budget 2019-20

Pay hike is insufficient considering massive rupee depreciation, accelerated inflation

PFC chief terms budget balanced and development-oriented

Hafeez Shaikh says he is ready to 'offend people' to meet revenue target

The government has not only increased the cost of living, but it has also increased the cost of surviving

Spends Rs2.91tr on public debt retirement in outgoing fiscal year

8.2% deficit projected. Income tax threshold slashed. Customs duty on 2,400 tariff lines up.

Rs2.435 billion for twelve continuing and new plans in the federal Public Sector Development Programme (PSDP)

Slashes salaries of ministers by 10%; people earning Rs50,000 per month will have to pay tax

Task will be to devise, implement programmes for social protection

Pay, pensions rise; income tax threshold slashed; FBR collection target set at Rs5.5t; 8.2% budget deficit projected

According to the budget draft, Rs29.51b have been earmarked for salaries and Rs33.37b pensioners

Amount of Rs120bn have been reserved for the ongoing hydel power projects and Rs697m for new projects

Announces to launch protest ‘at all forums’ against govt’s vengeful policies

Rs64.2 million earmarked for the four ongoing projects

As the opposition senators shouted slogans against the budget, the chairman adjourned the session till Friday

Govt will provide Rs271.5 billion in FY20

Rs15.383 million allocated for 500 police barracks in Islamabad

Funds will be utilised to improve water productivity, crop yields

Govt allocates Rs1.171 billion against the outgoing year’s revised estimate of Rs980m

Govt imposes 17% sales tax on textile, leather, carpet, sports goods and surgical instrument sectors

Duty levied on cars of all engine capacities

Govt withdraws 3% tax on price differential to close window for legalising black money

Govt eyes collection of Rs359b against Rs486b in previous year

Proposes harsh, inflationary taxation measures to qualify for IMF programme

The Express Tribune reviews new taxes proposed in FY20 and imposed in previous years

Comparing to last few years when defense budget grew by average 11%, current raise is nominal

Govt is coming after all those who looted public wealth, says Imran Khan

Planning and development minister vents anger on his servant after forgetting important budget file at home

Amount is insufficient for Rs8tr worth of ongoing and new projects that will take 12 years

Minister of State for Revenue Hammad Azhar presents the budget

Minister of State for Revenue Hammad Azhar will be brief parliament on the budgetory proposals

PM Khan’s iteration of Pakistan being one of the most charitable nations is quite a paradox

The key is to carefully differentiate between wasteful and necessary govt expenditure and undertake some bold reforms

Grows just 0.85% due to water shortage in FY19 compared to 3.8% target

Improvement seen in electronics, engineering and wood products

It comes mainly due to setting up of new CPEC power plants

Commerce adviser meets PM to seek incentives under tariff rationalisation policy

Finance minister makes pitch for toughest ever budget

PSX hits three-year low at 34,567.55 points; rupee drops to 150.10

Significant amount will now be recovered under a deal with the IMF

The decline in reserves was attributed to payments on account of external debt servicing

Major increase of Rs1.2tr in public debt came from 44% rupee depreciation

Finance adviser makes pitch for toughest ever budget

China Development Bank provides $2.23b worth of commercial loans

Major challenges during current fiscal year were runaway imports, swelling trade and current account deficits

Another meeting scheduled for Wednesday to discuss post Budget 2019-20 strategy

Could also increase tax on interest income to 30%

ADB, World Bank expected to provide $2-3b in assistance

Minister insists provinces must mobilise own resources

Proposes to offer educational institutions, jewellers, SMEs, builders to pay lower than standard tax rates