Inclusive growth-oriented budget: poor no more to wait for trickle-down effect, says Tarin

ISLAMABAD, Jun 12 (APP):Federal Minister for Finance and Revenue Shaukat Tarin Saturday said the main focus of the inclusive growth-oriented federal budget for the fiscal year 2021-22 was to uplift the poor so that they would not have to wait for trickle-down effect of economic progress. The low-income people had been waiting for that for… Continue reading Inclusive growth-oriented budget: poor no more to wait for trickle-down effect, says Tarin

Wait for trickle-down effect ends, budget focuses on inclusive growth:  Tarin

ISLAMABAD, Jun 12 (APP): Federal Minister for Finance and Revenue, Shaukat Tarin said here Saturday that the main focus of the inclusive growth-oriented federal budget for the fiscal year 2021-22 was to uplift the poor so that they would not have to wait for trickledown effect of economic progress. For the past seventy four years,… Continue reading Wait for trickle-down effect ends, budget focuses on inclusive growth:  Tarin

Govt. allocates over Rs12,017 million in PSDP 2021-22 for agri sector

ISLAMABAD, Jun 11 (APP):The government has allocated an amount of Rs12,017.280 million in its Public Sector Development Programme (PSDP) 2021-22 for uplift and development of agriculture and livestock sectors in the country. The hefty sum was allocated for the completion of 27 ongoing and eight new schemes during upcoming fiscal year to promote and develop… Continue reading Govt. allocates over Rs12,017 million in PSDP 2021-22 for agri sector

Budget 2021-22; CPEC SEZ enterprises to be exempted from minimum tax

ISLAMABAD, Jun 11 (APP): The enterprises of the Special Economic Zones (SEZs) being built under the China Pakistan Economic Corridor (CPEC) are proposed to be exempted from the minimum tax for the year of 2021-22 and onwards. The minister for finance and revenue Shaukat Tarin in his budget speech here on Friday said the SEZs… Continue reading Budget 2021-22; CPEC SEZ enterprises to be exempted from minimum tax

Highest growth of 25% recorded in remittances

ISLAMABAD, Jun 11 (APP): Finance Minister Shoukat Tarin on Friday said that the country recorded highest ever growth of 25 percent in remittances and $ 29 billion. Presenting the budget in National Assembly, the Finance Minister said that the exceptional growth in workers’ remittances, which were poised to achieve the highest ever growth, was single… Continue reading Highest growth of 25% recorded in remittances

Salient features Income Tax measures, reliefs

ISLAMABAD, Jun 11 (APP): Following are the salient features of Income Tax measure and reliefs proposed by the government for FY 2021-22 -Special regime for export of services at par with export of goods to be taxed @ 1% under final tax regime. -Elimination of block taxation of property income and shift to normal tax… Continue reading Salient features Income Tax measures, reliefs

Govt allocates Rs 21.72 billion for health sector projects

ISLAMABAD, Jun 11 (APP): The government has allocated an amount of Rs 21.72 billion for 20 ongoing and 26 new projects in the health sector under Public Sector Development Programme 2021-22. According to the budget document, out of the total allocated amount, an amount of Rs 13.07 billion has been allocated for out-going projects while… Continue reading Govt allocates Rs 21.72 billion for health sector projects

Federal Govt unveils Rs 2.1 trillion development budget

ISLAMABAD, Jun 11 (APP): Pursuing an approach of balanced development across the country, the Federal Government on Friday unveiled Rs 2.1 trillion Public Sector Development Programme (PSDP) for the fiscal year 2020-21, with special focus on strengthening the health sector and generating business activities to combat widespread disruptions caused by the COVID-19 pandemic. Out of… Continue reading Federal Govt unveils Rs 2.1 trillion development budget

Zaidi hails budget; saying main focus on income generation, productivity

ISLAMABAD, Jun 11 (APP): Minister for Maritime Affairs Ali Haider Zaidi on Friday hailed the federal budget 2021-22, saying the main focus has been put on income generation, productivity and exports. Terming the budget as progressive, he said during the next fiscal year, the focus would also be put on minimizing imports. In his reaction… Continue reading Zaidi hails budget; saying main focus on income generation, productivity

Practical steps proposed in Budget 2021-22 to control price hike, unemployment: Dogar

ISLAMABAD, Jun 11 (APP): Special Assistant to the Prime Minister on Political Affairs and Chief Whip Malik Amir Dogar Friday said the present government has proposed practical measures in the Budget 2021-22 to end price hike, unemployment and poverty. Talking to APP at the Parliament House, Amir Dogar said that the government has presented pro-poor… Continue reading Practical steps proposed in Budget 2021-22 to control price hike, unemployment: Dogar

