Budget-Highlights

351

ISLAMABAD, May 26 (APP): Finance Minister Ishaq Dar
Friday presented the federal budget 2017-18 in the National
Assembly.
– The PML-N government got unique distinction of
presenting its 5th budget
– GDP Growth 5.28%, highest in 10 years
– Rs 1001 bln, an increase of 40% in Federal Development
Programme
– Fixed Sales Tax on DAP, to cut GST from Rs 400 to Rs
100, incurring a cost of Rs 13.8 bln
– Electricity at Rs 5.35/unit off-peak for agro tubewells
– End of Sales Tax, Customs Tax on new and upto five year
old Combined Harvesters
– End of GST on imported Sunflower and hybrid seeds of
Canola
– Sales Tax cut on imported machinery for poultry from 17%
to 7%
– Loadshedding in industries ended, remaining to end by
next year
– Rs 404 bln allocated for electricity shortage measures
– Growth in industrial sector 5.02%
– Tax revenue increased 81% in 4 years
– Next year tax revenue target Rs 3521 billion; up by 14%
– Farmers given record loans of Rs 600 bln, under PM’s
agriculture package
– Mark-up for farmers with 12.5 acres lowered to 9.9% from
14%-15%
– National Bank, ADBP and others to give upto 2 million
loans
– Rs 1001 bln to be disbursed as loans for farmers,
– MSCI index to add Pakistan in emerging market index on
June 1
– Price Waterhouse Cooper Pakistan will be part of G20 by
year 2030
– Pakistan’s Stocks among top five Asian Stock markets
– Per head income up by 22% in 4 years from 1334 to 1629
US dollars
– Forex reserves increased to Rs 21 bln
– Pakistan in top ten countries with best economic reforms
– 10,000 MW to be added to national grid by next year
– 5.5 million family to get support under social safety
net through BISP; Rs 121 bln to be allocated
– Subsidy to continue for users of 300 units pm
electricity
– Subsidy for agro tubewells for farmers in Balochistan to
continue, Rs 5.35 per unit price off peak rate in rest of
country to continue.
– All ongoing PM schemes to get Rs 20 bln
– A Rs 6 billion IT Software Park in Cooperation with
South Korea
– New IT Companies to get three year Income Tax exemption
– Withholding tax on mobile phone calls cut from 14% to
12.5%, Excise Duty cut from 18.5% to 17%
– Custom Duty cut on smart mobile phones from Rs 1000 to
Rs 650
– Rs 38 bln to be spent on improvement of water supply
including RBOD-I, RBOD-II and Kacchi Canal
– Rs 320 bln to be spent on improvement of roads, new
motorways