Pakistan News / Islamabad News : Budget 2012-13 -The Federal Cabinet has granted approval to the proposals for the Federal Budget 2012-13 with a total outlay of Rs3.11 trillion.
Chairing the meeting, Prime Minister Syed Yusuf Raza Gilani signed the budget document after it was approved by the Cabinet.
According to sources, a proposal to raise the salaries of government employees by 20 percent was also approved besides increasing the tax exemption ceiling from Rs350,000 to Rs400,000.
Another proposal recommends a hike in prices of cigarettes.
Earlier, Finance Minister Dr. Hafeez Sheikh briefed the participants of the meeting about budget proposals to be presented in the parliament later today.