• Saturday, October 19, 2019

Fiscal Budget 2019-20

Discussion in 'Pakistan Economy' started by VCheng, May 21, 2019.

  1. Men in Green

    Men in Green FULL MEMBER

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    Good for economy bad for comon man. Mhengai ane wali h.
     
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  2. Salza

    Salza SENIOR MEMBER

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    IK to address nation at 9.15 pm
     
  3. 313ghazi

    313ghazi SENIOR MEMBER

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    If they have the popularity and can attract the protestors, they're welcome too. It's their democratic right.
     
  4. Salza

    Salza SENIOR MEMBER

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    Opposition has no support.
     
  5. VCheng

    VCheng ELITE MEMBER

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    Let us see how they are able to exercise their rights given the backing of the present government. I hope there are no disruptions caused by any dharnas as happened in the past.

    We will soon find out, won't we?
     
  6. Verve

    Verve ELITE MEMBER

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    Many food items GST has been decreased or removed.

    This budget was for poor and it's going to rightly hurt the middle and upper class and rightly so as all tax evaders are in these two classes.

    This is what happens when people don't pay taxes.

    Personally I would have linked tax filing to utilities bills. Non filers should be charged 30 times the electricity and gas price. Tax filing requirement over a limit set on units consumed. Force those above that set units to submit NTN numbers and then cross reference for confirmation of last tax filing.
     
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  7. Salza

    Salza SENIOR MEMBER

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    Were you sleeping during elections last year. Your dream will remain as dream.
     
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  8. Yaseen1

    Yaseen1 SENIOR MEMBER

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    cooking oil,sugar and milk gst has increased all of which are consumed by poor public
     
  9. VCheng

    VCheng ELITE MEMBER

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    As I said, let us wait and see what happens next in the real world.
     
  10. Syed1.

    Syed1. SENIOR MEMBER

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    Pakistanis voted for IK, who are you to question their vote? What is your auqaat? Don't over estimate your importance.
     
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  11. Verve

    Verve ELITE MEMBER

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    Flavoured milk price has increase.

    As for cooking oil, for a family of 5 handi, only 3 table spoons is required. People waste and overuse oil like anything in cooking.

    Sugar - it's a luxury for poor and majority population is poor if you didn't bother finding that out. This is not a tax on poor. And anyone who wants to consume a lot of this narcotic should pay for higher price for it.

    GST on lots of final food products has been brought down.
     
  12. Fracker

    Fracker SENIOR MEMBER

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    Being middle class is a sin in Pakistan . If it's poor favouring budget yet middle class get grilled, and if it is industrial/investor's favouring yet middle class get grilled. Middle class has only option, whether to leave the country or start stealing and try to join elite or last to join poor class (between 2009-2013 many middle class families become Poor's this new budget will do same.

    Overall taxes has been increased, tax slabs are now more brutal, same time development budget has been decreased. Nothing favouring overseas or investors, no new Opportunities for common people to earn.
    .
    (Let me go through complete, so far it looks like as per expectations i.e. based on IMF demands)
     
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  13. VCheng

    VCheng ELITE MEMBER

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    Move up. Or move out.
     
  14. ghazi52

    ghazi52 ELITE MEMBER

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    Budget 2019-20: Pakistan earmarks Rs1 billion for Kartarpur development

    June 11, 2019


    ISLAMABAD – The federal government has earmarked Rs 1 billion for land acquisition and development of infrastructure of Kartarpur, the place where Baba Baba Guru Nanak is buried, under Public Sector Development Programme (PSDP) for the next financial year 2019-20.

    According to the data released by Planning Commission, Ministry of Planning, Development and Reforms, the estimated cost of the project is Rs3 billion for the Ministry of Religious Affairs and Interfaith Harmony.

    The Kartarpur Corridor will connect Gurdwara Darbar Sahib in Pakistan’s Narowal district with Dera Baba Nanak in India’s Gurdaspur.

    Gurdwara Darbar Sahib in Narowal district of Punjab’s holds religious significance for the Sikh community. It is where Baba Guru Nanak settled down after his travels as a missionary. He lived there for 18 years until his death in 1539.

    Pakistan will build a corridor from the Indian border to the Gurdwara Darbar Sahib in Kartarpur while the other part from Dera Baba Nanak in Indian Punjab’s Gurdaspur district up to the border will be constructed by India.

    In November last year, Prime Minister Imran Khan had laid the foundation stone for the corridor. Former Indian cricketer-turned-politician Navjot Singh Sidhu, Indian Minister for Food Harsimrat Kaur Badal and Indian Minister for Housing Hardeep S Puri had attended the groundbreaking ceremony.

