Jun 02

Budget 2012-13: Rs2.96trn election budget presented amid ruckus

With election sirens wailing and nerve-wrecking challenges, Pakistan is in a tight grip of political and socio-economic upheavals right ahead of its federal budget… blame it on history that keeps repeating itself.budget 2012

Various business groups, chambers of commerce and industries have been voicing recommendations. But the gist of these proposals remains the same just as the country’s persisting problems.

The emphasis is on enlarging the tax net tapping evaders, curbing govt spending, social equality, opportunities for investment, industrialization and generating employment. But what about the shattered morale of the depressed business community? Is there enough breathing space for them to survive the cut-throat competition in today’s globalized world? The intensity of slogans is screaming for justice, tackling the corrupt system, boosting trade… providing ‘Roti, Kapra, Makaan, Bijli, Pani, Gas..’ but in vein. With textiles shifting to Bangladesh, skilled labour relocating abroad, higher tariffs to cope with, the industrial and corporate sector is entangled in the shackles of government irregularities.

Coming to an emerging trade partner in the neighbourhood, potential trade agreements with India would only be justified if Pakistan’s businesses and commodity basket is given equal and fair treatment.

For its federal budget, India has pledged income tax relief to citizens, measures to curb black money, giving a boost to defence sector and infrastructure, capital market reforms and huge subsidy cuts, boosting businesses.

There are examples around us, how economic leaders work persistently to turn the game around in favour of their revenue generating machinery. At a time when the world economy is reeling in the economic traps of fiscal deficit, Australia’s Federal Budget has been exemplary.

It is being termed as a ‘Robin-Hood Budget’…with special focus on the labour force, child-care, health plans and drastic tax-cuts….Australia’s middle and lower income groups are to receive $20 billion in cost-of-living assistance outlays over a span of next 4 years.

A dynamic move on the part of the government to provide this cushion of security, to make up for hurt sentiments of its people and get them to pull up their socks and become a part of development process.

Apparently, we refrain from taking a lesson from pro-people governments. For a country that resumed democracy after a lapse of 9 years, survived natural calamities, unhindered by global financial crisis, oozing with natural resources and 60% of population is its youth…with all the right ingredients, the broth was left to parasites.

There was some hope from its political and economic managers, but they have worked in ways to only rip its potential bit by bit. Budgetary framework, its representation and implementation…all march in opposite directions.

And now in the clutches of higher debts, faced with multiple geo-political issues and economic war clouds looming, it is high time public representatives put things in order. It is time they should be done search their hollow hearts for all the justification.

It is time the privileged lot becomes sensitive to the needs of masses…. This molten rock has endured enough pain. It has turned into lava… on the verge of eruption.

Jun 02

Highlights of the Federal Budget 2012-13

Federal Budget for fiscal year of 2012-13 is presents in parliament today. There is the list of most funds list . Following is the list of funds allocated to various divisions of the Public Sectors Development.Federal Budget 2012 13

  1. Rs2.177 billion for Cabinet Division
  2. Rs791.5 million for Capital Administration and Development Division
  3. Rs135.0 million for Climate Change Division
  4. Rs653.8 million for Commerce Division
  5. Rs142.1 million for Communication Division (other than NHA)
  6. Rs3.205 billion for Defence Division
  7. Rs2 billion for Defence Production Division
  8. Rs211.7 million for Economic Affairs Division
  9. Rs8.0 million for Establishment Division
  10. Rs25.0 million for Federal Tax Ombudsman
  11. Rs13.616 billion for Finance Division
  12. Rs200.0 million for ministry of Foreign Affairs
  13. Rs1.5800 billion for Higher Education Commission
  14. Rs2.591 billion for Housing and Works Division
  15. Rs126.0 million for Human Rights Division
  16. Rs774.5 million for Industries Division
  17. Rs412.3 million for Information and Broadcasting Division
  18. Rs787.4 million for Information Technology and Telecom Division
  19. Rs195.0 million for Inter Provincial Coordination Division
  20. Rs6.509 billion for Interior Division
  21. Rs20.055 billion for Kashmir and Gilgit-Baltistan Division
  22. Rs1.200 billion for Law, Justice and Parliamentary Affairs Division
  23. Rs311.1 million for Narcotics Control Division
  24. Rs495.0 million for National Food Security and Research Division
  25. Rs75.4 million for National Heritage and Integration Division
  26. Rs39.167 billion for Pakistan Atomic Energy Commission
  27. Rs400.o million for Pakistan Nuclear Regulatory Authority
  28. Rs268.1 million for Petroleum and Natural Resources Division
  29. Rs37.840 billion for Planning and Development Division
  30. Rs325.0 million for Ports and Shipping Division
  31. Rs612.0 million for Production Division
  32. Rs2.951 billion for Professional and Technical Training Division
  33. Rs22.877 billion for Railways Division
  34. Rs806.8 million for Revenue Division
  35. Rs1.311 billion for Science and Technological Research Division
  36. Rs16.000 billion for States and Frontier Regions Division
  37. Rs140 billion for Statistics Division
  38. Rs227.0 billion for Textile Industry Division
  39. Rs47.192 billion for Water and Power Division (Water Sector)
  40. Rs29.655 billion for WAPDA (Power)
  41. Rs50.727 billion for National Highway Authority
  42. Rs27 billion for Special Programmes
Jun 01

Federal Budget 2012-13 to be presented today in Parliament

Islamabad (Friday June 01, 2012): The federal budget for the fiscal year 2012-13 will be presented in parliament today.
Budget 2012-13
All the preparations had been finalized for the presentation of the national budget for the fiscal year 2012-13. Both the Houses of the Parliament have been fully prepared for today’s budget sessions separately.

A lot of hue and cry from opposition benches, especially from lawmakers of Pakistan Muslim League-Nawaz (PML-N) is expected against Prime Minister Syed Yousaf Raza Gilani after his conviction from the Supreme Court in contempt of court case against him.

Finance Minister Abdul Hafeez Sheikh while responding to questions on the occasion of release of Survey of Pakistan Report 2011-12, asked the reporters not to end all of their questions as he would have to respond to them day after tomorrow.

Both the Houses of the Parliament were summoned to meet separately by the Acting President Nayyar Hussain Bokhari almost on week ago. It is the 42nd session of the 5th Parliamentary year of the incumbent National Assembly.

It will be the fifth and last budget of the sitting coalition government led by PPP and will be laid before the National Assembly by Finance Minister Dr. Abdul Hafeez Sheikh.

Similarly, as per agenda of the Upper House of the Parliament, copies of the finance bill containing the Annual Budget Statement, for making recommendations, if any, thereon to the National Assembly, will be presented in the House.

Sources said that both the Houses would be adjourned for next two days after budget speech by the Finance Minister.

Well placed sources informed that PM L-N members of the National Assembly of would continue their protest against Prime Minister Syed Yousaf Raza Gilani so lot of hue and cry is expected during budget speech of Finance Minister, however, PML-N Senators are likely to maintain their prestige and sanctity in today’s session.

Source: Dunya News