Pakistan Budget 2008-09 - Brief
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A brief statement of the budget has been issued by the government before the start of formal budget meeting at 6:15 pm today. Generally the budget is an addition to the woes of the poor as most of the subsidies on oil and food items have been slashed. A very aggressive revenue target has been set instead of bringing new sectors under the tax umbrella. The brief is available below as taken from the Reuters Website. We will keep you updated about the budget as further details pour in to us. It is worth noting here that the Defence Budget of Pakistan has increased from Rs. 275 billion to Rs. 296 billion (approx $ 5 billion) in the current year. In other words our defence budget is 45% of our total country exports while it is generally around 10-15% in most of the countries in the world. The total outlay of the budget is estimated at 2,010 billion rupees, according to the government’s “Budget in Brief” document, a copy of which was obtained by Reuters hours before the budget announcement.
Some 550 billion rupees is earmarked for development spending, though the report noted it expected an operational shortfall of 77 million in development spending.
Privatisation Minister Naveed Qamar, the de facto finance minister, is scheduled to announce the budget at 06:15 p.m. (1215 GMT).
In an interview on state-run television on Tuesday, Qamar said the budget aimed to provide targetted subsidies for the very poor rather than subsidise the entire nation. Total budget subsidies on fuel oil, electricity, fertilizers and food items to be reduced to 295.20 billion rupees from 407.48 billion rupees, the budget document said. Economic growth is forecast at 5.5 percent in 2008/09, slowing from 5.8 percent in 2007/08. The government has targeted a reduction in the fiscal deficit to 4.7 percent of gross domestic product (GDP) in 2008/09 from an expected deficit of around 7.0 percent this year. Defence spending in 2008/09 would be 296.07 billion rupees, compared with 275 billion rupees last year, while education would be 24.62 billion rupees.
Tax revenues have been targeted at 1,251.462 billion rupees for 2008/09, with 496 billion rupees expected from direct taxation and 755.462 billion rupees from indirect taxation.
This compared with 1,005.569 billion rupees last year.
Net federal government revenue receipts, which includes non-tax revenue and is less the amount taken by the provincial governments, is expected to increased 23.1 percent to 1,111 billion rupees in 2008/09, the budget document said. (Reporting by Reuters) |
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[...] This cup of tea was served by: Pro Pakistan [...]
[...] This cup of tea was served by: Pro Pakistan [...]
good budget
it is mix budget.no relief to the educatinal or higher education.no tax on stock exchange shows the dual nature of government.and the increase in tax on electricity and on other utility bills is a” try to end the poor “.No tax on elite class show govt has stronge relationship with them.in the whole its a budget not for Middle man.just only for elite class and for the big fishes just like the member of parliment.
Exactly Adnan! The budget is made for elites of the society and middle and poor class were the target of it. Imposing no tax on stock exchange came as a shock to me and the increase in taxes on all other essential items is another shocker.
in my opinion pakistan is country that should be sold to america or india. pakistani nation which actually is nation will never compromise for the betterment of Pakistan. a nation whose leader is an internatonal corrption master Mr. Zardari, can never go forward. The poor will remain poor untill death and the corrup minds like the Natioanal asembly members, beaurocrates, even any peson who has been given ant authority including judges, army, police will eat and tear every dot of pakistan and I am sure that we Pakistani will be no more inhistory very soon.
It’s sad, but I agree with Arshad. (Though I don’t think they will pay anything for Pakistan). I’ve lived abroad for many years and recently moved back. This may not be the venue to talk about my experiences upon return, but it seems like everyone if out to cheat everyone else. Even the simplest things, like opening a Bank Account is a big big hassle. Corruption runs in our veins now and who ever tries to do anything honestly is considered dumb.
I just wish and pray that we all see the light soon, and do something for the betterment of the country and others for a change!!! There has to be a limit to how much money one has to accumulate before feeling satisfied.
@ Arshad! I am as much disappointed with the system as you are but i beg to disagree on the future. Brother we have to change things at least in our lives. We have to be different and make sure we don’t get tainted in the system as per the generally accepted requirement to survive because leaders tend to disagree and always make their own way out of the crises.
