as 7.7% of the ROCG and 15.3% of the PSDP will be spent on climate sensitive areas. In the medium term, the government plans to ensure that climate sensitive budget does not falls below 8% of the ROCG and 16% of the PSDP over medium term.
Page 55
Gender budget Statement The Article 25 states Constitution of Pakistan, 1973 provides that there will be no gender discrimination while, Article 35 directs the state to ensure full participation of women in all spheres of national life. However, despite major improvements, gender inequality is a cause of concern in Pakistan. Domestic and international data and indices suggest the wide gap between Pakistani men and women in terms of education, health, employment and economic opportunities etc.Pakistan’s economic development will remain halted without closing the gender gap considering the women constituting the 50% of population of this country. As the Government of Pakistan works to reduce gender inequality and provision of equal rights to all citizens, one of the major impediments is the lack of gender- disaggregated data. As a first step, the government is trying to identifygender disaggregated on public expenditure. The federal government segregated gender sensitive budgets and expenditures of all ministries, divisions and departments, thereby, allowing policymakers to have a better insight on gender responsive policies and strategies. The public expenditure ofmore than 5000cost centers of the federal budget has been segregated under six major gender classifications (equality & quality of education, health & well-being, governance & data systems, employment & economic opportunity, safety & security, and agency, political participation & meaningful engagement).This major development will assist in effectively and efficiently spending meagre financial resources to tackle gender inequality. The Budget Tagging exercise this year focused on three types of data, budget estimates budget estimates (BE) financial year (FY) 2023-24, revised estimates (RE) FY 2023-24, and BE FY 2024- 25. The BE 2023-24 has indicated allocation of 10.1% and 9.5% of the Running of Civil Government (ROCG) and Public Sector Development Programme (PSDP) respectively on gender sensitive areas. According to the RE 2023-24, the government was able increase the spending to 11.3% of the ROCG and 10.1% of the PSDP on gender sensitive areas. For the next FY, 2024-25 in which ROCG and PSDP are substantially bigger, the government has allocated 9.8% of the ROCG and 7.4% of the PSDP to gender sensitive areas.
Page 56
Disaster Budget Statement Disaster risk is a combination of extreme natural events and vulnerability. Due to its diverse geographyand climate change, Pakistan is prone to a large number of extreme natural disaster triggered by natural hazards. According to World Risk Report 2023, Pakistan has been ranked as the 11th highest disaster risk prone worldwide. The Government of Pakistan is aware of the high disaster risk and has passed laws, instituted disaster management authorities at the federal and provincial levels, and established disaster fundsto manage and mitigate the risk. However, data onpublic expenditure on disaster preparedness, recovery, and rehabilitation was not available in past. Each year, the Federal Government budgets and spends millions of rupees in diverse areas to deal with disasters. Tagging and tracking this expenditure is necessary for evidence-based policy-making and accountability. In 2024, the federal government decided to tag more than 5000 cost centers on four major disaster classifications (preparedness, response, recovery & rehabilitation, and reconstruction) through a consultative process. All ministries and divisions of the Federal Government have participated in the tagging of their respective cost centers, increasing this exercise’s outreach, transparency, and ownership. This tagging and tracking of budget and expenditure on disaster sensitive areas will assist the Federal Government in effectively mitigating risk and managing disasters. The Budget Tagging exercise this year focused on three types of data, BE 2023-24, RE 2023-24, and BE 2024-25. The BE 2023-24 has indicated allocation of 4.5% and 1.9% of the Running of Civil Government (ROCG) and Public Sector Development Programme (PSDP) respectively on disaster sensitive areas. According to the RE 2023-24, the government was able to spend 4.4% of the ROCG and 1.9% of the PSDP on disaster sensitive areas. For the next FY 2024-25 in which ROCG and PSDP are substantially bigger, the government allocated 4.3% of the ROCG and 1.8% of the PSDP to disaster sensitive areas.
Page 57
EMPLOYEES RELATED DATA AND IMPLEMENTATION OF
ORGANIZATIONAL MANAGEMENT MODULE
Human Resource Data in the domain of public administration provides valuable
insights on a government’s workforce composition and on the government’s ability to recruit,
retain and manage its human resource capital. From fiscal point of view Human Resource
information serves as an important decision-making tool to help Government rationalize
its allocation of resources more efficiently and economically in its employees related data.
In the Budget Call Circular (2024-25) a serious attempt has been made to compile
federal government employees’ data, with vacancy positions, and redundant posts
separately for bringing greater visibility to the size of the Federal Government employees
with specific emphasis on identification of posts that have remained vacant for more than
three (03)years. The exercise intends to assess the financial liability involved in the
continuation of redundant posts and to rationalize the size of the governments in terms of
allocation of funds and resources on to the current side of expenditure.Besides conversion
of employees related data on Organizational Management (OM) Module has been
intensely pursued to stop manual input of data in the system, eliminating the risk for errors
through creation of an Employee Record Management database for better management
and administer salary plans and process annual pay raise.In this way OM Module is the most
critical feature in maintaining personal information of Employees, by processing payroll
entries more efficient to generate salary slips, to deduct taxes from employee payroll while
strengthening the government’s working through automated work flows.Page 58
Government of Pakistan
Finance Division
STATEMENT OF RESPONSIBILITY
Stated that all policy decisions with material economic or fiscal implications that the
Federal Government has made before 12th June 2024, the day on which the contents of the
economic policy statements were finalized and all other circumstances with material economic
or fiscal implications of which I was aware before that day, have been communicated to the
Secretary of Finance in terms of Section 10(1)(a) of Fiscal Responsibility and Debt Limitation Act,
2005.
The statement to the best of my knowledge provides
for: -
a) the integrity of the disclosures contained in the economic policy
statement;
the consistency with requirements of the Act of the information contained b)
in the economic policy statements; and
the omission from the economic policy statement of any decision or c)
circumstance specified in sub-section (3) of section 8 of the Act.
(Muhammad Aurangzeb)
Minister for Finance and RevenuePage 59
Government of Pakistan
Finance Division
STATEMENT OF RESPONSIBILITY
Stated that the Finance Division, in terms of Section 10(1)(b) of Fiscal Responsibility and
Debt Limitation Act, 2005, has supplied to the Minister for Finance and Revenue, using its
best professional judgment on the basis of economic and fiscal information available to it
before 12th June 2024, the day on which the contents of the economic policy statements
were finalized, an economic and fiscal statement incorporating the fiscal and economic
implications of those decisions and circumstances, but any decisions or circumstances that the
Minister for Finance and Revenue has determined under Sub-section (3) of Section 8 of the
Fiscal Responsibility and Debt Limitation Act 2005 have not been incorporated in the
statement.
IMDAD ULLAH BOSAL
Finance Division,
Secretary to the Government of Pakistan
Islamabad, the 12th June, 2024