Highlights of Finance Minister post budget press conference

ISLAMABAD,  (APP): Following are the highlights of the post budget prpakistan-constitution-islamicess 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.

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