Highlights of Finance Minister post budget press conference
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ISLAMABAD, (APP): Following are the highlights of the post budget pr
 ess conference of the Finance Minister Senator Mohammad Ishaq Dar held here Wednesday.• 90 million people living below poverty line are government’s target. • Outstanding students and underprivileged are being assisted. • No one would be allowed to hike the prices in the name of financial bill.
• Artificial price hike to be discouraged. • Action to be taken against hoarding. • Budget 2014-15 is poor friendly. • Baitul Mal and PPAF were our ideas put forth in our previous government. • Transparency and merit our key policy guidelines. • Much of the youth loan scheme is for livestock. • Pakistan has great scope in agriculture sector. • Over 16 percent increase in tax collections attained. • Great incentives are being offered in textile and agriculture sectors. • Six schemes announced for youth by PML-Government. • For the first time in Pakistan livestock insurance is being introduced. • All FBR officials are to file tax returns before June 10 with fine. • SRO culture is being abolished. • Exceptional benefits to elite are being abolished. • Total volume of taxes is Rs 231 billion. • Pakistan cannot progress with just 0.85 million tax payers in a population of 180 million. • Tax collections are not to be made with harassment. • Major shopping malls are being brought under tax net. • Taxes on land deals and first class travelling are adjustable. • Assistance under Benazir Income Support Programme (BISP)increased by 50 percent ,total volume of BISP is increased by 200 percent. • About 0.5 million families will benefit from BISP. • Government intends to introduce a friendly tax collection environment. Minimum wages increased from Rs 10,000 to Rs 12,000 per month. • Minimum pension increased from Rs 3000 to Rs 6000 per month. • Increase in pension to cost government Rs 42 billion. • 20 percent medial allowance increased for whose who are drawing Rs 1000 in this regard. • Fiscal deficit reduced to the tune of 2.4 percent. • Future of Pakistan economy lies in export promotion. • EXIM Bank of Pakistan being established for small business finance. • Budget deficit to be brought down to 4 percent of the GDP in next three years. • Pakistan Poverty Alleviation Fund (PPAF) is benefiting 3.5 million poor people. • Government will train 0.12 million in textile sector for value addition at a cost of Rs.4.4 billion. • Trainees in textile will get a stipend of Rs 8000 per month. • Raise in pension of pensioners under EOBI will decide by its Board of Directors keeping in view of its financial position. • Minister for Finance will write a letter to EOBI in this regard. • No increase in monetization of government officers above grade 19. • The net revenue receipt for 2014-15 have been estimated at Rs.2,225 billion indicating an increase of 16 percent over the budget estimates of 23013-14. • Budget of Rs 21 billion for Prime Minister ‘s Scheme will be allocated for fiscal year 2014-15. |
