Jun 122008

* 20pc increase in basic pay for civil and defence personnel

* 20pc increase in net pension for civil and defence personnel

* Minimum pension up from Rs 300 to Rs 2,000

* 100pc increase in conveyance allowance for BPS 1-19

* Medical allowance up from Rs 425 to Rs 500 for BPS 1-16

* Increase in minimum wages to Rs 6,000/month from Rs 4,600/month

* Profit on NSS up by 2pc, rate revision now quarterly, instead of biannually

* Civil servants rendered unfit to work to get complete pension benefits

* Regularisation of contract employees from BPS 1-15

* Pay and Pension Commission to review emoluments of civil servants

* Customs duty on 1800cc cars and above increased to 100pc

* 5pc FED on import and supply of local cars with 850cc capacity

* Rs 500 customs duty on import of cellular phone

* Import duty on betel leaves up from Rs 150 kg to Rs 200 kg

* FED on telecom services up from 15pc to 21pc

* FED on banking, insurance and franchise service up from 5pc to 10pc

* FED on cement up from Rs 750 PMT to Rs 900 PMT

* Levy of minimum tax @ 0.5 pc abolished

* Basic exemption up from Rs 150,000 to Rs 180,000

* Basic exemption for women up from Rs 200,000 to Rs 230,000

* Uniform tax rate of 2pc proposed for commercial, industrial importers

* Industrial, commercial consumers to pay advance tax @ 10pc on electricity bills exceeding Rs 20,000, adjustable against final tax liability

* Income on property tax now to have three brackets from 5pc to 15pc on different income slabs

* Housing developers and builders to pay Rs 100 per sq yard on developed plots, Rs 50 per sq ft on constructed property.

  One Response to “Pakistan Budget Highlights”

  1. very good budget

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