Federal cabinet decides to present budget on June 11

ISLAMABAD (92 News) – The federal cabinet has decided on Tuesday that the federal budget is set to be presented on June 11. Prime Minister’s Special Assistant on Information Firdous Ashiq Awan informed Tuesday said while addressing a press conference after the meeting. PM Imran Khan presided over a meeting of the federal cabinet to discuss the eight-point agenda. During the meeting, the strategy paper of budget 2019-20 presented to the federal cabinet. She said that the forthcoming budget, for the fiscal year 2019-20, will focus upon improving Pakistan's economy as well as foreign debt. “Further, one of the matters deliberated upon was that the common man not be impacted by the budget,” she added. The special assistant also noted that initial documents pertaining to the budget were pondered upon.

Rs3.28 trillion proposed for provinces

Earlier, it was reported that the federal budget proposed Rs3.28 trillion for the provinces, indicating an excess worth Rs0.7 trillion as opposed to the corresponding period.

Federal cabinet approves Kamyab Jawan Program

On May 21, the Federal Cabinet had approved Kamyab Jawan Program to economically empower youth. This was announced during a press briefing by Prime Minister’s Special Assistant on Information and Broadcasting Dr Firdous Ashiq Awan after the federal cabinet meeting in Islamabad.

Youth can get loan from 100,000 to 5 million rupees

Fridous Ashiq Awan said under the program, a youth can get loan from 100,000 to five million rupees in two categories. She said under the first category banks will provide loan upto 500,000 rupees at six per cent mark-up with lending equity of 10 per cent of the amount applied. Under the second category, an applicant can get loan up to five million rupees at a mark-up of eight per cent and equity ratio of 20 per cent, she added.

25% of loan will be granted to women

The special assistant said that 25 per cent of the loan will be granted to women to make youth self-employee to control inflation and joblessness. She said Minister for Federal Education and Professional Training gave a detailed and comprehensive briefing on new education policy. She said the policy will be developed under the mandate of the federal government and necessary assistance and facilitation will be provided to provinces for its implementation.