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    Pakistan Budget

    Nobody has yet posted anything on the recent budget on Pakistan, so I thought I'd get the ball rolling. The good things I noted from the budget was that the economic crisis that this government inherited has been arrested, and that the Pakistani economy is slowly on the upward trend. The finance minister has predicted that GDP growth will rise to 6% per annum (from 4.5% at present), foreign exchange reserves are stable, tax revenues continue to increase, and there is a bumper wheat crop.

    What is encouraging is that in this budget there are huge funding increases to tackle poverty, to encourage the IT sector and extra social funding. Overall there is a 25% increase in funding to tackle poverty, and 15 billion rupees for the IT sector. Also, there is a 24% increase in development spending, and 30% more funding for the provinces - which is very welcome, as it will tackle some of the problems of the provices by giving them extra funds to spend on literacy and poverty alleviation.

    http://www.dawn.com/events/bud2000-2001/index.htm


    #2
    I just read the Sindh budget and Kashmir budget; money seems to be put in the right places, like health, education sectors etc. Especially the police reform budget was interesting. It’s high time that those ppl got what they deserved. Plus the government should know that a great number of police officers are not even living in Pak – they cashing their ‘impressive salary’ without doing anything – same is true for government teachers.

    In Azad Kashmir again focus will be on poverty control. Communication and transport system improvement planning’s are warmly welcomed. I still haven’t read all the text of Pak budget – lekin it’s great to see that education is getting a higher priority under this government rule.

    I would like to hear what Farid bhai thinks about Sindh budget – his critical yet constructive views could be interesting to judge this budget even better.

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      #3
      I have not yet read the 5 provincial budgets, but I would not be surprised if they stick to the same principles as the federal budget. This is the first budget in Pakistan's history that has massively increased funding to the provinces, thereby giving the provinces more finacial autonomy. Its the first budget to direct huge funds to poverty alleviation through programs like "the small works program", and increased general social funding. Also, a share of the privatisation receipts will be used to tackle poverty, and spending on the national infrastructure has been increased by 24%!

      What is particularly welcome is across the board tax cuts for the common working person - with some taxes cut by 80%! At the same time the government will increase tax revenue by continuing its tax drive etc. Also, very welcome is the 15 billion rupees set aside for the IT industry.

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        #4
        Punjab Budget highlights: http://www.dawn.com/2000/06/29/top5.htm

        Budget for NWFP : http://www.dawn.com/2000/06/27/top1.htm

        I haven’t seen Baluchistan’s budget is it not ’out’ yet or what?

        Comment


          #5
          It is not yet clear how and on what projects the government is going to spend the allocated monies for the poverty reduction.

          ------------------
          Sarfraz Khan

          Comment


            #6
            >> It is not yet clear how and on what projects the government is going to spend the allocated monies for the poverty reduction.<<

            Isn’t that left to the provinces to decide? Doesn’t Sindh for instance have pretty clear plans about which projects will either be started or completed etc – same about Kashmir; Can’t really remember details about Punjab budget, but I think Punjab didn’t have clear plans about this, I’m not sure though.

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