Buckle up!! The Budget is here!!!

Finally, the day everyone hates is here. Its time for another one of those Federal Budgets.
According to this report, the budget is scheduled to be announced today iin a session at the National Assembly.

According to some pre-leminary information, the budget is planned to create a spending culture, which is aimed at driving economic activity. It is hoped that spending in tax payments, however, is reduced.

The State Bank has also released its latest statistical survey of the country’s economic position which can be accessed here.

11 Comments so far

  1. Adnan Siddiqi (unregistered) on June 5th, 2006 @ 12:43 pm

    Intresting stat:

    sure its *economic growth*.

  2. Jay the big J (Jamash) (unregistered) on June 5th, 2006 @ 1:12 pm

    Budget as usual : They will say all the sweet things today will leave the bitter pills for later, as they will show up in the details.

  3. UnholySaint (unregistered) on June 5th, 2006 @ 10:25 pm

    Govt spending is never good for the economy in the long run. Govt is always less efficient than the private industry.

  4. IllusionFS (unregistered) on June 5th, 2006 @ 11:07 pm

    Some highlights of from the budget and the economic survey.

    * Defence expenditure up 12 percent to Rs. 250.18 Billion
    “Pakistan is a nuclear power and we will keep providing whatever resources we have to strengthen the defence of the country”
    “Pakistan’s impregnable defence is our priority number one.”
    – Minister of State for Finance Omar Ayub Khan

    Pakistan’s external debt and liabilities have declined by $ 2.4 billion in seven years – down from $ 38.9 billion at the end of the 1990s to $36.5 billion by end-March, 2006.
    Just imagine where our foriegn debt would have been if we had used Billions of $, that we actually wasted on buying arms, on removing foriegn debt.

    Energy consumption, particularly electricity and gas continue to rise at double-digit level, reflecting strong buoyancy in the economy.

    Exports and imports continue to grow at high double-digit level; (xiv) workers’ remittances at around $ 4.5 billion continue to remain one of the largest sources of external finance for Pakistan

    Per capita income in dollar term registered an increase of 14.2 percent over last year – rising from $ 742 to $ 847 (I really dont agree to this bs)

    Petroleum group import amounted to $ 4.6 billion during the first nine months (July-March) of the current fiscal year as against $ 2.8 billion in the same period last year, thus registering an increase of 64.5 percent.

    Air pollution levels in Pakistan’s most populated cities are among the highest in the world, causing serious health issues in the process.

    Water availability in Pakistan continues to decrease, both in total amount of water as well as in the per capita water availability in Pakistan. In 1951, when population stood at 34 million, per capita availability of water was 5300 cubic meter, which has now decreased to 1105 cubic meter, just touching water scarcity level of 1000 cubic meter. *and still people oppose the construction of dams.

  5. Adnan (unregistered) on June 6th, 2006 @ 12:15 am

    Increase in Defence budget as someone posted above-250Bn.Crap!! how long would they keep fooling us?The ordinary jawan doesnt get any benefit of increased amount.

    Education-2.5% of GDP,around 19Bn.It was 2.7% something in last fiscal year.

    The most insulting part.Incrase in salary upto Rs.1000 only.Pension 20% only.If you compare it with salary increment of assembly or senate members which was raised upto Rs.35,000 last year,its like peanuts.

    bureaucracy,military dictatorship and fudalism.Unless these things are not root out,you cant expect anything better.For me fudalism and military dictatorship are equal.They talk about siachin post and other expenses.Why Pakistan Army is not answerable to anyone.Do they wana say that there is no corruption in upper level of Army?Things like they fight for Pakistan is just bullshit.

    We should quit comparing us or follow India.The India issue or kashmir issue is too rotten now.We utilize alllll our efforts and money to collect lots of weapons against India.Why govt dont bother to fight India in field of R&D,science,IT,commerce etc etc?I am not an Indian but what i see as an outsider that defence is not their top most priority.

  6. wasiq (unregistered) on June 6th, 2006 @ 2:36 am

    I completely forgot the DESPERATE HOUSEWIFES tonight..it wont happen again i promise…its on the TVLand right..?

  7. Concerned (unregistered) on June 6th, 2006 @ 3:40 am

    I am all in the favour of reducing the defence budget but I think it is important. We are the smaller nation, next to a country that could become a threat any day.

    Also “Unholysaint” I think you are a bit mixed up, government spending (PSDP) is good for the country but government owing industries is bad hence the privatisation.

    I have not comletely read the details but the budget seems decent enough. Seems to be concentrating on some of the key issues. Education could use more investment though. Lets try and get more charity into the educational charities and help them fill up the gap.

    It is easy to feed people but to empower them to feed themselves is difficult.

  8. Adnan (unregistered) on June 6th, 2006 @ 9:53 am

    Good news for salaried women.Now they will pay less tax than others.Good step to encourage ladies to come out and do something for the betterment of their families and country.

  9. Checkmate (unregistered) on June 6th, 2006 @ 3:13 pm

    @ adnan, so good to see people appreciating the working women. the tax bracket has also been increased so people will overall get tax relief.

  10. Adnan Siddiqi (unregistered) on June 6th, 2006 @ 3:41 pm

    so people will overall get tax relief.

    Ground realities says something else.

  11. Checkmate (unregistered) on June 7th, 2006 @ 10:33 am

    @ adnan, pls explain the ground realty. I am sincerely asking as I am not too good at de-coding the bugdet :-)

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