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

budget days are near
how this budget is going to favour common man?
is it going to improve or put more burden on lives of people?
what will be fate and impact of VAT on common man?
what are government's agendas?
how to relieve people?
what people are expecting?
which things are going to be hit by budget?
are daily needs going to be out of the range of people?
what effect its going to have on politics and current scenario?

brother ,no need to tie our hopes with thier agressive budget.because, they always say this one is better than the last one.. but when peoples see it they will agaped as usual..

Budget is still far away but me and other smokers are being charged Rs. 2 extra for a pack since last week. :clap
when i protest against this over-charging, the shopkeeper says " aap ko nahi pata budget aa raha hai" and this happens every year in this month and they collect millons before the budget wheater the price is increased or not !
The company says we have not stoped the supply, the shopkeepers says they have to pay more to whole sellers. It is a mafia which becomes active before budget by stocking the consumer goods in anticipation of the price increase. Nobody can stop them as they create artifical shortage by hoarding. It is the best earning time of the year for them.
lets hope the budget will pass without droping another bomb on the poor people of pakistan.

good news
 

budget is not an annual shock.every pakistani faces daily a new budget.a lot of additional taxes will be presented wraped in faked allownces and reliefs.so,be prepare to warm welcome this gift :pipe

Pakistan’s 2010/11 budget — what to watch for

Thursday, May 27, 2010
KARACHI: Pakistan is due to announce its budget for the 2010/11 (July-June) fiscal year on June 5.

According to the details of the budget that have been announced and media reports on its likely contents.

Macroeconomics: The government expects gross domestic product (GDP) to grow by 4.5 per cent in 2010/11 fiscal year beginning on July 1 against 4.1 per cent forecast for 2009/10.

Agriculture growth during the next fiscal year is targeted at 3.8 per cent, manufacturing growth at 5.6 per cent and service sector growth at 4.7 per cent.

Inflation for 2010/11 fiscal year is targeted at 8 per cent against the central bank’s forecast in the range of 11 per cent and 12 per cent for 2009/10.

The government aims at a fiscal deficit in 2010/11 fiscal year in between 4 per cent and 4.2 per cent of the GDP against an earlier forecast of 5.1 per cent, according to a newspaper.

The government plans to further cut the Public Sector Development Programme funding to Rs280 billion for 2010/11 because of financial constraints and a commitment to international donors to maintain the budget deficit within manageable limits, a newspaper reported quoting a top government official.

[B]Taxes, Duties and Subsidies: The government has decided to eliminate subsidies on power, fertiliser and sugar in the budget for the next fiscal year.[/B]

[B]The government has decided to eliminate five types of subsidies for the next fiscal year, official sources said[/B]. This includes a subsidy on the power tariff, a power tariff subsidy for tube-wells in Balochistan, a tariff differential subsidy, a subsidy on sugar and a subsidy on fertiliser from July 1.

The government is expected to announce the replacement of a general sales tax with a 15 per cent Value-Added Tax in the budget.

The government is also expected to impose capital gains tax on the purchase of shares made on or after July 1.

2010/11 2009/10

GDP growth 4.5pc 4.1pc

Agriculture growth 3.8pc 2.0pc

Manufacturing growth 5.6pc 4.4pc

Service sector growth 4.7pc 4.6pc

Inflation 8.0pc 11-12pc

Fiscal deficit 4.2pc 5.1pc

source:[url]http://www.thenews.com.pk/daily_detail.asp?id=241382[/url]

yes ,you guys were right ,better not think about it,its a nightmare

Ya, we can expect more grief instead of relief out of coming budget. But a good news i heard is the lower tax on computer items is expected so wait if you want to buy a new laptop or LCD moniter. :pipe

Federal Budget with outlay of Rs3.259 trln presented
 

ISLAMABAD: Finance Advisor Dr. Abdul Hafeez Shaikh presented Federal Budget for 2010-11 with a total outlay of Rs3.259 trillion with 685 billion deficit before the parliament on Saturday.

In his budget speech at special budget session of the National Assembly, Dr. Hafeez Shaikh announced ad hoc allowance at 50 percent of basic salaries for government employees; raise in GST from 16 to 17 percent; 10 percent cut in Federal Cabinet salaries; capital gains tax of 10 percent on stocks held for six months or less, 7.5 percent on stocks held between 6 months to a year; reduction in customs duty on 29 items; raise in pension by 15 percent for employees retired before 2001 and 20 percent for those retired after 2001.

He said the budget deficit will be around 685 billion, which is 4 percent of GDP.

Tax revenue is targeted at 1.78 trillion rupees out of which the Federal Board of Revenue will collect 1.667 trillion rupees, about 9.8 percent of GDP.

Non-tax revenue is targeted at 632.2 billion rupees. Revenue from direct taxes is targeted at 657.7 billion rupees and revenue from indirect taxes is targeted at 1.12 trillion rupees. Subsidies will be reduced to 126.68 billion rupees from 228.99 billion rupees.