    Budget 2019-20: 10% increase in salaries, pension of federal employees; minimum wage set at Rs17,500

    June 11, 2019
    ISLAMABAD – The federal government has proposed an increase of 10 percent in salaries and pensions of the government employees from Grade 1-16, including armed forces employees, in Budget 2019-20.

    However, there is no increase in salaries for civilian government employees from grade 21 to 22 proposed in the budget for next fiscal year.

    The budget outlay is Rs7,022 billion which is 30 percent higher than the last year.

    In the budget for FY2019-20, a 5 percent adhoc relief is proposed for government employees from grade 17 to 20.

    Minimum wage has been set at Rs17,500 while pensions for all government employees will be increased by 10 per cent.

    Meanwhile, ministers have agreed to voluntary 10 per cent cut in salaries.

    ............................................................

    ISLAMABAD – Following are the highlights of the Public Sector Development Programme (PSDP) 2019-20:

    • Total outlay of the PSDP for the fiscal year 2018-19 is Rs 1.863 trillion
    • The share of federal PSDP is Rs 951 billion while that of provincial PSDP is Rs 912 billion
    • Rs 250 billion have been earmarked for alternative financing
    • National Highway Authority to get a share of Rs 155.966 billion
    • Sukkur-Multan Motorway to receive Rs 19 billion
    • Rs 20 billion earmarked for Diamir Bhasha Dam and land acquisition
    • Mohmand Dam to get Rs 15 billion
    • Rs 54.68 billion allocated for Dasu Hydropower project
    • Rs 29.046 billion allocated for development schemes of Higher Education Commission
    • Rs 10 billion for Prime Minister’s Youth Skill Development Initiative
    • Rs 48 billion set aside for Merged Areas 10 Years Development Plan
    • Rs 85.021 billion earmarked for Water Resources Division
    • Aviation Division to get Rs 1266.5 million for the fiscal year 2019-20
    • Rs100 million earmarked for Board of Investment
    • Rs 39.986 billion set aside for Cabinet Division
    • Climate Change Division to get Rs 7579.2 million
    • Rs100 million earmarked for Commerce Division
    • Rs 248.3 million fixed for Communication Division (other than NHA)
    • Rs 456 million to be provided to Defence Division
    • Defence Production Division to get Rs1700 million
    • Rs 333.25 million allocated for Establishment Division
    • Rs 4796.76 million earmarked for Federal Education and Professional Training Division
    • Rs 36.821 billion set aside for Finance Division
    • Rs 29.774 million allocated for Foreign Affairs Division
    • Housing and Works Division to get a share of Rs 2930.07 million
    • Human Rights Division will get Rs 142.9 million for upcoming fiscal year
    • Rs 2343.293 million allocated for Industries and Production Division
    • Rs 516.126 million earmarked for Information and Broadcasting Division
    • Rs 7341.617 million set aside for Information Technology and Telecom Division
    • Rs 339.958 million for Interprovincial Coordination Division
    • Rs 9,847.769 million for Interior Division
    • Kashmir Affairs and Gilgit Baltistan Division will get Rs 44.699 billion
    • Rs1340.225 million set aside for Law and Justice Division
    • Rs 3600.243 million earmarked for Maritime Affairs Division
    • Narcotics Control Division will get a share of Rs135.24 million
    • National Food Security and Research Division to get Rs12.047 billion
    • National Health Services Regulations and Coordination Division to have Rs13.376 billion
    • Rs 128.016 million allocated for National History and Literary Heritage Division
    • Rs24.457 billion for Pakistan Atomic Energy Commission
    • Rs 301.47 million for Pakistan Nuclear Regulatory Authority
    • Rs 581.812 million set aside for Petroleum Division
    • Rs 7,963.517 million for Planning, Development and Reform Division
    • Rs 200 million for Poverty Alleviation and Social Safety Division
    • Rs16 billion for Railways Division
    • Rs1000 million for Religious Affairs and Interfaith Harmony Division
    • Rs 1,818.23 million for Revenue Division
    • Science and Technological Research Division to get Rs 7,407.361 million
    • Rs 6,033.245 million set aside for SUPPARCO
    • Rs 202.828 million for Textile Industry Division
    • Rs 41.792 billion earmarked for NTDC/PEPCO
    • Rs 5000 million for Earthquake Rehabilitation and Reconstruction Authority (ERRA)
    • Rs 32.500 billion for Relief and Rehabilitation of IDPs
    • Rs 32.5 billion for Security Enhancement
    • Rs 2000 million for Clean Green Pakistan Movement/Tourism
    • Rs 1000 million for Gas Infrastructure Development Cess
     
  15. Fracker

    Fracker SENIOR MEMBER

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    If middle class is removed from equation, Pakistan will fall soon. We hand to mouth people run the show.

    Elite class has ways to evade taxes or move their money outside. Poor's has nothing to loss so they stay at this place.
     
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