@ Z -Man! I tend to agree with you as well as we all know these things as our common problem. Z- Man this pro pakistan is a very small effort on our behalf to bring change in the image of our country as well in our thoughts. I am glad that you people dropped your feedback here. I would appreciate if you write a brief article on this situation and we can generate a discussion on it as well. That would surely open up the things .
i agree with Junaid
malik g koi aik kharab saday wal weee kal daeeeooo ong tay to kalna nahi meenu das day ma aaap a jana waaan
main MNA HAJI RIAZ NA118 shahadara town lahore to bolda piyaa wa
The Education Sector allocation is laughable. F**k Zardari.
Did anyone bother to know that minister, whether they are from National Assembly or Provincial Assembly, are using vehicles more than 1600 cc which is a clear violation of directions given by Prime Minister Yousuf Raza Gillani. see we live in country having almost devastated economical conditions and our leaders discuss our internal matters in one of the most expensive cities and countries of the world.are we really a third world country? we must have to think about it!!!!
Did anyone from the Govt bother to see the imorted brand new CNG buses lying at Karachi port (M.I.Yard)
anyone can see these 40 or 50 green colour buses on the left side while passing from Jinnah bridge to ICI or straight to Mauripur.These buses not cleared more then one year reason best known.If buses not cleared they might get scraped & the highups will sell in auction as scrap. (the duty is abolished in budget)
I have travelled a lot and almost seen major countries I feel disapointed when first time landed Kaachi Airport and on roads seen traffic signal violation openely,wether buses,coches,bikes,people with suits and tie educated ladies and all. through out the hotel way,however in some areas less. My immediate reaction was if the system is like this them am sure the whole country system is like from top to bottom. and people will not come to visit your beautiful country if there is no rule of law and justice. Many of my friend who travel once now says its not advisable to travel again especially chances of killed by accident.Its advisable for high ups to control atleast signal violation as this will have good impact of people who are traveling firsttime to you country.
i like this budget because this budget should increase sucess for Pakistan from Salman ahmed Khan.
it was really an eye opener for me specially what nomi and nusrat shared.Allah alone can save this country. with only 30 % literate people and that also includes the people who can hardly read and write their names, is there any change we can bring from this forum? is there anything we can do for the poors that now includes seven classes of the economic sector - the lower upper, the upper m iddle and lower in middle and upper middle lowere in lower class? Can someone suggest how to meet health, educationa nd food expenditures?? Geo telecasted a story of Shamim and khadim and there are uncountable shamim and khadim! what about them??? i volunteer myself if there is any thing we can do from this platform that can bring a smile to the people of pakistan because nobody else is going to do it for us. With the help of Allah we all together can sure do something.
> is there any change we can bring from this forum?
I think it’s great change that we can communicate so easily today through the internet. Sharing thoughts, learning about and often adapting other people’s views, is already changing the way we interact with each other on a global scale.
Humans have a tendency to bond and care for each other. (That has to do with how we are raised by our parents, we’re not able to survive without care from others.) We start applying social skills to the group of people we know and we have a tendency to fear and reject people we don’t know, not belonging to our group.
Merely the fact that we get in touch more easily and more frequently with other people makes us more known and makes us care a bit more. Whether by small talk or flame debate most interaction somehow makes us feel more connected.
In the long run people start to bond and care more. And when people do, they start applying skills to make things better for each other. They somehow figure out how to get problems out of the way that would have never been solved if too few people would care.
Chatting on a forum won’t solve issues short term, but I’m positive that sites like pro-pakistan.com have an important role in getting people to align thoughts and care enough to take little steps in changing things that need attention.
As i have always said that the basic purpose of this site Pro-Pakistan is not to earn money or to get some popularity but it is an effort by us to bring change in our society and our country. That is one main reason we do not only focus on politics but also on the positive things of our country.
I am glad that people like Eric, who are not nationals of this country but still being good human beings care so much for others. This is the type of people whom we need to be at power corridors of the world rather then the hate mongers we have today as our leaders around the world.
