Pakistan budget 2010-11 details
Budget 2010-11 is presented today in national assembly is expected to be approved by the house with few changes. Budget 2010 – 2011 is the biggest budget of Pakistan. Following are the details of budget.
* Rs.450 billion for defense.
* 50% increase in government employees Salary.
* Pension will be increased by15% to 20%.
* 131 billion for civil Nuclear projects.
* Minimum salary will be Rs.8000 instead of Rs. 6000 .
* 300 Lac Energy Savers will be distributed to Save Electricity.
* 1 rupee excise duty on each cigarette.
* 52% increase in Provisional development funds.
* Income Tax will be implement on 3 Lac Rs per year instead of 2 Lac Rs per year
* Rs.1000 / Ton less on Import if edible oil .
* Federal cabinet salaries to be decrised by 10%.
* GST increased by 16 % to 17%.
* Rice processing machine will be duty free.
* Minimum Pension will be Rs.3000 instead of Rs.2000
* 10% duty on Electronics products.
* Deferred the imposition of value added tax (VAT) due to opposition from the provincial governments.
* No tax on selling shares after 1 year.
* 20 to 25 percent rise in salaries of government employees.
* Tax recoveries have been targeted at Rs.1.7 trillion.
* Rs.660 billion for the Annual Development Programme (ADP)
* Medical allowance to be double from grade 1 to 15ill be implement
* 10% excise duty on Natural gas will be implemented.
* Regulatory duty on more than 250 edibles would be removed.
* Increase in the tax on cosmetics, tobacco and electronic goods.
* Vehicles is likely to be reduced by 10 percent.
* Six percent increase would be announced in electricity prices.
* Establishment of new power distribution companies.
