Federal Budget on Wednesday June 12, 2013: FM Ishaq Dar

[Cyberian]

Federal Budget on June 12: Dar
Saturday June 8, 2013

Federal Finance Minister Ishaq Dar has said the federal budget will presented in the National Assembly on June 12.

While talking to media on Saturday, Finance Minister Ishaq Dar has said that a comprehensive plan has been prepared to repay loans worth about fourteen thousand billion rupees which are a huge burden on the national economy.

He said measures will be taken in the next budget to provide relief to the people besides giving a new boost to the revenue collection and generate new sources of income for the state.

Ishaq Dar said the new budget ‚ which will be presented on the 12th of this month‚ will focus on reducing circular debt which has surged to five hundred billion rupees.

The finance minister said despite grave economic problems‚ all possible measures will be taken in the budget to provide relief to the common man and reduce price hike.

To a question‚ he said the country is facing grave economic challenges and special emphasis will be laid on addressing the issue of load shedding and problems of common man.

The finance minister said the government will fix ambitious targets for revenue collection for the next financial year which will be achieved at all costs.

To a question‚ Ishaq Dar said an IMF mission will come to Pakistan in December this year to hold talks for repayment of debt. He said no talks will be held with the IMF at Dubai or any other place outside the country. NNI

Federal Budget on June 12: Dar | Pakistan Today

 

[Cyberian]

Last year, the total budget was $33 billion. $18.8 billion went to debt repayment and $6.2 billion went to Pakistan's military. Pakistani awam got only $8 billion.

This year the budget is expected to be around $44 billion. Let's see how much goes to the military this time.

I watched an interview by Dr Samar Mubarakmand in 2012 where he clarified that in the past, Pakistan had to spend a lot on the military as it was trying to acquire a minimum nuclear deterrence, which he claimed was achieved in 2012. Therefore, he said, funds will now be freed up to be spent on other sectors in Pakistan.

 

[Hemlock Khalid]

The budget for FY-2012-2013 has allotted Rs.545 billion for non-development segment of defense, which is Rs.36 billion more than that of previous year’s.

Rs.209.27 billion of this allocation would be spent on salaries, Rs.143.54 billion for running expenses, Rs.120.52 billion for physical assets and Rs.57 billion have been allotted for civil works.

The Budget FY-2012-2013 has allocated Rs.264 billion for Army, (ground forces) which stands at Rs.12 billion more than previous year’s, Rs.244.48 billion. Out of this the salaries of (ground forces) Army personnel amount to Rs.146 billion.

Pakistan Air Forces (PAF), has been allocated Rs. Rs.114 billion, with an increase of Rs.6 billion, as compared to previous year’s Rs.108 billion; out of which Rs.24.80 billion have been allotted in salaries, and Rs.22 .71 for running expenses.

Pakistan Navy’s Rs.52.72 billion allocation stands at Rs.130, 000,000 less than it’s previous year’s allocation of Rs.52.95 billion: out of which Rs.16.35 billion have been earmarked for salaries, and Rs.8.35 billion for running expenses.

Rs. 113.98 billion has been allocated in lieu of DP establishment and accounts, with Rs.24.39 billion for salaries, Rs.63.44 billion for running expenses.

 

[arushbhai]

Lets see what the budget looks like. I am sure more emphasis will be placed on energy sector.

 

[Cyberian]

NEC convened to deliberate on draft budget
Sunday June 9, 2013

ISLAMABAD - In his attempt to get recommendations on, and approval of, the federal budget 2013-14 from the National Economic Council (NEC), Prime Minister (PM) Nawaz Sharif summoned the NEC to meet today (Monday) to deliberate upon the proposed draft budget.

Earlier in the day, in pursuance of Article 156(1) of the constitution, President Asif Zardari, on advice of the prime minister, constituted the NEC to facilitate the budget process.

Article 156(1) of the constitution states that the NEC shall be constituted by the president comprising the prime minister as its chairman, chief ministers and one member from each province, to be nominated by the respective chief minister, and four other members that the premier may nominate from time to time.

Spokesperson to the President Senator Farhatullah Babar said the PM would be chairman of the NEC while members nominated by the PM include federal ministers Ishaq Dar, Ahsan Iqbal, Ghulam Murtaza Khan Jatoi and Khwaja Mohammad Asif.

Moreover, Punjab Chief Minister Shahbaz Sharif, Punjab’s finance minister, Sindh Chief Minister Qaim Ali Shah, Adviser to Sindh CM on Finance Syed Murad Ali Shah, Khyber Pakhtunkhwa (KP) Chief Minister Pervez Khattak, KP Finance Minister Sirajul Haq, Balochistan Chief Minister Dr Abdul Malik Baloch and Abdul Rahim Ziaratwal, MPA from Balochistan, would be members of the council.

