Federal budget 2016-17
Federal Government will announce Federal Budget 2016-17 on 3rd June 2016. Federal Minister for Finance Senator Mohammad Ishaq Dar will present Federal Budget 2016-17.
Increase in Pay & Pension of Government Employees:
Federal Government will increase 10-15 Percent Pay & Pension of Government Employees in Pakistan.
Government servants Pay in Budget 2016-17:
Government servants and all other staff sole utmost want is to will increase Pay scale Chart in new declared budget of the the year e.g the most being awaited raised salaries and pensions for 2016-2017 budget. All the details are updated here as soon as they’re declared by the govt. of Pakistan and and every one the various provinces i.e Punjab, Balochistan, Sindh, KPK.
Taxes worth Rs 40 billion that were part of the last year’s mini-budget have also been added in the upcoming budget along with additional taxes which are around Rs 26 billion, resulting in the increase in the prices of basic items, including soap, toothpaste, make-up products, cellular phones and eatables.
10 per cent to 15 percent raise in salaries of government employees
Balochistan Budget 2016-17
Sindh Budget 2016-17
KPK Budget 2016-17
Federal Budget provide the detail of all incoming revenue and outgoing expenditure at the finish of each fiscal year,money budget gift Finance Minister once discussion with ministries within the financial budget, analyze and collect the all revenue detail and make pre plane regarding the utilization of the resources that is provide higheradvantages rather than previous year. If the resources are below than the expenditure the government decides a way to manage the resources to satisfy the expenditure like foreign loan from completely different country.
Finance Minister Ishaq Dar develop budget 2016-2017 and discussed decide hike and apportion what quantitybudget used in Asian country steel plant, PIA and all alternative department consistent with their want andconsistent with their sources and current economic state of affairs challenge. The finance budget describe the criteria what quantity percentage increase the pension of the retire worker, and discuss in finance budget about the tax matter as a result of the currently a day’s individuals ar develop our business by outlaw method and government decide however to establish those individuals however have hidden business. To find them govt decide increase in income tax on each banking dealing, and all the payment must be created through banking channel that quite Rs 50000. Also discuss in budget regarding the transportation business that is in boom it decide that the share of withholding increase from the previous year for collect abundant revenue.
customs duty will be increased on imported milk, butter, dry milk, imported chicken, fish, tin fruits, olive oil etc. The prices of warm jackets, coats, shoes and bags will also escalate as a result of the increase in the taxes. Additional excise duty will have to be paid on cigarettes as well.
Govt. Employees pay Increase in Budget 2016-2017:
In the budget abundant concentrate on the trade that provide much revenue to the govt. and conjointly increasewithin the gross domestic product share and lift the taxes, and discuss in the budget about the electricity that is that the key of Asian country economy and trade growth for this purpose decide the link with alternative country to form facilitate to cut back the electricity crises and apportion budget, Also keep in read the govt. plan to attract the foreign capitalist to begin the business in Asian country that provide the use opportunities and increase the living customary of the individuals and increase in gross domestic product. And discusses the agriculture sector which is going to decrease for this purpose govt decide provide abundant advantages to the farmer by increasewithin the sale value of product and by give the subsidiary within the fertiliser product and reduce rate import on agriculture machinery.
Education sector and services sector are vital current budget has been provided seventy five million in the Budget 2016, 2017 to the education sector which is abundant than the previous year and centralized decide that the alloweducation sector should be increase than the previous 2 year budget as a result of education sector ar sector toabundant vital for Asian country economy growth and every one alternative sector.
After the implementation of budget the completely different political member strike against the budget and sayabundant of the budget contribute to the geographic area government and to the ministry of defense. For this purpose Ishaq Dar gives temporary summery to the media and opposition party relating to the allocation of the budget. After the strike CM. Nawaz Sharif decides that we decrease the budget of the government department, and target of this year is much than the previous year. The performance of the budget current year monitored by the Finance department under the Federal Government and conjointly consults with the varied government sectors, state bank of Pakistan to attain the target of Bu Finance Division Notification and Ministry of Finance Notification and of federal budget are updated in pdf format on official finance department web site at WWW.finance.gov.pk.
The Punjab Government and Federal Finance Division pay Notification ar expected in annual Budget 2016-2017. Budget of Pakistan have all departments like education, Pakistan army & defense, health, rescue 1122, motorway, wapda, district Govt. and petroleum to be announce for the facial year 2016 to 2017. Education budget of Pakistan is most vital to be increase for this year Budget 2016-2017.