Khawaja Muhammad Asif, the minister of defense, the federal government has not yet determined the defense budget for the upcoming fiscal year 2023–2024.
Defense budget not finalized yet Khawaja Asif: The federal minister added that because the administration hasn’t decided on the defense budget for the upcoming fiscal year, consultations are already starting in an informal talk with journalists outside Parliament House.
Khawaja Muhammad Asif said they would make accurate allocations in all areas of the forthcoming budget to prevent excessive spending.
While opposing direct subsidies, he pointed out that the government was taking action to provide targeted subsidies to the country experiencing high inflation.
It is important to note that the federal cabinet has already approved the budget and will present it to the National Assembly on June 9th.
The economic team gave these comments as they briefed Prime Minister Shehbaz Sharif on the budget planning for the years 2023-2024.
The PM received a briefing on updated income, expense, and target projections for the upcoming year. During the meeting, the speakers informed the attendees that the economy had exhibited a positive trajectory toward achieving financial stability and reducing the deficit.
Prime Minister Shehbaz Sharif emphasizes using all available resources to help the middle class and alleviate financial hardships.