Moreover, Kamran, i believe that the mere thought of changing the things is the very first step towards the actual change and i am glad we are on our way to it.
I pay rich tribute to the traffic officers of clifton check post post last week who tried to stop a Red
colour Prado jeep with tinted glass and plastic number plate,but the jeep
ran away with full speed police immediately started chasin on their new vehicles
which given to them recently.saw the complete chase till boat basin
where the jeep was intercepted. I was pleased very much that there are officer like them in our traffic. and our police are not as that currupt what the media/general opinion of public. Our media should also highlight the posivite thing things about police too.
.and we as a citizen should also obey the law too. by stop violating traffic laws etc
God bless our city and Pakistan.
I agree with you Nusrat that we Pakistani’s have this habit of criticizing our country and we never appreciate the good things. That is one reason i wrote a blog on police force where i recommended an increase in their salary and to give them new equipment.
message to Mr Asif Zardar, Prime Minister Yusuf Ghalini,PPP leaders and others.
Can anyone say about the letter which given to President by our Shaheed leader Mohtarma Benazir Bhutto on her arrival to Pakistan in which she has given three names who will be held responsible in case of her assasination in Pakistan.Can some one ask question? We as a worker have right to ask and nation should know.
In Pakistan we have yet to know the killers of Zia ul Haque and Musaf Ali Mir so Benazir is a gone case!
time will tell as soon as the investigation begans through United Nations and if PPP govt is sincere in solving the case otherwise agree with you Benazir is a gone case.Just heard Mr Salman Taseer is the head of inquiry commision handling this case.This was on Business Pluss channel few days back.Lets hope for the best
the budget may seem to be attractive but it would actually be fruitful if it would be implimented and followed correctly.
i think so the budget looking so attractive INshALLAH the country situation goes better day by day
This budget can not change the condition of street man. there is no relief given to the poor
except the bb card. this card only give 1500 to a poor man. in this age of inflation 1500 is a expnnse of one day.
hello guys
MUSHRAF shahib Zardari shahib cay
jay apa doyee rus bathy sa manaoo kon way
Zardari shahib
janab
NAWAZ sahib jo ha nay………….
BY naseebo LAL
tax on cash withdrawal must be removed
Are these ladres our well wishers or wellwishers of PAKISTAN??????????????
One thinks that are these the people whom we think will be the savers of pakistan? Their core issue is to reinstate the judges while they are ignoring the main thing and that is THE ECONOMY , THE WELFARE of PEOPLE, THE DIGNITY OF PAKISTAN IN THE WORLD. These are the people who were against Musharraf for his friendship with America but right after elections MR. 10% was making it clear to the AMerican officials that elections were fare. Later our Finance Minister also gave his visit to US i dont know why he went their????????????
MAY ALLAH GIVE A VISION TO PAKISTANIS THAT COULD SEE THE PERSON INSIDE……….
is it for poor people?
where is the slogan roti, kapra aur makan?
there is no roti no kapra no makan.
we are missing aur beloved leader BENAZIR BHUTTO.
ACCORDING TO MY POINT OF VIEW THIS BUDGET IS JUST FOR THEIR SELVES.
A O A
ACCORDING TO MY POINT OF VIEW. THIS IS NOT FAIR. AS AN ECONOMIST IT HAS NOTHING 4 THE POOR. A GOOD BUDGET MUST CONSIST ON THE ACTIVITIES WHICH ARE NECESSARY TO DECREASE POVERTY, INEQUALITY AND UNEMPLOYMENT. AND UNFORTUNATELY IT HAS NOTHING.
ALLAH SAVE OUR PAKISTAN
You should check your figures before you quote them.
$5 billion of Defence budget
$19 billion of Pak Exports
makes it 26% of our exports and NOT 45% as you put it!
it is abad budget,which is not acceptable for a common citizen.
As for our budget is concerned,apparentely it is estimated and finally allocated a huge amount in different sectors but the actual figure is different.This is an irony that our so called patriots and democratics leaders are not serious and sincere in these sensitive matters.What ever amount they fixed,a minor is provided and rest of the part consume to meet their personal expenditures.Somehow,i agree to mrs Zainab.