Explaining the budget: Yellow cab scheme to provide 50,000 rural jobs
Rs5b subsidy provided for fertiliser, federal govt asked to provide matching amount.
The government has allocated Rs96.036 billion for the social sector, Rs137.532 billion for infrastructure development, Rs20.720 billion for the production sector, Rs9.493 billion for the services sector, Rs8.209 billion for others and Rs18.010 billion for the special packages. DESIGN-FAIZAN DAWOOD/FILE
LAHORE:
The budget encompasses the government’s vision for the next four years. It focuses on job creation, skill development and growth. The idea is to spare the common man any financial burden, Minister for Finance, Excise and Taxation Mian Mujtaba Shujaur Rehman said at the post-budget press conference on Saturday.
The Planning and Development Board chairman and the finance secretary also answered questions from the media. All secretaries had been asked to attend the post-budget talk to assist the finance minister in the question-answer session, only a few were present.
In response to a question, Rehman said the cash balance was satisfactory. He said although utilisation was low it was still high compared to the previous financial year. “We have presented our vision for the remaining tenure and several development initiatives would be executed through this,” Rehman said.
The government has allocated Rs96.036 billion for the social sector, Rs137.532 billion for infrastructure development, Rs20.720 billion for the production sector, Rs9.493 billion for the services sector, Rs8.209 billion for others and Rs18.010 billion for the special packages.
The government has also reserved Rs40 billion for 19 special initiatives (informal interventions) and Rs15 billion discretionary funds for the upcoming year.
Rehman said the Rs34 billion shortfall in revenue collection from indigenous resources was due to certain issues with the federal government on sales tax and collection of luxury taxes on big residences. The government had imposed taxes on luxury and big cars while small cars, which constituted 60 per cent of all cars in the province, have not been taxed, Rehman said.
The government needed to create around a million new jobs to accommodate the unemployed youth, he said. The budget focuses on job enhancement and improving the growth rate, Rehman said.
The government wants to conduct the local bodies’ elections and has allocated Rs3.5 billion for it in this budget, Rehman said.
The government has not offered subsidies on tractors but has allocated Rs5 billion for subsidised fertiliser on great demand from farmers, he said. On the request of the Punjab government, the federal government has also allocated Rs5 billion subsidy on fertilisers, Rehman said.
The government will revive the Yellow Cab Scheme to provide greater job opportunities for the youth. Loader vehicles will be provided to people in rural areas...this will provide jobs to almost 50,000 families, Rehman said.
In order to alleviate poverty in south Punjab, the government has allocated 36 per cent of the ADP for the region.
The government increased budget for the Police Department with the aim to improve trainings and to establish the Counter Terrorism Department, Rehman said.
Rehman also revealed a document The Citizen’s Budget 2014-15 that has been prepared by the government with technical support from the Sub-National Governance Programme.
Published in The Express Tribune, June 15th, 2014.
The budget encompasses the government’s vision for the next four years. It focuses on job creation, skill development and growth. The idea is to spare the common man any financial burden, Minister for Finance, Excise and Taxation Mian Mujtaba Shujaur Rehman said at the post-budget press conference on Saturday.
The Planning and Development Board chairman and the finance secretary also answered questions from the media. All secretaries had been asked to attend the post-budget talk to assist the finance minister in the question-answer session, only a few were present.
In response to a question, Rehman said the cash balance was satisfactory. He said although utilisation was low it was still high compared to the previous financial year. “We have presented our vision for the remaining tenure and several development initiatives would be executed through this,” Rehman said.
The government has allocated Rs96.036 billion for the social sector, Rs137.532 billion for infrastructure development, Rs20.720 billion for the production sector, Rs9.493 billion for the services sector, Rs8.209 billion for others and Rs18.010 billion for the special packages.
The government has also reserved Rs40 billion for 19 special initiatives (informal interventions) and Rs15 billion discretionary funds for the upcoming year.
Rehman said the Rs34 billion shortfall in revenue collection from indigenous resources was due to certain issues with the federal government on sales tax and collection of luxury taxes on big residences. The government had imposed taxes on luxury and big cars while small cars, which constituted 60 per cent of all cars in the province, have not been taxed, Rehman said.
The government needed to create around a million new jobs to accommodate the unemployed youth, he said. The budget focuses on job enhancement and improving the growth rate, Rehman said.
The government wants to conduct the local bodies’ elections and has allocated Rs3.5 billion for it in this budget, Rehman said.
The government has not offered subsidies on tractors but has allocated Rs5 billion for subsidised fertiliser on great demand from farmers, he said. On the request of the Punjab government, the federal government has also allocated Rs5 billion subsidy on fertilisers, Rehman said.
The government will revive the Yellow Cab Scheme to provide greater job opportunities for the youth. Loader vehicles will be provided to people in rural areas...this will provide jobs to almost 50,000 families, Rehman said.
In order to alleviate poverty in south Punjab, the government has allocated 36 per cent of the ADP for the region.
The government increased budget for the Police Department with the aim to improve trainings and to establish the Counter Terrorism Department, Rehman said.
Rehman also revealed a document The Citizen’s Budget 2014-15 that has been prepared by the government with technical support from the Sub-National Governance Programme.
Published in The Express Tribune, June 15th, 2014.