Multiple incentives to export sector helped achieve ‘remarkable’ growth: Tarin

ISLAMABAD, Jun 11 (APP): Minister for Finance and Revenue Shaukat Tarin said on Friday that multiple incentives given to the export sector helped achieve ‘remarkable’ growth of 14 percent during the financial year 2020-21. Presenting the Federal Budget for Fiscal Year 2021-22, he said “Exports are now better than before”, adding that the sector was… Continue reading Multiple incentives to export sector helped achieve ‘remarkable’ growth: Tarin

Govt encouraging manufacturing, use of electric vehicles: Shaukat Tarin

ISLAMABAD, Jun 11 (APP): Federal Minister for Finance and Revenue Shaukat Tarin Friday said the government was encouraging the manufacturing and use of electric vehicles to address environmental issues and reduce reliance on gasoline besides provision of cheaper source of transportation to public. In his budget speech, the minister said that for the purpose, various… Continue reading Govt encouraging manufacturing, use of electric vehicles: Shaukat Tarin

Govt providing subsidy of Rs300,000 for low income household

ISLAMABAD, Jun 11 (APP): The government is providing a subsidy of Rs300,000 for low income household to enable them to own their house. For this purpose, an allocation of Rs33 billion was proposed in the budget. Minister for Finance and Revenue Shaukat Tarin said this during his budget speech in the Parliament House on Friday.… Continue reading Govt providing subsidy of Rs300,000 for low income household

Highlights of Budget 2021-22

ISLAMABAD, Jun 11 (APP): Following are the highlights of budget 2021-22 of Pakistan presented by Minister for Finance and Revenue Shaukat Tarin in the Parliament House here on Friday. — Support for 4-6 million low-income households, through Interest free business loans (upto Rs.5 lakh) — Interest free farming loans (upto Rs.2.5 lakh) — Agri-equipment loans… Continue reading Highlights of Budget 2021-22

Govt proposes Rs 118bn budget to enhance energy distribution

ISLAMABAD, Jun 11 (APP): Federal Minister for Finance and Revenue Shaukat Tarin Friday announced that the government has proposed Rs118 billion in the Budget 2021-22 to efficiently manage the distribution of surplus energy generated by the country. In his Budget speech at the National Assembly, the minister said the country was possessing surplus electricity generation… Continue reading Govt proposes Rs 118bn budget to enhance energy distribution

Govt proposes to bring third-party sales through established online marketplaces

ISLAMABAD, Jun 11 (APP): The government has proposed to bring third-party sales through established online marketplaces within the purview of sales tax. In his budget speech, Federal Minister for Finance and Revenue Shaukat Tarin Friday said the basic objective was to bring e-commerce transaction under sales tax net. “We have seen extraordinary sales through online… Continue reading Govt proposes to bring third-party sales through established online marketplaces

PM keen to develop water reservoirs, dams: Shaukat Tarin

ISLAMABAD, Jun 11 (APP): Federal Minister for Finance and Revenue Shaukat Tarin on Friday said Prime Minister Imran Khan was keen to develop water reservoirs; small, medium and large dams to meet water needs of our future generations. In his budget speech at National Assembly, he said Pakistan was among the countries to face water… Continue reading PM keen to develop water reservoirs, dams: Shaukat Tarin

Govt proposes Rs 118bn budget to enhance energy distribution

ISLAMABAD, Jun 11 (APP): Federal Minister for Finance and Revenue Shaukat Tarin Friday announced that the government has proposed Rs118 billion in the Budget 2021-22 to efficiently manage the distribution of surplus energy generated by the country. In his Budget speech at the National Assembly, the minister said the country was possessing surplus electricity generation… Continue reading Govt proposes Rs 118bn budget to enhance energy distribution

Govt proposes sales tax exemption to auto-disable syringes, oxygen cylinders

ISLAMABAD, Jun 11 (APP): Minister for Finance and Revenue Shaukat Fayaz Ahmed Tareen on Friday said that there is a proposal of tax exemption on import of auto-disable Syringes and their raw material and exemption on oxygen cylinders. “We all know that COVID-19 has badly damaged the entire human race and the global economy and… Continue reading Govt proposes sales tax exemption to auto-disable syringes, oxygen cylinders

Budget 2021-22; govt. proposes reduction of FED on telecom services

ISLAMABAD, Jun 11 (APP): Federal Minister for Finance and Revenue Shaukat Tarin on Friday proposed reduction of Federal Excise Deputy (FED) on telecom services. In his budget speech at National Assembly, the minister said that to facilitate businesses and provide relief to the general masses, rate of federal excise duty on telecommunication is proposed to… Continue reading Budget 2021-22; govt. proposes reduction of FED on telecom services

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