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Featured Finance Minister Shaukat Tarin presents budget for FY2021-22

Enigma SIG

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Failed people's party finance minister is the new financial guru for dunkey raja's party. Let's see the reality after all the backslapping
What has zardaro done wrong that he also can't be included in people's party b team
Not content with Miftahs dicking around with the currency? PML N was balls deep in PPP under PDM umbrella not so long ago. Hell they just met in the chambers before the budget. No homo though.
 
Jan 16, 2021
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Not content with Miftahs dicking around with the currency? PML N was balls deep in PPP under PDM umbrella not so long ago. Hell they just met in the chambers before the budget. No homo though.
So they all become PTI ministers, great quip, the reality is starring everyone in the face
Failed? Are you referring to Ishaq Dollar policies that nearly bankrupted Pakistan 😂
You support People's party, as all the trash from there is with your trash.
Failed? Are you referring to Ishaq Dollar policies that nearly bankrupted Pakistan 😂
Your back from haifa
 

ghazi52

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BUDGET 2021-22:
Govt says no tax on data usage after Tarin’s speech



Kalbe Ali
June 12, 2021




ISLAMABAD: The budget for the upcoming fiscal year has proposed new duties on the internet and the telecom usage, not only inviting a backlash on social media but also creating confusion as the government denied the increase.

The finance bill has proposed that Re1 per call if the duration exceeds three minutes, Rs5 per GB for internet usage and 10 paisa on each SMS has been imposed, which will be in addition to the existing rates.

However, as the news reached the general public that taxes and duties have been enhanced on the consumers, users stormed social media with criticism of the government and many even tagged the prime minister at their tweets saying that the “Budget killed digital Pakistan initiative of the PM.”

After the strong criticism of the government for making internet usage, call and SMS costlier Minister for Energy Hammad Azhar denied that additional duties have been imposed on telecom and the data usage.

In his tweet the minister said, “The PM and Cabinet did not approve the FED levy on internet data usage. It will not be included in the final draft of the Finance Bill (budget) that is placed before parliament for approval.”


The information minister told Dawn that the increase mentioned in the budget document was an oversight, because the cabinet had not approved it. He made it clear that no tax has been imposed on data use.

However, many remained critical and concerned. In his tweet Amir Ibrahim, CEO Jazz, said that the additional levy on internet is detrimental to “Digital Pakistan” journey.

Howver, he praised Finance Minister Shaukat Tarin for reducing the FED, that has been reduced from 17 per cent to 16pc, which is the standard rate for all sectors.

Mr Tarin in his budget speech announced that the federal excise duty on the telecom sector has been rationalised.

Meanwhile, senior officials of telcos said that the telecom industry will give its reaction to budgetary measures on Saturday.

“The Covid-19 pandemic has forced the world to adopt a social distancing attitude and most of the activities including buying groceries, education and even medical checkups were shifting to online mode — increasing internet rates will be damaging for whole society,” a senior executive of a telecom company said.

Similar views were expressed by a senior official of an internet service provider (ISP) who said that Pakistan was already on the 90th position in the world for internet inclusion and second lowest in Asia.

“Now if the government wants Pakistan to be at the last spot, increasing duties and taxes at internet and mobile calls was justified,” the official said, adding that Pakistani consumers were already paying exorbitant rates for data usage mainly because of high taxes and duties.


Published in Dawn, June 12th, 2021
 

Ultima Reaper

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Views of a Pretty good economist who’s not biased.
In the last 2 decades Pak was known only for extremism, drone attacks and bombings, thanks to the mullah brigade and the corrupt losers of plmn and ppp. IK govt has shown the country the right direction alhamdulillah, today world is respecting pak, drone attacks have stopped, terrorism has been eliminated mostly except for balochistan and some tribal border areas, which need to be taken care of urgently. Business sentiment is growing, people world over are recognising pak for its scenic valleys..business opportunities..development agenda and non sectarian inclusive and progressive governance...hope IK last as PM for atleast next 25 years..inshallah..this will make pak an asian tiger and a regional power accompanying china...kudos to IK andhis pro people and development policies..best budget in a decade.
 

