Latest News

Government announces Budget 2019-2020 in NA

Minister of State for Revenues Hammad Azhar announced the budget proposals for the next financial year.

Views

The Pakistan Tehreek-e-Insaf government has presented the budget 2019-2020 amid protest from opposition parties in national assembly on Tuesday.

Minister of State for Revenues Hammad Azhar announced the budget proposals for the next financial year.

According to some of the key features of the newly announced budget, it has been revealed that :

  • Federal ministers have agreed for 10 percent cut in their salaries.
  • The pensions for retired government employees will be increased by 10 percent.
  • The salaries of government employees ranging from grade 1 to 16, will also be marked up by 10 percent.
  • Salaries of grade 21 and 22 employees will not be increased.
  • 5 percent ad hoc relief will be given for government employees from grade 17 to 20.
  • 10 percent ad hoc relief allocated for armed forces employees.
  • Government will provide Rs 40 billion subsidy on gas and electricity.
  • GST will remain unchanged as current percentage of 17.
  • Under Kamyab Jawan Program, Rs 100 billion soft loans will be provided to youth.
  • Rs 100 million allocated for Kartarpur Development.
  • Rs 1,266 million allocated for 16 projects for Aviation Division
  • Minimum wage set for employees is Rs 17,500.
  • Pakistan’s Defence budget will remain Rs 1150 billion.
  • Provices would be given Rs 3955 billion.
  • Rs 28,646 million has been allocated for Higher Education Commission (HEC).
  • Tax net will be increased as 20,00,000 people in Pakistan file tax returns of them 600,000 are employees.
  • Rs 45.5 billion allocated for Karachi’s development programme.
  • The PSDP allocation for Climate Change Sector has been kept at Rs1102 million.
  • Rs 63.5 billion allocated for Khyber Pakhtoonkhwa, Azad Kashmir and Gigit Baltistan.

According to the officials of government, the budget 2019-2020 has focused on ensuring economic stabilization and providing economic stimulus for sustainable growth.

The proposed budget would have special emphasis on austerity, fiscal discipline, external sector management and protecting the poor.

the authorSamra Mazhar

Leave a Reply