Explanation

Minster for Industries Hammad Azhar presented on Friday June 12, 2020 the federal budget for the fiscal year 2020 -21— referred to as the ‘corona-budget’ by Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh a day earlier while unveiling the economic survey for fiscal 2019-20. Among the major figures he revealed on the floor of the National Assembly, the Federal Board of Revenue (FBR) tax target was kept at Rs4.95 trillion for next year while defence allocations amounted to around Rs1.3 trillion. The federal development programme was budgeted at Rs650 billion to support growth prospects.