Mav3rick

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What was the total defense budget %(including pension etc) last year and years before that ??

Was it less than this proposed budget ??
The pension of the retired Military personnel is never made a part of the Military budget but rather is made a part of the Civilian Pension Budget which is misleading. When one wants to calculate how much we are actually spending on our Military, we need to take into account everything and only then can the true picture be revealed.
 
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The urgent need of the poeple are not satellites...but food on the plate...what has ganju done for suparco in last 20 years is the real question ?
During the previous PML Government's 5-year tenure (not 20), Pakistan launched/acquired the following satellites in space:

2013: iCUBE-1
2018: PakSat MM'I' (previously AsiaSat 4)
2018: PRSS-1
2018: PakTES-1 Alpha

During the current Pakistan Tehrik-e-Baqwas Government's tenure, the following satellites were supposed to be launched but SUPARCO's budget keeps vanishing after announcement:

2018: PakSat-MM'1'
2019: PNSS-1
20??: PakTES-1B
20??: iCUBE-2


Do try and use a functioning brain cell before attempting to ask a question.
 

ghazi52

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Government's tax rebates in the new budget!

Additional federal excise duty on cooking oil and ghee abolished
Abolition of holding tax
There will also be no holding tax on air travel, debit credit cards and mineral exploration.
Withholding tax will not be levied on bank withdrawals, stock market and margin financing.
The holding tax rate on mobile recharge has also been reduced from 12.5 per cent to 10 per cent.
Books, magazines, holding tax on agricultural goods abolished,
Sales tax on vehicles up to 850 cc has been reduced from 17 to 12.5%
Reduced 20% customs duty on industrial equipment to 3%
Reduced customs duty from 11% to 3%
Additional 3% customs duty on import of raw materials abolished
Reduction in 600 import tariff line for industrial raw materials
Regulatory duty on import of raw materials abolished
Relief in other 400 raw material tariff line
Reduction in GST rate
The holding on mobile services has been reduced from 12.5% to 10% which will bring it to 8%
Announcing zero rating facility on IT services exports
Federal excise duty on fruit juice abolished
Exemption on import of standard paper for publication of Holy Quran
Discount on self-discharge syringe and oxygen cylinder
Tax exemption on import of kits for local manufacturing of electric vehicles
Vehicle sales tax rate reduced from 17% to 1%
Federal excise duty and VAT tax on locally made 850 cc vehicles abolished while sales tax on them was reduced from 17 to 12 percent.
Withholding tax on import of CBU of 850 cc vehicles abolished
Advance customs duty waived on pre-made vehicles, new model makers
Domestic industry with an annual turnover of up to Rs 10 million has been deregistered in sales tax
Exemption from federal excise duty on telecom services
In the stock market, the kettle gain tax has been reduced from 15 to 12.5 percent
 

ghazi52

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TOTAL ACTUAL DEFENSE SPENDING: 17.07 Billion USD Of this the allocations as per services are:

Pakistan Army: 47.55%
Pakistan Air Force: 21.26%
Inter Services Boards/Institutions: 20.32%
Pakistan Navy: 10.85%
 

ghazi52

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PAKISTAN’S NEW MILITARY BUDGET 2021: 17 Billion US Dollars

• Military Operations Expenditure: PKR 1400 Billion OR 8.98 Billion USD
• Military Capability Development Program: PKR 350 Billion approx. OR 2.23 Billion USD
• Military Pensions: PKR 369 Billion OR 2.36 Billion USD


TOTAL ANNOUNCED DEFENSE SPENDING: 2.1 Trillion PKR OR 13.57 Billion USD [This does not include spending by the nuclear program, Strategic Forces, missile development, major hardware & equipment acquisitions or Classified budgets such as the ISI’s budget; all of this put together..
 

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