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Federal Budget 2005-06

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    Federal Budget 2005-06

    So the frenzy begins, or is it over for the next 1 months...? The much awaited annual budget has been declared amidst typical glitches and leg pullings which are a regular feature around this time every year...

    Dawn have the best coverage so far and this report is very informative;

    http://dawn.com/2005/06/07/top1.htm

    This page has reports on more intricacies;

    http://dawn.com/2005/06/07/index.htm

    as does this;

    http://dawn.com/2005/06/07/nat.htm

    Some major highlights are as follows:




    • PSDP goes up by 34.7 Percent
    • Defense allocation raised
    • Tax Cuts proposed to boost investment
    • 15 percent hikes in pays and 10 percent in pensions for Govt employees
    • Rs. 9.4 Billion for health projects
    • Rs18.7 Billion for Law and Order, Public safety
    • Rs.1 Billion for Madersah reforms
    • Presidency's expenses shoot up
    • Rs 1.4 Billion for Parliament
    • And as usual; Opposition walks out of National Assembly and Senate
    • and budget termed illegal due to being presented without finalizing the NFC...?
    Reports on above in Links provided at top.

    and the Budget Speech and National Finance Bill details here:
    http://www.dawn.com/events/budget05-06/budget.htm with audio!
    Last edited by Haris; Jun 7, 2005, 01:45 PM.

    #2
    Re: Federal Budget 2005-06

    One question; how much does an average citizen from any province get affected by the federal budget as compared to the provincial budget?

    and guys pour in here all comments, suggestions, thoughts, questions, answers and in depth analysis on the budget, its nature, new policies and results expected...

    Comment


      #3
      Re: Federal Budget 2005-06

      I have to say the budget has it's positive sides but as far as making a radical difference to your average Pakistani ..I don't see that happening..inflation remains quite high..the pay and pensions increase is when adjusted for inflation not enough..I don't see why they couldn't have cut petrol taxes?

      As far as the NFC is concerned, the provinces have in reality very little control over revenues..even provincial taxes are collected by the federal government..Pakistans resource distribution system is exceptionally biased..
      How can a man die better than facing fearful odds for the ashes of his fathers and the Temple of his Gods?

      Comment


        #4
        Re: Federal Budget 2005-06

        what is PSDP?
        I know that you believe that you understood what you think I said, but I am not sure you realize that what you heard is not what I meant.
        - Robert McCloskey

        Comment


          #5
          Re: Federal Budget 2005-06

          Will a mini-budget follow suit or not?

          Comment


            #6
            Re: Federal Budget 2005-06

            AJ: PSDP..I believe is Public Sector Development Programmes..because of increased fiscal space after debt repayment and rescheduling there has been an increase in it..

            beta: To my knowledge there hasn't been a mini budget since about a year after Mushy took over..
            How can a man die better than facing fearful odds for the ashes of his fathers and the Temple of his Gods?

            Comment


              #7
              Re: Federal Budget 2005-06

              Zakk, what programmes does it include?
              I know that you believe that you understood what you think I said, but I am not sure you realize that what you heard is not what I meant.
              - Robert McCloskey

              Comment


                #8
                Re: Federal Budget 2005-06

                That is probably in the nitty gritty details AJ..I'd imagine it includes the so called mega projects..Gwader etc
                How can a man die better than facing fearful odds for the ashes of his fathers and the Temple of his Gods?

                Comment


                  #9
                  Re: Federal Budget 2005-06

                  interesting to note that the presidency expenses have to shoot up by 179% but the common man does not that get much of relief...

                  ISLAMABAD, June 6: The financial allocations for the presidency increased by 179 per cent to Rs261.61 million in the budget for 2005-06 as compared to Rs93.5 million in 1999-2000. During the year 2005-06, the government allocated Rs261.61 million for “staff household and allowances of the President” as charged expenditure. In the 1999-2000 budget, Rs93.56 million was allocated under the same head.
                  http://dawn.com/2005/06/07/nat5.htm
                  Oh, everything's too damned expensive these days. This Bible cost 15 bucks! And talk about a preachy book! Everybody's a sinner! Except this guy.

                  Comment


                    #10
                    Re: Federal Budget 2005-06

                    they say the extyrenal debt is gone down by a $billion
                    http://dawn.com/2005/06/08/top2.htm

                    The NFC award finally expected next mnth
                    http://dawn.com/2005/06/08/top6.htm

                    Comment


                      #11
                      Re: Federal Budget 2005-06

                      i wonder what impact the NFC would bring into the picture...it's meeting similar criticisms as the NSC did...i wonder if a common ground would ever be reached...

                      Another report shows the figures with house rents for govt/military officials go up by 143percent.
                      http://dawn.com/2005/06/08/top7.htm
                      the link has figures with rent allowances for various govt BPSs and includes salaries for military NCOs, JCOs, Cadets and Officers too.

                      on ground inflation is existant...how much do these meagre rises mean anything...?

                      Zakk youre right, the cross effects nullify...

                      Comment


                        #12
                        Re: Federal Budget 2005-06

                        hmm good news here; they say the new budget out, China is the competitor, India left behind...

                        http://www.iht.com/articles/2005/06/...berg/sxmuk.php

                        Comment


                          #13
                          Re: Federal Budget 2005-06

                          Business hails Pakistani budget

                          Traders in Karachi hailed the new measures
                          Pakistan's latest budget has been widely welcomed as pro-business, helping the Karachi Stock Exchange enjoy a 3% rise in Tuesday trading.
                          The budget cut a number of business taxes, in addition to dedicating more money for defence and social and development spending.

                          "It's a positive growth-orientated budget," said Arif Habib, former boss of the Karachi exchange.

                          Pakistan's economy is currently strong, growing at 8.4% this fiscal year.

                          The government's tax cuts include a 1% rebate on the tax firms must pay when listing on the stock exchange, and exemptions from capital gains tax for investments in agriculture-related sectors.

                          The finance ministry also announced an increase in the tax-free allowance on profits from stock investment to 150,000 rupees ($2,514; £1,375) from 100,000 rupees.

                          There was also no mention of any increases to Capital Value Tax on share transactions, which some investors had feared.

                          Development analysts criticised the budget, however, saying it did not do enough for ordinary people.

                          http://news.bbc.co.uk/2/hi/business/4616463.stm
                          Oh, everything's too damned expensive these days. This Bible cost 15 bucks! And talk about a preachy book! Everybody's a sinner! Except this guy.

                          Comment


                            #14
                            Re: Federal Budget 2005-06

                            So what kind of a budget would benefit the ordinary people? Give some examples please. Where you would take the money from and put where and how long can Pakistan sustain that particular project and at what cost?
                            I know that you believe that you understood what you think I said, but I am not sure you realize that what you heard is not what I meant.
                            - Robert McCloskey

                            Comment

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