BUDGET 2010-11 how it is going to bring relief for people? - Page 3

Raz · #21 Tuesday, June 08, 2010

Quote:

Originally Posted by dr.ali.zaidi

Does it mean that next year the salaries would be depreciated by 50%?? what about the person getting employment this year and next year??

It may be discontinued in future but mostly allowances once given are rarely withdrawn due to pressure of government servants / their associations. Even though it is at the sole discretion of government to disconnect allowance but it is not easy to take this action. Later on with the efforts of associations / unions such adhoc allowances are merged in basic salary to make its permanent part.
Don't worry, this will be available for employees in the years to come as well.

Invincible · #22 Tuesday, June 08, 2010

Govt fails to address crucial circular debt issue in new budget: analysts

KARACHI: The Pakistan Peoples Party-led government has failed to address the crucial issue of Rs120 billion worth circular debt in the proposed budget, which would not only hit the performance of energy companies, but also affect their dividend-paying ability, analysts said on Monday.

“We are disappointed. No measure has been announced in the new budget to resolve circular debt, a plague haunting energy companies,” said Farhan Mehmood, an analyst at the Topline Securities.

“This is evident from FY11 budget documents where the government has revised down its dividend targets for the energy companies.”Every year, the government reveals its returns (dividends) on the federal government’s investment. The receipt of dividends varies, depending upon the profits earned each year. At times, the budgeted numbers are not in line with the actual dividends declared by these firms. Among financial and non-financial institutions, only energy companies contribute around 90 per cent of the total dividend that the government receives.

Muzammil Aslam, an analyst at JS Global, said that contrary to the expectations, the government did not discuss any framework to resolve the circular debt in the energy chain. “Hence, the Budget FY11 remains a non-event for the sector,” he said.

The government has revised down its overall dividend target by 15 per cent to Rs64.2 billion for FY11 against Rs75.2 billion budgeted in FY10.

Ahsan Mehanti at Shahzad Chamdia Securities said that the government, contrary to the market expectations, has mentioned no strategy to deal with the circular debt issue. “But the impact on the oil marketing companies and the energy sector would be neutral as no revision in the petroleum development levy remains encouraging.”

The major cut in the dividend is witnessed in the energy companies primarily due to circular debt liquidity constraints, analysts say. However, they believe a sharp decline in oil prices and expected six per cent increase in the power tariff would reduce the further piling of the circular debt.

qayym · #23 Tuesday, June 08, 2010

Last Island · #24 Wednesday, June 09, 2010

Maintenance of Gardens at the Cost of Taxpayers’ Money

According to the official document, the maintenance of garden in the PM Secretariat will cost Rs 11.562 million in the fiscal budget 2010-11 against the original budgetary allocation of Rs 10.871 million in the outgoing fiscal 2009-10. The maintenance of gardens in the PM Secretariat is estimated to cost Rs 13.341 million in 2011-2012 and Rs 14.491 million in 2012-13.

In the President’s Secretariat, the maintenance of gardens is estimated to cost Rs 12.360 million in the fiscal year 2010-11, which will further go up to Rs 13.2 million in 2011-12 and Rs 14.16 million in 2012-13.

dr.ali.zaidi · #25 Friday, June 11, 2010

Sindh govt. has presented its budget and it has been announced that 50% raise would be given to the Sindh govt. employees in addition to 15% increase in medical allowance. It was earlier announced by the federal govt. that they would provide 50% increment to all the govt. employees. However, I want to ask here that anyone who is a sindh govt. employee should expect how much raise in his salary? Would is be 115% i.e. 50% by federal announcement, 50% provincial and 15% medical??

please also explain that since these increments are in shape of ad hoc allowance so do we get those ad hoc allowances in our CTP and STP esp. those who have applied through proper channel

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