Webinar: Federal Budget 2021-2022

Budget for the fiscal year 2021-22 is around the corner. The new Finance Minister is expected to bring about new changes and make new announcement. He wants to negotiate on the Fund Program and also wants to encourage the new enterprises. In order to get expert opinion on the new developments in the coming budget, PIDE in collaboration with IPRI held a pre-budget webinar inviting four eminent economists to shed light on where we are and we are heading towards. Dr. Mahmood Khalid set the stage by sharing the key budgetary proposals in the Medium Term Budget Strategy (2021-24). • All the burden of austerity has been put on the revenue side, especially FBR in the coming budget. The revenue target is expected to increased by 27% for FY 2021-22 over the last year revised target. • From the expenditure side again federal government is to cut its current expenditures, mainly on domestic interest payment side. • The expenditure on the federal and provincial PSDP is expected to be almost the same as in the previous years. There are new projects as well as throw forwards in the PSDP leading to cost and time over run of projects. • Apart from this, certain fiscal benchmarks from the IMF have to be met as well specifically the reallocation of electricity subsidy burden towards the consumer.