ISLAMABAD, June 11 (INP): Minister of State for Revenues Hammad Azhar presented a total of Rs 7,022 billion budget 2019-20 amid protest from opposition parties in the National Assembly Tuesday.
Following are the key features of the budget 2019-20:
The total outlay of the budget 2019-20 is Rs7022 billion.
Ministers have agreed for 10 percent cut in salaries.
Rs 40 billion subsidy will be provided on gas and electricity.
Salaries of civilian employees from grade 1-16 have been increased by 10 per cent.
GST to remain unchanged at 17 percent.
5.2 percent federal excise duty on 1000 CC locally developed vehicles.
5 percent federal excise duty on the 1001 to 2000 CC locally developed vehicles.
Sales tax on sugar increased from 8 percent to 17 percent.
Rs 100 billion for soft loans under Kamyab Jawan Program.
Rs 1,000m for Kartarpur development.
Rs Rs 1,266 million allocated for 16 projects for Aviation Division.
5 percent ad hoc relief for government employees from grade 17 to 20
10 percent ad hoc relief for armed forces employees
Tax net will be increased as only 20,00,000 people in Pakistan file tax returns of them 600,000 are employees.
Higher Education Commission has been allocated an amount of over Rs 28,646 million for the ongoing and new schemes. Pakistan’s Defence budget will remain Rs1150 billion.
No increase in civil servants of grade 21 and 22.
Rs3955 billion will be given to the provinces.
Pensions for retired employees increased by 10 per cent.
Minimum wage set at Rs17,500
Rs 210 billion has been earmarked to implement various physical planning and housing initiatives including Urban and Regional Planning Framework, Smart City Plans and Integrated Strategic Development Plans, including Prime Minister's Naya Housing Programme and slum upgradation programme.
Rs 45.5 billion has been allocated for Karachi’s development programmes The PSDP allocation for Climate Change Sector has been kept at Rs1102 million .
Rs 63.5 billion for special areas including merged districts of Khyber Pakhtunkhwa, Azad Jammu and Kashmir and Gilgit-Baltistan.
A special allocation for Rs 75 billion will be provided for equitable Regional Development in order to accelerate development of less developed areas and Rs 22 billion are set aside for 10 year development plan of merged districts.
The National Agriculture Emergency Program intends to spend Rs 290 billion in the next five years to boost the sector.
80,000 deserving people will be provided interest free loans every month Rs271 billion has been allocated for subsidy Trade deficit was reduced by $4 bullion.
Trade deficit stands at $22 billion.
The government has taken measures to boost exports.
Rs2891 billion has been allocated to pay the interests Rs70 billion has been allocated for water reservoirs BISP stipend has been increased from Rs5,000 to Rs5,500.
Rs 1,800 billion kept for development programmes including Rs 950 billion kept for federal development programme . PTI government will not receive any loan from State Bank of Pakistan to bridge budget deficit.
Government expenses will be cut from Rs460 billion to Rs 437 billion Pakistan facing $ 97 billion debt Trade deficit reached $32 billion Circular debt reached 1200.