Pak Economy

The Khyber Pakhtunkhwa government on Monday announced a Rs488 billion budget for FY2015-16 in the KP Assembly today.

The budget, which is referred to as ‘poor-friendly’ by KP Finance Minister Muzafar Said, allocated a greater portion of funds to health and education.

Total outlay for the FY15-16 budget is 21 per cent greater than that of the outgoing fiscal year.Read More »Highlights of KPK Budget 2015-16

• Ten per cent relief allowance has also been announced on basic pay for all Sindh government employees.
• The revised estimates for the total receipts of the province for the current financial year are Rs617 billion.
• Developmental expenditure of the province is estimated at Rs214 billion. This includes a provincial Annual Development Programme (ADP) of Rs162 billion.
• The estimated current revenue expenditure of the province is at Rs503.34 billion.
• With a 10-15 per cent increase, the allocation for education sector has been tipped to go up to Rs133-Rs144 billion.
• Health sector is expected to get an allocation of Rs53 billion.
• Rs106 billion in the education budget has reportedly been earmarked under the non-development head.
• 503 billion are being allocated for education secretariat and Rs2 billion for unforeseen expenditure.
• Rs65 billion is being earmarked for law and order with allocation for the police to be at Rs60 billion and the Sindh Rangers at Rs2.44 billion. The Frontier Constabulary will get Rs1 billion in addition to Rs5 billion meant for procuring modern weapons.
• Annual Development Programme is estimated to be at Rs200 billion to complete the 2,370 ongoing schemes and execute 590 new schemes.

Read More »Highlights of Sindh Budget 2015-16

The Punjab government on Friday presented a Rs 1,447.2 billion proposed annual budget for the fiscal year 2015-16 before the provincial Assembly on Friday.

According to details of the budget read out by the provincial finance minister, the provincial government is eyeing a revenue target of Rs160bn from provincial taxes and other sources.Read More »Highlights of Punjab Budget 2015-16

*Rs 253 billion new taxes imposed in budget for 2015-16*Rs 120 billion exemptions given under different SROs in customs, sales and income tax withdrawn

Presenting the budget, Finance Minister Ishaq said total resources have been estimated at Rs 4.168 trillion and the government has to bear the deficit of Rs 1.328 trillion despite imposing new taxes of Rs 253 billion during the next fiscal year. He said an estimate for the current expenditures during the next fiscal year is Rs 3.128 trillion while the revised estimates for the outgoing fiscal year are Rs 3.151 trillion. The deficit is likely to stay at 4.3% of the GDP for the coming financial year, down from 5% in 2014-15.Read More »Pakistan budget 15-16 focuses on taxation

حکومت کی جانب سے یکم جولائی سے شروع ہونے والے نئے مالی سال 16-2015 کے لیے تقریباً 43 کھرب روپے کا وفاقی بجٹ قومی اسمبلی میں پیش کیا جا رہا ہے۔

وفاقی وزیرخزانہ اسحاق ڈار اسپیکر ایاز صادق کی زیرصدارت جاری قومی اسمبلی کے اجلاس میں آئندہ مالی سال کا بجٹ پیش کياRead More »پاکستان بجٹ – 16-2015

Finance Minister Ishaq Dar while presenting the budget for fiscal year 2015-16 on the floor of the National Assembly said a growth rate target of 5.5pc had been set for the upcoming year, which he… Read More »Highlights of Pakistan Budget 2015-16

GDP grows by 4.24% in fiscal year 2014-15 against a target of 5%

* LSM sector registers growth of 2.38% against a target of 7% * Industrial sector grows by 3.62%

 Majority of the economic targets set for fiscal year 2014-15 were missed, including the Gross Domestic Product (GDP) which grew by 4.24% against a target of 5%, according to the Pakistan Economic Survey Report 2014-15 released on Thursday.Read More »Pakistan Economic Survey: Higher growth but missed targets

Pakistani Finance Minister Ishaq Dar said on Thursday that country’s foreign exchange reserves will cross $18.2 billion by end-2015, and from July 1, Computerised National Identity Card (CNIC) number will be treated as National Tax Number (NTN) for individuals.

The minister, who was addressing members of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), categorically stated that the government’s focused approach would continue to transform the recently achieved macro-economic stabilisation into economic growth.Read More »CNIC number to replace NTN

Following a series of consultative seminars, the Lahore Vision-2035 document was presented at a ceremony held here on Saturday, envisioning sustainable development for the Punjab capital that is people-centric, environment-friendly, equitable and inclusive.

The United States Agency for International Development (USAID), the Centre for Public Policy and Governance (CPPG) of Forman Christian College and the Punjab government’s Urban Unit collaborated in holding the series of seminars to develop the document.Read More »Lahore Vision-2035 document presented

By Dr. Muhammad Yaqub

The PML-N government proclaimed, in the words of its finance minister in his first budget speech on June 12, 2013, that it “is inheriting a broken economy” requiring a “comprehensive agenda of reforms” for its turn around. In the same speech, he also made a “declaration of our intent to fulfil all promises that we made to the nation” during the election.

The PML-N promised to break the begging and borrowing bowl and achieve self-reliance, and improve rates of investment and growth and create employment opportunities. Assurances were given that a clean and lean government would be run, and the palatial prime minister house and similar other lavish official residencies would not be used – to save taxpayers’ money and set personal examples of austere living. It was promised loadshedding would be managed better, laws obeyed universally, accountability enforced vigorously and all key appointments made on strict merit to ensure good governance.Read More »Performance vs promises