Pakistan budget-Fiscal year 2013-2014: Discussions

[Leader]

Okay- all news related to the Budget.

who gets what in the budget?

 

[Argus Panoptes]

........
All in all, the budget has it's goods and bads. The perception I am getting from media is that except a few money saving measures here and there, the budget is largely the same, with increased taxes for the poor and middle class while the affluent get away with it.

I've said it before, the government will have to take hard hitting measures, but not only on one class of people, they have to be across the board.

The good steps mentioned are those on which we'll have to wait to see if they are implemented, like those housing schemes and youth programs.

I think this is best termed as "rearranging the deck chairs on the Titanic". Nothing substantive will change as we sink.

 

[Jango]

I think this is best termed as "rearranging the deck chairs on the Titanic". Nothing substantive will change as we sink.

Couldn't have said it better myself.

 

[ziaulislam]

the budget disapoints me.
i was looking more funding in power sector
reforming GST instead of constant fixed rate. why should basic food items like milk be taxed same as luxary items
taxation and duty excemptions on imports of car etc is a very bad step
i am against 75 billion allocation on benazir income support due to corruption, until they can make a system this should be spent on sectors like health, education and small dams to remove poverty
e.g a small hydro dam of 5-10 billion can change lifes of 10-20k families
list is quiet lenghty

 

[saiyan0321]

All in all like nuclear pak said it has its ups and down but TBH i was expecting a little better. this could be a negative step of not increasing the salary of workers as it may lead to bribes. They will need to keep an eye for this. small loans to be given at eight percent interest. Hmm was there any mention of interest free loans and new electric projects. I feel N is really ignoring the main reason they came to power and that was to solve the electric crisis and if people dont have a reduced loadshedding by a year or two ten i am afraid they will be treated the same way pppp was treated.

taxation on basic items like milk is not going to sit well by people too. milk already jumped from 45 to 90 and now more increase wont help. So dissapointed and i could be more dissapointed if they dont implement the good ones.

 

[Zarvan]

I am no economic expert so I'll keep my comments limited.

1- No duty on solar and wind powered equipment, this is a good step IMO, it would encourage alternative energy sources.

2- The youth program, giving them one year job in government department and other such incentives.

3- Continuing the income support program and getting Benazir off of it.

4-Introducing some form of money saving measures, the austerity measures in the PM house and abolition of secret funds.

5- The withholding tax and other things on cars, and the abolition of duty on 1200cc hybrids and lowering of duty on greater cc cars.

6- Economic zones and Gwadar plans.

7- 1000 housing schemes consisting of 500 houses each.

8- People's work program

The bad:

1- Still no tax net on the agriculture sector.

2- Neither real estate

3- The same old case goes that the affluent get away with the taxes, while poor people get milk and sugar prices increased. 17% GST on milk FFS, milk that we make here! Thatcher Thatcher milk snatcher...remember?

4- The laptop scheme. Instead of doling out money on this stupid scheme, make a IT lab in colleges and unis or a public library with that money.

All in all, the budget has it's goods and bads. The perception I am getting from media is that except a few money saving measures here and there, the budget is largely the same, with increased taxes for the poor and middle class while the affluent get away with it.

I've said it before, the government will have to take hard hitting measures, but not only on one class of people, they have to be across the board.

The good steps mentioned are those on which we'll have to wait to see if they are implemented, like those housing schemes and youth programs.

yes rich are still not being taxed and agriculture tax is done by province again a bad job and yes laptop scheme is a waste off money but how on earth ishaq dar will get rid if cirrculr debt off more than 500 billion rupees within 60 days can any one explain this please

 

[Jango]

All in all like nuclear pak said it has its ups and down but TBH i was expecting a little better. this could be a negative step of not increasing the salary of workers as it may lead to bribes. They will need to keep an eye for this. .

Government employees have already announced a strike on 21 June.

 

[yesboss]

Why the hell they are increasing GST, it would hit back, it would increase inflation and cause a hike of price for daily use items.
Rather they should have tried to increase the Tax collection by increasing Tax Net, one good thing they could have done to provide relief to the people and the economy.

 

[Argus Panoptes]

the budget disapoints me.
i was looking more funding in power sector
reforming GST instead of constant fixed rate. why should basic food items like milk be taxed same as luxary items
taxation and duty excemptions on imports of car etc is a very bad step
i am against 75 billion allocation on benazir income support due to corruption, until they can make a system this should be spent on sectors like health, education and small dams to remove poverty
e.g a small hydro dam of 5-10 billion can change lifes of 10-20k families
list is quiet lenghty

The Income Support Program is funded largely by USA directly and it is spent according to their rules, not ours. We cannot divert it to other uses like you mention.

 

[saiyan0321]

Government employees have already announced a strike on 21 June.

ok expecting another shindig like the one with young doctors.

 

[Leader]

Again indirect taxation - In other words tax poor people to death

chup ker jao,na sukray na bano, yeh awam dost budget hai

 

[Hyde]

Overall in my opinion, it's a very good budget keeping the realistic figures in mind.

I am very happy to see 57 billion rupees allocated for HEC

Disappointed by not implying agricultural tax but it's not a big deal since the provinces themselves can do this job. But backed-by-federal would have been a great gesture of support.

Good enough money allocated for energy projects but I guess we needed more. May be bit of reduction in development funds and allocated that money to energy may not have been a bad idea since we are like in the emergency state about electricity crisis in Pakistan.

Withholding tax in marriage hall is a very good idea and only rich people are going to be effected by it, taxes on foreign dramas/movies is also very interesting step taken in the current budget.

 

[Leader]

what about minimum salary as per pmln promised?

 

[Jango]

Withholding tax in marriage hall is a very good idea and only rich people are going to be effected by it, taxes on foreign dramas/movies is also very interesting step taken in the current budget.

Oh yeah, I forgot about that in my initial post.

How are they going to implement the tax on foreign dramas and movies?

This is a budget which cannot be criticized too much, nor applauded much. It's somewhere in the middle. You also have to grant some leeway to PML that they had days to make the budget, bureaucracy had a big part in making this budget.

Could have been better...but I am not gonna criticize it too much. As you said, there are alot of financial constraints on Pakistan.

Maybe now we can see solar power take off in DHA and Bahria!!

what about minimum salary as per pmln promised?

They promised 18000 right?

 

[Leader]

pretty interesting tweets about the budget:

https://twitter.com/search?q=#Budget2013&src=tren

Oh yeah, I forgot about that in my initial post.

How are they going to implement the tax on foreign dramas and movies?

This is a budget which cannot be criticized too much, nor applauded much. It's somewhere in the middle. You also have to grant some leeway to PML that they had days to make the budget, bureaucracy had a big part in making this budget.

Could have been better...but I am not gonna criticize it too much. As you said, there are alot of financial constraints on Pakistan.

Maybe now we can see solar power take off in DHA and Bahria!!



They promised 18000 right?

it was either 15000 or 18000 as far as I remember.