Pakistan Budget 2013-14 presented in National Assembly

By Zaheerul Hassan

Federal Minister for Finance, Senator Muhammad Ishaq Dar of newly elected PML (N) democratic government presented Federal Budget of about Rs 3.5 trillion for the fiscal year 2013-14 before the National Assembly. The government did not make any increase in the salaries of government employees. However, the cabinet approved 10 percent increase in the pension of public servants, i.e.Rs.3000-5000.

Earlier‚ these budget proposals will be put for approval by the federal cabinet at its special meeting to be chaired by Prime Minister Nawaz Sharif.

A number of proposals are expected to be presented to resolve energy crisis‚ reduce government expenditure‚ and fiscal deficit and steps to revive national economy and enhance revenue collection.

Dar stated that The GDP growth has been projected at around 4.4 percent for the next budget while the inflation target fixed single digit at about 8 percent. He claimed that the budget will also focus on social sector development and revenue enhancement, besides reforms will also be introduced for improving governance and boosting private sector investment. He also added that GDP will be increased up till 7 percent. The government has also finished secret funds of the cabinets and provincial prerogative funds. However, national security initiations would be allowed to maintain secret funds but would be liable to for audit. Government has also decided to complete Faisalabad-Multan and Karachi-Hyderabad motorway links. Government decided to pay particular attention to Railway, Energy, higher education and human resource management sectors. In this connection 31 billion and 18 billion have been allocated for railway and high education. Fedral government has decided to continue with the Benzair income support programme in the next fiscal year.  The support has also been increased from Rs.1000-1200 pm. The remaining details will be updated shortly.