Development spending or the public sector development spending is targeted at 663 billion rupees, with 373 billion rupees allocated for provinces, and 280 billion rupees as the federal component.

Inflation is targeted at 9.5 percent in 2010/11 fiscal year, down from the central bank's forecast of between 11.5percent and 12.5 percent for the year ending June 30.

The defence budget is set at 442.2 billion rupees, a 17percent increase from last year.

The general sales tax will be reformed to a uniform rate of 15 percent. GST will not be imposed on health, education, food items and on those merchants whose turnover is less 7.5million rupees.

This reform will be effective from October 1, 2010.

Development spending or the public sector development spending is targeted at 663 billion rupees, with 373 billion rupees allocated for provinces, and 280 billion rupees as the federal component.

Medical Allowance for employees of Grade-1 to 15 increased by 100 percent. While the raise in medical allowance for employees of Grade-16 to 22 is 15 percent of their basic pay.


Dr. Shaikh said Rs 1 CED will be imposed on manufacturing of each cigarette while 30 million energy savors will be provided in a bid to conserve electricity.

He stressed upon self-reliance and resource mobilization.

Talking about unemployment, he said jobs are created when the whole economy grows.

He held flawed policies and influence of some government departments responsible for energy shortage in the country where people are willing to pay for the utility but cannot get it due to unavailability.

We have to make our policies right and rise above the petty issues.

He said there is burden of 235 billion on the country’s budget due to losses being incurred by state owned enterprises including PIA, Pakistan Steel Mills and PEPCO.

He said three dams will be built in 2010-11.

He said PEPCO wants subsidy of Rs 180 billion.

All non-developmental federal expenditures will be frozen while 40 billion will be distributed among the poor under Benazir Income Support Programme.

Baitul Maal to continue functioning with Rs2 million.

ADP is being fixed at 603 billion out of which 52 percent will be given to the provinces.

Minimum taxable income for salaried class being raised from Rs200,000 to Rs300,000.

Capital Gains Tax of 10 percent being imposed on gains from stocks held for less than 6 months; 7.5 percent on gains from stocks held for 6 months to 1 year and; no tax on capital gains from stocks held for more than a year.

Pension raised by 15 percent for the employees who retired before 2001 and 20 percent for those retired after 2001.

200,000 unemployed youth will be provided employment for 100 days under Youth Scheme.

s663bn allocated in PSDP-2010-11
 

[B]s663bn allocated in PSDP-2010-11[/B]
Updated at: 1745 PST, Saturday, June 05, 2010 ShareThis story

ISLAMABAD: Following are the highlights of Public Sector Development Programme (PSDP) 2010-11, released here on Saturday:

Total amount of Rs. 663 billion has been allocated in PSDP-2010-11 for various ongoing and new schemes.

Out of total PSDP, the federal share is Rs. 280 billion, provincial share Rs.373 billion where as Rs.10 billion would be spent for Reconstruction and Rehabilitation of Earthquake-hit areas.

Following are the main allocations:
--- Rs.28423.8 million for Water and Power Division (Water Sector)
--- Rs.15227.5 million for Pakistan Atomic Energy Commission.
--- Rs.14565.7 million for Finance Division.
--- Rs.13629.6 million for Railways Division.
--- Rs.9395.7 million for Planning and Development Division.
--- Rs.15762.5 million for Higher Education Commission.
--- Rs.16944.5 million for Health Division.
--- Rs.10873.7 million for Food and Agriculture Division.
--- Rs.3220.1 million for Industries and Proudction division.
--- Rs.5140.9 million for Education Division.
--- Rs.5584 million for Interior Division.
--- Rs.3887.1 million for Defence Division.
--- Rs.3618.3 million for Housing and Works Division.
--- Rs.3618.7 million for Cabinet Division.
--- Rs.4115.5 million for Population Welfare Division.
--- Rs.1646.2 million for Science and Technological research Division.
--- Rs.885.6 million for Livestock and Dairy Development Division.
--- Rs.1000 million for Law and Justice Division.
--- Rs.1000 million for Environment Division.
--- Rs.1000 million for Special Initiatives Division.
--- Rs.1234.7 million for Revenue Division.
--- Rs.623.4 million for Petroleum and Natural Resources Division.
--- Rs.718.3 million for Information Technology and Telecom Division.
--- Rs.1229.7 million for Defence Production Division.
--- Rs.474.1 million for Commerce Division.
--- Rs.149.1 million for Communication Division (other than NHA).
--- Rs.518.6 million for Ports and Shipping Division.
--- Rs.246.9 million for Pakistan Nuclear Regulatory Authority.
--- Rs.152.9 million for Women Development Division.
--- Rs.107.6 million for Social Welfare and Special Education Division.
--- Rs.65.8 million for Labour and Manpower Division.
--- Rs.82.3 million for Local government and Rural Development Division.
--- Rs.125 million for Tourism Division.
--- Rs.140.8 million for ministry of Foreign Affairs.
--- Rs.549.8 million for Narcotics Control division.
--- Rs.114.4 million for Establishment Division.
--- Rs.353.9 million for Culture Division.
--- Rs.229.6 million for Sports Division.
--- Rs.74.5 for Youth Affairs Division.
--- Rs.509.9 million for Information and Broadcasting Division.
--- Rs.164.6 million for Textile Industry Division.
--- Rs.82.3 million for Statistics Division.
--- Rs.81.1 million for Ministry of Postal Services.
--- Rs.15 million for Economic Affairs Division.
--- Rs.12029.7 million for WAPDA (Water)
--- Rs. 44637 million for National Highway Authority
--- Rs.10523.5 million for Azad Jammu and Kashmir (Block and other projects)
--- Rs.6584.9 million for Gilgit-Baltistan (Block and other projects)
--- Rs.8642.6 million for FATA.
--- Rs. 5000 million for People's Works Programme-I
--- Rs.25000 million for People's Works Programme-II

