Category: Budget 2016-17

ISLAMABAD, June 3 (APP): Federal government on Friday announced relief for government employees and the labour in the federal budget 2016-17. Fiance Minister senator Ishaq Dar in his budget speech said the ad-hoc increases of 2013 and 2014 would be merged in the basic pay scales, whereas 10 percent adhoc relief allownace on running basic… Continue reading Federal government announces relief for government employees

ISLAMABAD, June 3 (APP): Finance Minister Ishaq Dar Friday said during the fiscal year 2016-17, the Federal government would invest a sum of Rs.380 billion up from Rs. 280 billion allocated in the last year’s budget. Out of it, Rs.130 billion would come from the PSDP.

ISLAMABAD, June 3 (APP): Finance Minister Ishaq Dar Friday presented the federal budget for 2016-17 in the Parliament. Following are the highlights: • Economic Growth 4.71%, highest in past eight years • Per Capita income up to $1,561, growth of 17% • Inflation 2.82%; lowest in a decade • FBR Revenue target of Rs 3104… Continue reading Budget-Highlights

ISLAMABAD, June 3 (APP): The Part II of the budget speech of Finance Minister Ishaq Dar on Friday covered the areas of income tax, sales tax and the relief measures for government employees and pensioners. Following are the highlights: “INCOME TAX” RELIEF MEASURES: • Corporate tax rate reduced at 31% • Tax credit on stock… Continue reading Highlights of Budget Speech

ISLAMABAD, Jun 3 (APP): Minister for Finance Senator Ishaq Dar Friday proposed Rs 78 billion budget for Pakistan Railways for the fiscal year 2016 17. In his budget speech, the minister said that out of the total allocation Rs 41 billion are in Public Sector Development Programme (PSDP) for 40 development schemes and Rs 37 billion for… Continue reading Govt proposes Rs 78 billion budget for Pakistan Railways

ISLAMABAD, Jun 3 (APP): Following are the taxation measures taken in the Federal Budget 2016 17 for Customs Duty: Tariff slabs reduced from existing 5 to 4 by merging 2% slab and 5% slab in new 3% slab. 10% and 15% slabs substitute with 11% and 16% slabs respectively. Concessions of CD for Dairy, Livestock… Continue reading Customs Duty taxation proposals for FY2016 17

ISLAMABAD, Jun 3 (APP): Minister for Finance and Revenue, Senator Ishaq Dar on Friday announced that in order to stop mis declaration and to bring the tax structure in line with market prices, the rates of sales tax on mobile phones are being rationalized. In his budget speech, the minister said that the existing sales… Continue reading Dar announces increase rate of sales tax on mobile import

ISLAMABAD, Jun 3 (APP): The federal government on Friday announced reduction of customs duty on imports of LED lights and kept the exemptions for import of solar panels and related components. Finance Minister Senator Ishaq Dar announced the relief measures during his budget speech here at floor of the National Assembly. He announced that customs… Continue reading Duties relaxed on import of LED lights, solar panels

ISLAMABAD, June 3 (APP): The federal government was committed to developing and implementing policies and measures to enhance the socio economic empowerment of women. In a budget speech in the National Assembly, Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization, Senator Mohammad Ishaq Dar said that budget allocation are one of the major instruments to strengthen… Continue reading Govt to enhance socio economic empowerment of women: Dar

ISLAMABAD, June 3 (APP): The federal government was committed to developing and implementing policies and measures to enhance the socio economic empowerment of women. In a budget speech in the National Assembly, Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization, Senator Mohammad Ishaq Dar said that budget allocation are one of the major instruments to strengthen… Continue reading Govt to enhance socio economic empowerment of women: Dar

ISLAMABAD, June 3 (APP): Minister for Finance and Revenue Mohammad Ishaq Dar Friday laid a copy of the Finance Bill 2016 containing the Annul Budget Statement in Senate under Article 73 of the Constitution. The Minister also moved that the Senate may make recommendation, if any, to the national assembly on the Finance Bill, 2016,… Continue reading Dar lays Finance Bill, 2016 in Senate

ISLAMABAD, Jun 3 (APP): Following are the salient features of the budget 2016 17, announced by the Minister for Finance and Economic Affairs Senator Muhammad Ishaq Dar here on Friday. • The total outlay of the budget 2016 17 is Rs 4,894.9 billion. • It is 10 percent higher than the previous budget of 2015… Continue reading Salient features of budget 2016 17

ISLAMABAD, June 3 (APP): Finance minister Ishaq Dar Friday announced that under Prime Minister’s Special Programmes in the fiscal year 2016 17, an outlay of Rs 20 billion has been allocated. All of these schemes will be made operational. During the last fiscal year, an expenditure of Rs 19 billion had incurred.

ISLAMABAD, June 3 (APP): Finance Minister Ishaq Dar Friday said in the fiscal year 2016 17, a combined outlay of Rs 79.5 billion will be made for the higher education which would represent about 11 percent hike. An allocation of Rs. 21.5 billion has been made for 122 projects of the Higher Education Commission, which will… Continue reading HEC gets 11pc increase in allocation amount

ISLAMABAD, June 3 (APP): The government on Friday proposed Rs 100 billion for rehabilitation of Temporary Displaced Persons (TDPs) and security enhancement under a special development programme in the fiscal plan 2016-17. Presenting budget proposals in the National Assembly, he said the operation Zarb-e-Azb had been successful and highly effective in stemming the continuing threat… Continue reading Rs100 bln to be spent for TDPs’ rehabilitation, security enhancement: Dar

ISLAMABAD, Jun 3 (APP): Minister for Finance and Revenue, Senator Ishaq Dar on Friday proposed reduction in custom duty on import of fish feed pellet machines and water aerators from 5 percent to 2 percent. In a budget 2016-17 speech, he said fish feed was subject to 10 percent customs duty whereas shrimp feed was… Continue reading Custom Duty for fish farming slashes to 2%: Dar

ISLAMABAD, June 3 (APP): In line to give impetus to exports of the country, Finance Minister Ishaq Dar on Friday announced certain measures including zero-rated taxes and duties on different subsections of the sector. Delivering his budget speech at the National Assembly, he said, country’s export potential has not been fully realized due to depressed… Continue reading Dar announces incentives for boosting exports

ISLAMABAD, June 3 (APP): Minister for Finance and Revenue, Senator Ishaq Dar on Friday said the government has allocated Rs 1 billion for credit guarantee scheme in budget for next fiscal year. In his budget speech he said federal government is sharing risk of non-payment of credit by small farmers by guaranteeing up to 50… Continue reading Rs 1 bln for credit guarantee scheme allocated in budget : Dar

ISLAMABAD, Jun 3 (APP): Minister for Finance and Revenue, Senator Ishaq Dar on Friday proposed reduction in rate of custom duty to import machinery for dairy, livestock and poultry sectors from 5 percent to 2 percent. This reduction would encourage further investment and development of the sectors, he said in his budget 2016-17 speech. The… Continue reading Dar proposes concession of custom duty for dairy, poultry sectors

ISLAMABAD, Jun 3 (APP): Minister for Finance and Revenue, Senator Ishaq Dar on Friday proposed abolishment of 7 percent sales tax on pesticides and its ingredients from next fiscal year. In a budget speech, the Minister said pesticides and its ingredients are chargeable to sales tax at reduced rate of 7 percent which was proposed… Continue reading Dar proposes abolishment of 7% sales tax on pesticides