Following are important features of the Pakistan budget for Fiscal Year 2012-2013 Government employees salaries The government on Friday announced 15% increase in the pay of all government employees and the personnel of armed… Read More »Highlights of Pakistan Budget 2012-2013
Geo News report The government is expected to announce in the federal budget-2012-13 several reliefs in income tax, federal excise duty and sales tax on Friday evening. Besides providing relief in income tax, a uniform… Read More »Pakistan Budget 2012-2013: Income tax exemption limit raised by Rs50000
Agriculture sector posts 3.15 percent growth
The agriculture sector posted a growth of 3.1 percent during 20110-12 mainly due to positive growth in agriculture-related sub-sectors, except for the minor crops.
According to the Economic Survey of Pakistan 2011-12 on Thursday, major crops accounted for 31.9 percent of agriculture sector and experienced a growth of 3.2 percent in fiscal year 2011-12 as against the negative growth of 0.2 percent in 2011. The significant growth in major crops was contributed by rice, cotton and sugarcane by 27.7 percent, 18.6 percent and 4.9 percent, respectively.
Read More »Pakistan economic survey 2011-12
Investment in higher education in the country continues to reap dividends as according to QS World Universities Rankings 2012, five Pakistani universities have won a place in the list of top 300 universities in Asia.
Quacquarelli Symonds (QS) UK is the world’s most renowned and prestigious ranking agency.
National University of Science and Technology (NUST-108), Karachi University, AKU, Lahore University of Management Sciences and Lahore University are now in top 300 Asian universities.
It speaks volumes of the hard work put in by the management and faculty of these universities and consistent support of the Higher Education Commission (HEC).Read More »QS Ranking 2012: 5 Pakistani universities among 300 top Asian universities
* Analysts say miniscule tax revenues, mismanagement and overgenerous subsidies mean country faces major financial crisis
Miniscule tax revenues, mismanagement and overgenerous subsidies mean Pakistan is heading for a new financial crisis, say diplomats and analysts, with this week’s budget unlikely to offer any respite.
The budget deficit stood at 6.6 percent of GDP last year, according to the State Bank of Pakistan (SBP), which warned that government borrowing was crowding out the private sector from access to credit.Read More »Pakistan heading for new financial crisis