Federal Cabinet approves Rs 1.1 Trillion budget for for 2005-2006
Revenue target at Rs.690 billion estimated
Bank borrowing for budget deficit at Rs.98 billion
Rs.20 billion receipts from privatization estimated
Rs.272 billion allocation for PSDP estimated
Current budget expected to be 21.7% up as compared to last year
estimated
CBR collected Rs.451 billion net revenue 2004-05
Capital receipt is estimated at Rs.51 billion
Non-food inflation grows by 6.9%
Exports were up by 14.6% in the first ten months of FY05
Pakistan in top 5 economies of Asia
Sales Tax target estimated at Rs.294 billion
PDL target Rs.15.9 billion
GDS target Rs.16.6 billion
10000 duty free tractors to be imported
High demand for tractors in the economy
Rs.100 billion loan was given to agriculture in 04/05
64% increase in irrigation expenditure
Provincial share in Budget estimated at Rs.284 billion
External borrowing for budgetry support at Rs.212 billion
Income Tax collection estimated at Rs 206 billion
7.9% growth in service sector
Global bonds issue Rs.30.5 billion
Telecom: Teledensity increased by 125% in mobile phones
Telecom: $3 billion investment in telecom sector
Telecom: 15.6 billion net receipt from telcom sector
Banking: Growth rate 21.6%
Insurance: Growth rate 21.6%
CVT target increases to 4 billion
Rs.43 billion will be used by WAPDA for developing water resources
In next 4 years 30 lac people to be given house loan
1 million families expected to benefit from Khushal Pakistan Plan
Rs.700 million allocated in Khushal Pakistan
Khushal Pakistan Program expenditure estimated at Rs 7.5 billion
Lady health visitors to be appointed in each district
Rs.2.3 billion on skill development program allocated
Prime minister one village program to be started in each village
13 lac more employments
5.1 million jobs provided
1.3 million new jobs to be provided in next budget
Salaries of grade 1 to 16 employees to be increased by 30 percent
Minimum wages raise to Rs.3000
Minimum pension from Rs.700 to Rs.1000
Rs.250 billion to be spend on pensions and new pay scales from 1st
July, 2005
Loans for widows from HBFC under Rs.1 lac to be exempted
Primary school intake 56%
Literacy rate improves from 45% to 53%
Petroleum development levy target set at Rs.15.9 billion
Population of mobile phone increases by 125%
No more subsidy for Pakistan Railway
Pakistan Railway to be given Rs.9.8 billion
Savings in relief program of Rs.5 billion
Lawari tunnel work to be started
Developemt of roads in the northern areas
Indus Highway to be built
Karachi and Peshawer to benefit from new Indus Program
Rs.20 billion for National Highway Authority
6.2 % growth in construction
134 companies registered with SECP
4 billion $ investment in textile sector
Karachi Textile City being built
Textile exports to touch $10 billion
Ginned cotton production up by 45%
462% increase in air conditoner buying
2004-2005 31600 tractors 1300 buses production
50% increase in motorcycle production
New dams are beign built and existing dams are being extended
25% additional land will be irrigated in the coming year
Resources will be made available for the new dams when they are
announced
Construction sector growth by 6.5%
250000 new gas connections
21 millions homes will get gas
13000 villages to be provided electricity
15 billion for water development project
$ 4 billion invested in Textile Industry
Neelam Jhelum electrical unit work shall start on it this year
Long term planing till 2010 for energy sources
Textile: Yarn Production Increases by 18%
Textile: Fabrics Production Increases by 28%
From 1999 we started a new struggle. In 2004, it was announced by
Shaukat Aziz 6.6% GDP growth should be achieved, but in one year we
have achieved 8.6% GDP growth
25% additional land will be irrigated in the coming year
Additional income of Rs. 147 billion was achieved by farmers in 2004–
2005
3.8% budget defict expected
Development budget up by 34.7%
Current expenditure to be incresaed by 18%
CBR revenues up by 17%
Poverty reduction expenditures increase by 16.4 percent
Government servants pay scale revised by 15 %
Pension shall be increased by 10% enhancement shall be applicable from
1st July 2005
HBFC to give new packages
353 development plans to be accomplished
Rs.92.8 billion to spent on infrastruicture
7,000MW more electricity to be added by 2010
Public private partnership to be promoted
529 kilometer gas line to be laid down
New income tax plan is based on self assessment
5% on phosphate duty to be abolished
20% duty on tractors to be 15%
Mobile phones users are 10m, Rs.3 bn fresh investment already made
Duty on 55 items of plastic to be considered for duty reduction
Home appliances raw material duty to be abolished
Machinery production equipment duty to be abolished
Reduction in duty on 1500 cc cars by 50%
Reduction in duty on 1600-1800 cc cars by 65%
Cycle parts duty reduced
PSF duty reduction propose
CKD duty reduction proposal
Proposal for reduction in duties on CNG kits for buses
Proposal for reduction in duties on raw material used in textile and
leather
Changes in DTRE scheme proposed
Textile: All imports on textiles to be zero rated
Textile: Textile export to be deregulated
Duty on raw material and spare parts reduced to zero
Tax on mobile phone to be reduced to Rs.500
SMEs to be given sales tax exemption
Sales tax withdrawn on Shadi Halls
Telecom: Prepaid calling card tax to be at 15%
Telecom: WLL service excise duty to be implemented
Tobacco: Retail price to cigarettes to be up by 7-9%
Minimum tax floor on salaried class at 3.5% to 30%
TFC income to be exempt from withholding tax upto Rs.15 lac
7% GDP growth rate target
Banking: Corporate tax on banking reduced to 38%
Private companies tax reduced to 35%
Insurance companies capital gain tax exempted
1% reduction on listing fees in stock exchange
20% tax rate on conversion of companies
Ship breaking withholding tax reduced 1%
BMR machinery which is not being manufactured locally for such
machinery duty is proposed to be reduced to 5%
Withholding tax 0.01% on cash withdrawals of Rs.25000 and above