Inflation to stick above 9 in next fiscal year

Inflation to stick above 9 in next fiscal year

The unbridled inflation Pakistan has been through do not seem ending even in the next fiscal year as according to the estimations recently shared by the government itself sees inflation to remain around 9.5 percent.

In an attempt to rescue the government employees from the phenomenon, the government is mulling over increasing their pays up to 20 per cent.

Financial year 2012-13 budget proposals are under consideration in the Federal Cabinet meeting here.

Finance ministry sources said that the federal budget for the next financial year is expected to sum up at Rs3000 billion as against the current year’s 2700 billion.

Sources further said that the revenue target is likely to be fixed at Rs2300 billion, while the GDP growth rate expected at 4.5 percent.

Besides, the allocation against the people’s welfare fund is likely to increase by Rs50 billion over the current year’s allocation. Federal development expenditures are estimated at Rs350 billion in the proposed budget-2012-13.

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Posted by Fayyaz Yaseen on Apr 12 2012. Filed under Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry