ISLAMABAD – Finance Minister Ishaq Dar is presenting the budget for fiscal year 2015-16 on the floor of National Assembly.
During budget speech in parliament, Ishaq Dar lays out reasons for missing the growth target in 2014-15— which include floods in September 2014 and political protests by Pakistan Tehrik-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) from August to December 2014.
The minister says fiscal deficit target of 5% for the year 2014-15 will be met by June 30, 2015.
Dar says funds allocated to the Benazir Income Support Programme (BISP) have increased to $102 billion for the upcoming fiscal year. He says 5 million families will be served under the BISP.
Dar also said that amount of Rs.248 billion have been allocated for energy sector, while Rs.30 billion have been reserved for Higher Education Commission (HEC).
Amount of Rs.39 billion have been allocated for two projects of China Pakistan Economic Corridor (CPEC), said Dar in budget speech.