Musadik Malik terms budget 2023-24 as pro-poor

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Fri, 9 Jun 2023, 8:49 PM

ISLAMABAD, Jun 9 (APP): Minister of State for Petroleum, Dr. Musadik Malik on Friday terming the budget 2023-24 as pro poor, said several initiatives have been proposed for the uplift of marginalized segments of the society.

Talking to media outside the parliament house, the minister said that this is a responsible budget, which was proposed keeping in view the problems of poor people of the country.

He said that the government is fully aware of the problems of common man and assured that various projects which were proposed in this budget will resolve the economic problems of the poor people and ensure ways of earning for them.

The minister said that the government has suggested several plans for uplift of low and middle income class people. He added the main focus is on empowerment of country’s youth.

He said that small and medium loans on easy installments will be provided to the youth of the country under PM’s Youth Business and Agriculture Loan scheme and for the purpose an amount of Rs 10 billion will be issued in next fiscal year as mark-up subsidy.

Dr. Musadik said that the professional training will be provided to 50,000 IT graduates in the next fiscal year while they will be encouraged to get loans from banks to start their own business.

He said that an amount of Rs 10 billion will be allocated for next financial year for the laptop scheme for deserving students on merit basis. He added the federal government has already provided 100,000 laptops to the deserving brilliant students during current fiscal year.

The minister said that the government has proposed to establish Pakistan Endowment Fund and for the purpose an amount of Rs 5 billion will be allocated to provide financial support to the shining students of schools and colleges.

An electrician busy to repairing room-coolers at his workplace in the Provincial Capital

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Zia Ur Rehman

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Fri, 9 Jun 2023, 8:48 PM

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Prime Minister Muhammad Shehbaz Sharif shaking hands with Federal Minister for Finance Muhammad Ishaq Dar after the budget speech 2023-24 in the National Assembly

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Zia Ur Rehman

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Fri, 9 Jun 2023, 8:47 PM

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Industrialists and SCCI members are listening the Federal Budget Speech 2023-24 at SCCI

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Zia Ur Rehman

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Fri, 9 Jun 2023, 8:44 PM

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Rs 99 billion out of Rs 111.25 bn allocated for NHA schemes in PSDP 2022-23 spent so far

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NNPS Desk

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Fri, 9 Jun 2023, 8:43 PM

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Rs 99 billion out of Rs 111.25 bn allocated for NHA schemes in PSDP 2022-23 spent so far

ISLAMABAD, Jun 9 (APP): Against the allocation of Rs. 111.25 billion for 111 National Highway Authority (NHA) schemes, an expenditure of Rs. 99.075 billion is incurred for the completion of ongoing works of various national and regional connectivity road projects by the Federal Government.

According to the Budgetary document, during the year, funds were utilized to gear up the slow-moving and ongoing projects, especially for Gwadar links and regional connectivity, and for those projects, which were near to completion.

Against the allocation of Rs. 100 million for 03 road safety schemes of National Highways and Motorway Police, an expenditure of Rs. 20 million has been incurred for the completion of ongoing works for providing necessary infrastructure on securing the newly built Motorways and National Highways.

As far as Construction Technology Training Institute was concerned, against the allocation of Rs. 80 million for one scheme, an expenditure of Rs. 28 million has incurred for the completion of the newly initiated scheme of Construction of one dormitory for 200 Students at CTTI, Islamabad.

Against the allocation of Rs. 23.531 billion for 51 schemes, an expenditure of Rs. 4.861 billion is incurred for the completion of ongoing works of various provincial road projects fully or co-financed by the Federal Government.

To support the provinces and equitable development of regions of south Punjab, South Balochistan and northern areas several projects with Federal Funding were initiated after approval of the Special packages by the Federal Cabinet for South Balochistan and South Punjab.

Big relief introduces for construction sector in Federal Budget 2023-24

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NNPS Desk

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Fri, 9 Jun 2023, 8:42 PM

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Big relief introduces for construction sector in Federal Budget 2023-24

ISLAMABAD, Jun 09 (APP):The construction sector drew the main focus of the government as the common man as well as builders were given a major relief in the Federal Budget 2023-24, unveiled by Minister for Finance and Revenue, Ishaq Dar in the National Assembly on Friday.

The minister said that keeping in view the importance of construction sector in economic development, the government had decided to facilitate the common man and builders in the construction of houses and buildings.
“Around 40 industries are linked with this sector (construction). The construction enterprise will be given either a 10 per cent or five million rupees concession or which be less of the two for the next three years.

“And the individuals, constructing their own buildings will be provided 10 per cent tax credit or one million rupees concession, or which will be less of the two.
“The concession will applicable on the projects, commencing from July 1, 2023 and afterwards,” the minister added.

Govt earmarks Rs10 bln for youth small loans: Dar

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NNPS Desk

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Fri, 9 Jun 2023, 8:42 PM

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Govt earmarks Rs10 bln for youth small loans: Dar

ISLAMABAD, Jun 9 (APP): Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Friday announced that the government has earmarked Rs10 billion under Prime Minister Youth Programme (PMYP) for provision of small loans to the youth to establish their businesses in the Federal Budget 2023-24.

The Finance Minister made these remarks while presenting the Federal Budget 2023-24 here at the National Assembly.

He said the government has allocated Rs 5 billion under Prime Minister Youth Skills Programme (PMYSP) to impart specialized training to make skilled and trained human resource.

Senator Dar said it was the foremost priority of the incumbent government to empower the youth financially as they were future leaders. Provision of loans to the youth would not only help in setting up their business but also encourage them to come up with new business ideas, he added.

The minister said the youth were playing a key role in the development and prosperity of the country by utilizing their skills and talent.