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Budget 2013-14 Pakistan Announced Today
Budget 2013-14 Pakistan Announce Today

Budget 2013-14 Pakistan Announced Today

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Authentic sources told that today i.e. 12th of June, 2013 Budget 2013-14 Pakistan has been approved. Federal Minister of Finance and Revenue Senator Ishaq Dar presented it in the National Assembly. This time salaries for the government officials could not be increased while the pension for the government servants did.
It was a rupees 3.5 trillion budget by the newly arrived government of PML-N.  They termed it as:

“Investment and Business Friendly Budget”

For public sector development program it envisaged Rs 1.155 trillion, which is a record allocation. It aims to stimulate the economy of Pakistan which is in a dark hole presently. For the FY 2013-14 defence Rs 627 billion is allocated this time. This budget is going to bother poor citizens once again as the general sales tax is increased further by one percent. Once again the prizes of the commodities will be raised and there is no chance to get rid of prize hike again in this year.
Dar said that by saving expenditures of the Prime Minister’s House we could save 40 billion from national money so this year they would try that. Prime Minister is banned to buy new cars to save the national money according to Mr Dar. He also proposed that the circular debt will be eliminated soon in sixty days.Budget-in-Pakistan 2013 2014

There is a ten percent increase in the pension of the retired government servants. The fiscal year budget is Rs. 75 billion for Income Support Program. The import of luxury cars are no more exempted from tax now. Now there are taxes on many small and big things like there is a tax on foreign dramas and movies. There is a withholding tax on wedding ceremonies in the outdoor venues.  Cigarettes Pan and chaliya are not tax free now; rather taxes on them have been increased.
Revenue target this time is 2.475 trillion while GDP growth rate is 4.8 percent projected. The power subsidy is Rs 185 billion. Budget abolished minister’s discretionary funds.
The government will also begin a new scheme called the Prime Minister Laptop Scheme& replace the older People’s work program with “Tamir-e-Watan Pakistan” program in the upcoming days. The duty on water filtration will be decreased soon.
3G technology auctions will be held soon according to the Budget 2013-14, and the practice of borrowing from State Bank of Pakistan will soon be shunned. The target rate of inflation for FY 2013-14 is fixed as 9.5 percent. The Senator said it is comparatively better budget that will help Pakistan economy to move forward a lot.

About Ahmad A.R

Ahmad A. is professional I.T guru and Blogger from Pakistan and he hold Computer Sciences degree from LUMS and serves many multinational organizations. His technology review remain quite popular in past. He is currently doing Masters Degree in Computer Science from Leeds University, United Kingdom.

3 comments

  1. 15000 ya 18000 hazar selry ka jo wada keya tha wo kha gya us par amal karo ya wot wapes karo or saudeya arab wapes chaly jao

  2. selyo kam se kam 18000 ya 15000 karo jo apny mansor me ly k ae ty

  3. GST 16% to 17%
    Pensions to be increased by 10%.
    No raise in salaries.
    Minimum pension raised from Rs 3000 to Rs 5000
    Tax holiday in Special Economic Zones enhanced from 5 to 10 years.
    Rs 59 billion allocated for new water reservoirs
    Rs 225 billion allocated for energy projects
    Pakistan Railways to be converted into a corporation
    1000 Colonies for low income groups; each with 500 houses
    Corporate tax to be reduced in 5 years from 35% to 30%
    Adjustable withholding tax to be imposed on marriages in halls, dramas, entertainment
    Tax slab on salaries up from 25% on Rs 2.5 million to 35% on Rs 6.5 million
    Rs 3 billion allocated for Laptop Scheme for HEC recognised institutions
    Expenditure of PM Office reduced from Rs 726 million to Rs 396 million
    Students with 16 years education to get internship, Rs 10,000 stipend
    Free 6 months vocational training for up to 25 year youth
    57 Billion for Free Student Laptop
    Tax on Hybrid vehicles reduced by 100% up to 1200cc; 50% on 1200-1800cc; 25% pm 1801-2500cc
    Rs 2 billion Ramzan package to be offered at Utility Store
    Ban on purchase of new vehicles in government department
    Benazir Income Support Program to be renamed as Income Support Program; up from Rs 40 billion to Rs 75 billion; stipend increased to Rs 1200
    Number of federal ministries to be reduced to 40
    Ban on purchase of new vehicles for Prime Minister office
    Ministers discretionary funds abolished
    Tax exemption of luxury cars to be abolished

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