Finance Minister Abdul Hafeez Shaikh Announces Pakistan’s Federal Budget for the financial period of 2011-12. Members of Oppostion side continue to shout during Budget speech. Most spoke slogans were these, “Amreeki Ghulami Na Manzoor” and “Load-shedding Bund Karo”.
Following are the main points of budget 2011-12
- Total Outlay of budget 2011-12 is Rs. 2.767 Trillion Rupees which is almost 14% more than last year budget.
- Rs 495 billion rupees will spend on Defence
- Public Sector budget size is Rs. 730 billion
- General Sales Tax rate decreases to 16% from 17%
- Federal excise duty rate on soft drinks down to 6 percent
- WAPDA Got Rs. 32.5 billion allocation
- Fiscal policy will be 4 percent of GDP
- Transport sector allocated Rs. 50 billion
- Govt has been allocated Rs. 28 billion for Azad Jammu Kashmir and Gilgit Baltistan
- Forex reserves are greater than 17 billion dollar
- National highway authority portion in budget is Rs. 40 billion
- Govt has allocated Rs. 40 billion for Health and Education
- Provincial development program Rs. 430 billion
- National Development program Rs. 290 billion
- Water and power Rs. 36.60 billion
- Pension fund got RS. 96.10 billion space
- Salaries of Government employee increase of 15%
June 3, 2011