The summary sent to the presidency from PM's office said the following would also be invited by a special invitation to attend the meeting; KP governor, Azad Jammu & Kashmir PM, Gilgit-Baltistan CM, Planning Commission deputy chairman, Finance Division secretary, Economic Affairs Division secretary, and Planning & Development Division secretary.

The budget session is likely to be convened on June 12.

NEC convened to deliberate on draft budget | Pakistan Today

 

[Thəorətic Muslim]

The budget for FY-2012-2013 has allotted Rs.545 billion for non-development segment of defense, which is Rs.36 billion more than that of previous year’s.

Rs.209.27 billion of this allocation would be spent on salaries, Rs.143.54 billion for running expenses, Rs.120.52 billion for physical assets and Rs.57 billion have been allotted for civil works.

The Budget FY-2012-2013 has allocated Rs.264 billion for Army, (ground forces) which stands at Rs.12 billion more than previous year’s, Rs.244.48 billion. Out of this the salaries of (ground forces) Army personnel amount to Rs.146 billion.

Pakistan Air Forces (PAF), has been allocated Rs. Rs.114 billion, with an increase of Rs.6 billion, as compared to previous year’s Rs.108 billion; out of which Rs.24.80 billion have been allotted in salaries, and Rs.22 .71 for running expenses.

Pakistan Navy’s Rs.52.72 billion allocation stands at Rs.130, 000,000 less than it’s previous year’s allocation of Rs.52.95 billion: out of which Rs.16.35 billion have been earmarked for salaries, and Rs.8.35 billion for running expenses.

Rs. 113.98 billion has been allocated in lieu of DP establishment and accounts, with Rs.24.39 billion for salaries, Rs.63.44 billion for running expenses.

The Salaries alone account for half of defense expenditures. Any chance of fixing this?

 

[Argus Panoptes]

The Salaries alone account for half of defense expenditures. Any chance of fixing this?

There is an easy solution. Just like the military pensions which are off the defense budget books, declare these salaries as being outside of the defense budget. Problem solved.

 

[Argus Panoptes]

It may be that the financial situation of the country is more dire than is realized:

Pakistan may have to seek another bailout from IMF | Business - geo.tv

Pakistan may have to seek another bailout from IMF
June 10, 2013 - Updated 059 PKT

ISLAMABAD: Werner Liepach, country director in Pakistan for the Asian Development Bank, said he's been impressed by the apparent resolve of Sharif and his government to address the thorny economic issues here, which, alongside the losses of the public sector firms also include the problems in the power sector and the unusually low levels of tax collection.

The economic situation is so dire Pakistan may have to seek another bailout from the International Monetary Fund.

But as far as state-owned enterprises go, ``I wouldn't go for privatization right away. I would go for corporatization,'' Liepach said. ``Just run these companies like companies, and not like government departments. Privatize the management _ put in managers that you appoint with a proper mandate.''

``I don't trust any numbers here,'' Liepach said. ``The first step if you want to get restructuring of state-owned enterprises is to do a very credible, independent both financial and operational audit. The current accounts, for me, they are very doubtful.''


AP

 

[arushbhai]

PMLN has an amazing team for finance and economics. 2 of my uncles have been inducted in the finance ministry. They are both amazing at what they do. One runs his own insurance company in dubai and the other one is a managing director of siemens London. They are both super smart and very hard working people

 

[SBD-3]

The Salaries alone account for half of defense expenditures. Any chance of fixing this?

Nops, something that we will have to live with. Because the inflow can be slowed down in army, but government just can't afford to fire people. Having said that Mushi made the armed forces very lucrative by increasing salaries and benefits excessively (One of the Naval guys told me that now a typical JCO starts at around 25-30+, would need a confirmation on that).

 

[S.Y.A]

Jang Multimedia

today's newspaper, outline of the budget, good to see defence budget has been increased

 

[Hemlock Khalid]

Nops, something that we will have to live with. Because the inflow can be slowed down in army, but government just can't afford to fire people. Having said that Mushi made the armed forces very lucrative by increasing salaries and benefits excessively (One of the Naval guys told me that now a typical JCO starts at around 25-30+, would need a confirmation on that).

nope... they start at around 8... the figure u mentioned is true for officers

 

[farhan_9909]

what about the education budget

i know they in there economic policies claimed to increase the education budget to upto 4.5% share of GDP

my concern are only the health and education budget