[B]Salient points of Dr. Hafeez Shaikh’s budget speech.[/B]

* Total budget outlay for 2010-11 is [B]Rs 3259 billion[/B], which is 10.7 percent more than the current year.
[B] * 50 percent ad hoc allowance of basic salaries to be granted to government employees.[/B]
* GST raised from 16 to 17 percent.
[B]* Salaries of government employees raised by 50 percent.[/B]
[B]* Federal Cabinet cut down its salaries by 10 percent.[/B]
* Medical Allowance for employees of Grade-1 to 15 increased by 100 percent. While the raise in medical allowance for employees of Grade-16 to 22 is 15 percent of their basic pay.
[B] * Rs 1 CED imposed on manufacturing of each cigarette.[/B]
* Tax revenue is targeted at 1.78 trillion rupees out of which the Federal Board of Revenue will collect 1.667 trillion rupees, about 9.8 percent of GDP.
* Non-tax revenue is targeted at 632.2 billion rupees. Revenue from direct taxes is targeted at 657.7 billion rupees and revenue from indirect taxes is targeted at 1.12 trillion rupees. Subsidies will be reduced to 126.68 billion rupees from 228.99 billion rupees.
* Development spending or the public sector development spending is targeted at 663 billion rupees, with 373 billion rupees allocated for provinces, and 280 billion rupees as the federal component.
* Inflation is targeted at 9.5 percent in 2010/11 fiscal year, down from the central bank’s forecast of between 11.5percent and 12.5 percent for the year ending June 30.
* The defence budget is set at 442.2 billion rupees, a 17percent increase from last year.
[B]* The debt to GDP ratio has climbed to 55 percent and ‘we must protect the poor’.[/B]
* 30 million energy savors will be provided in a bid to conserve electricity.
* He stressed upon self-reliance and resource mobilization.
* Talking about unemployment, he said jobs are created when the whole economy grows.
* He held flawed policies and influence of some government departments responsible for energy shortage in the country where people are willing to pay for the utility but cannot get it due to unavailability.
* We have to make our policies right and rise above the petty issues.
* He said there is burden of 235 billion on the country’s budget due to losses being incurred by state owned enterprises including PIA, Pakistan Steel Mills and PEPCO.
[B]* Three dams will be built in 2010-11.
* Pepco want subsidy of Rs 180 billion.
* 685 billion budget deficit, which is 4 percent of GDP.
* Reformed GST to be implemented from October 31.
* All non-developmental expenditures frozen.
* 40 billion to be distributed among people from Benazir Income Support Programme.[/B]
* Baitul Maal to continue functioning with Rs2 million.
* Minimum wage raised from Rs6000 to Rs7000.
* ADP fixed at 603 billion out of which 52 percent will be given to the provinces.
* GST will be reformed under which instead of 16 to 25 percent GST there should be single 15 percent GST for all. No sales tax on health and food.
* Rs10 FED imposed on 1 mmbtu gas.
* Minimum taxable income for salaried class raised from Rs200,000 to Rs300,000.
* Capital Gains Tax of 10 percent being imposed on gains from stocks held for less than 6 months; 7.5 percent on gains from stocks held for 6 months to 1 year and; no tax on capital gains from stocks held for more than a year.
* Custom duty reduced on 29 items.
* Pension raised by 15 percent for the employees who retired before 2001 and 20 percent for those retired after 2001.
* 200,000 unemployed youth will be provided employment for 100 days under Youth Scheme.

Rs. 663bn allocated in PSDP-2010-11


o my God,only luxury of cigarettes is going to be out of reach.
some relief,with a lot of question marks??????

VAT implication is postponed till october.strange and interesting.
but over all
the budget is a mixture of goods and bads
a brutus friendly budget

Rs. 1 tax for each cigrates ? :0 Means increase of Rs. 20 for a pack ? :cry
Hamara kia banay ga ?