Incentives to facilitate different sectors in budget announced


ISLAMABAD, May 26 (APP): Minister for Finance, Muhammad Ishaq
Dar on Friday announced that around 5.5 million women-led families
who do not have economic means for sustenance, continued to be
provided with cash transfer of Rs.19,338 per annum.
In his budget speech for year 2017-18 in National Assembly
here, he said for this purpose, Rs.121 billion are proposed to
be allocated to Benazir Income Support Programme.
He said this allocation has increased to 300 % of Rs.40
billion in fiscal year 2012-13. During this period, the number
of recipient families have increased from 3.7 million families in
2013 to around 5.5 million.
In addition, around 1.3 million primary school children
are receiving cash grants, he added.
Announcing the tax incentives with an aim to give facilitation
to different sectors, he said under leadership and personal
supervision of Prime Minister Nawaz Sharif through Cabinet Committee
on Energy, approximately 10,000 MW of electricity will be added to
national grid by summer 2018. This will Inshallah eliminate load-
shedding, he said.
Investments will be made to speed up process of development
of Gwadar including development of airport, hospital and
desalination plant while state will continue to subsidize bills of
low-income domestic consumers up to 300 units per month in shape
of electricity subsidy.
He said for farmers in Balochistan, the Federal Government
will pay a portion of their electricity bills to run agriculture
tube wells.
The Federal Government’s will continue to provide electricity
subsidies on tube-wells in Balochistan. Off-peak rate of Rs.5.35 per
unit for agriculture tube-wells will continue in the 2017-18.
Ishaq Dar said an amount of Rs.118 billion has been proposed
in 2017-18 for these measures.
The Prime Minister’s youth schemes which include business
loan scheme, interest free loan scheme, training scheme, skill
development programme, fee reimbursement, and laptop
programme will continue. For this purpose Rs.20 billion is proposed
in fiscal year 2017-18.