ISLAMABAD: Finance Minister Ishaq Dar on Friday presented Rs 4,894.9 billions volume budget for the fiscal year 2016-17 in the National Assembly.
Dar said this year this year GDP growth is 4.7 percent and per capita income has increased to 1561 dollar.
He said total tax collection target for the next fiscal year is Rs 3621 billion and Non-tax revenue target for is Rs 960 billion.
FEDERAL EMPLOYEES PENSION INCREASE BY 10pc:
Dar said federal employees’ pensions will be increased by 10 percent.Conveyance allowance for federal employees of grade 01 to 15 will be increased by 50 percent and special allowance for disable persons will be increased to Rs 1000.
AD-HOC RELIEF FOR GOVT EMPLOYEES:
Ishaq Dar announced to increase salaries of government employees by 10 percent on running salary as ad-hoc relief allowance.
M.Phil ALLOWANCE:
M.Phil allowance for the federal employees will be increased to Rs2500.
BUDGET ALLOCATION FOR DIFFERENT SECTORS:
Rs860.2 billions allocated for defense, Rs7.95 billions for Higher Education, Rs78 billions for Pakistan Railway, Rs100 billions for FATA affectees, Rs 84.1 billions for Education, Rs22 billions for Health and 115 billions allocated for Benazir Income Support program.
LABOURERS’ MINIMUM SALARY:
Dar said labourers’ minimum salary increased by Rs 1000 from Rs13,000 to Rs14,000.
AGRICULTURE SECTOR:
Ishaq Dar announced Rs15 billions subsidy for agriculture sector and reduced the prices of Urea fertilizer to Rs1400 per bag. He announced to decrease import duty of dairy and livestock to 02 percent from 05 percent. Dar decreased electricity prices for agricultural tube well to Rs5.35 per unit.
(Report is being updated)
