Tag Archives: budget

Finance Ministry Decides to Prepare New Salary Package for Federal Employees

Finance Ministry Decides to Prepare New Salary Package for Federal Employees


admin | February 7, 2018 | category: News

Finance Ministry Decides to Prepare New Salary Package for Federal Employees. The Ministry of Finance on Wednesday decided to constitute a committee to prepare a new package for the federal government employees which will be finalized before the announcement of the budget for the next year.

It was decided during a meeting of a delegation of Federation of Federal Government Employees (Pakistan) here Wednesday with the Minister of State for Finance Rana Muhammad Afzal Khan here at Ministry of Finance. The delegation was led by Chaudhry Mukhtar and comprised federal government employees from different ministries and departments.

The Minister gave instructions for convening the meeting of all the officials concerned and initiate preparations for a quality salary package for Federal Government employees in the forthcoming budget. He said that the government was prepared to provide maximum facilitation to the employees that was possible keeping in view available resources.
The Minister had detailed discussion with the delegation on the 14-point agenda and said their proposals would be accorded due consideration. He assured them of his full support in the matter.
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Budget Preparation Starts, Abolishing Pension and Increase in Pay Suggested

Budget Preparation Starts, Abolishing Pension and Increase in Pay Suggested


Shahid | January 10, 2018 | category: News

Budget preparation starts, abolishing pension and increase in pay suggested.The government has started budget preparations and commenced the consultation process with the concerned stakeholders including representatives of various chambers of commerce and industries and different business organizations.

In this regard Prime Minister Shahid Khaqan Abbasi has reconstituted his own team for preparing the budget for year 2018-19 as government is in hurry and interested to complete the work before the completion of the term of the assemblies.

The Prime Minister has appointed Haroon Akhtar Khan as his Advisor, with the status of Federal Minister, who will be responsible for the affairs of the Federal Board of Revenue (FBR), and consult with the business community to prepare the recommendations for improving the collection of taxes.

The Prime Minister has also appointed Miftah Ismail as his advisor who will be responsible for dealing with the international monetary organizations for seeking loans and other financial assistance from them. To deal with political elements, the Prime Minister has appointed Rana Afzal Khan as Minister of State for Finance, who will deal with the politicians and other local organizations to seek their proposals for the next budget.

According to sources of Ministry of Finance, the government has been working on a plan to abolish the system of pension and the salaries of the government servants will be increased accordingly to the level of private sector so that the financial burden on the government for the payment of pension could be abolished. In this proposal, which will be very difficult to be adopted by the government in its last year of the tenure, the government has received suggestions that instead of giving pension, the government officials will be given handsome salaries so that they can save sufficient money at the time of retirement.

The government has also discussed this proposal with the International Monitory Fund (IMF), the main lender of loans to Pakistan but still there is no progress on this proposal and it will be further discussed at various levels in the Ministry of Finance before the finalization of the next budget.
Meanwhile, the government has also discussing the proposals to increase the funds for improving the basic needs of life including power, provision of water, gas, health facilities, education and other such basic facilities and huge amount will be allocated in the next budget so that they can seek the support of the people on the occasion of the next elections.

The sources in the Ministry of Finance said that during the recent meetings of officials of Finance Department with the representatives of IMF, Pakistan has been advised by the IMF to prepare a three year frame work which include reduction on the foreign loans, prepare a comprehensive strategy for improving the debt payment in the next three years, as Pakistan has to pay back nine billion dollars during 2018 against the loans secured by the country.

The IMF also advised the officials of the Ministry of Finance to chalk out comprehensive strategy and take adequate and effective measures to reduce the trade deficit which has increased to US dollars 36 billion. In this regard the financial team of the Prime Minister has also been asked to prepare recommendations for increase in the revenues by the FBR, give incentives to increase foreign remittances and other such options.

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Fertilizer-Subsidy-notification

Fertilizer Subsidy-notification Still Awaited Despite Government’s Assurance


Sumera Saeed | July 24, 2017 | category: Business

The federal budget was passed on 13 June and was supposed to be followed up by issue of various SROs by FBR and notifications by relevant ministries. However, performance of some of the ministries has been deplorable in this regard. Disbursement mechanism for fertilizer subsidy announced by the Government has not been notified so far, thus adding to the anxiety of the industry, which is already running from pillar to post for release of subsidy pledged in past budget.

The industry however has started passing subsidy impact to the farmers, instead of hiking the prices or stopping the sales. The industry had initially stopped the sales, however, with an assurance from Ministry of Finance that; a fertilizer subsidy-notification will be issued very soon, the sales were resumed being peak period for the crops. Unfortunately, till date, this notification has not been issued, due to some unknown reasons or procedural-delays.

The previous notification envisaged payments on the basis of GST returns submitted by the companies. However, the Ministry of Food Security had added verification of sales by the provinces, against the spirit of their own notification. While the capacity of provinces was highly questionable, KPK and Sindh did not display the will to support initiative of the federal government. This led to highly sluggish processing of claims by Food Security Ministry, which itself was not equipped with wherewithal to handle the subsidy disbursement in this complex manner. Earlier in 2005 and 2008, this Ministry had been making payments on the basis of audited financial statements of the Companies.

This time in spite of submitting indemnity bonds by the companies, the official are not feeling confident to make payments because of unknown fears, notwithstanding their decision making capacity. This crisis has escalated because an unnecessarily complex verification procedure has been adopted for the payment of the fertilizer subsidy. Hence, the backlog of unpaid and overdue subsidy amounts has now risen to over 20 billion Rupees. The ‘Ministry of Finance’ and the ‘Ministry of Food Security’ both seem to disown the subsidy program announced by the government.

This Fertilizer industry is the biggest contributor to the national exchequer and it always cooperates with the government to support the agricultural sector. But, this apathy shown by the government may, once again, force the industry to stop the sale of urea, to put some pressure on the government. The crisis may even force the companies to refuse further participation in this important subsidy-programme.

The authorities must urgently resolve this matter, by relying primarily on GST returns submitted by these prudent companies. Thus, the process of claims-verification can be simplified and expedited. But if the government continues to delay the promised notification, the country may face a bigger agricultural crisis. The ministries must act fast for a timely resolution of this matter, to help the farmers get good crop-yields and enrich the national economy.

“The provincial governments also need to be sympathetic to their farming community and must realise that there can not be two prices of fertilisers, hence they have to cooperate with the federal government for the subsidy disbursement mechanism.”

 

jobs

No Concrete Measures for Job Creation in Budget: APBF


Sumera Saeed | June 5, 2017 | category: Jobs

All Pakistan Business Forum president Ibrahim Qureshi has said that Pakistan needs 2.5 million jobs annually but the government has taken concrete measures neither in federal nor in Punjab budgets for job creations for the unemployed youth.

Commenting on the 2017-18 federal and Punjab budgets, he termed it a bubble budget, apparently feeling good but does not contain substance.

He condemned the economic manager’s calculator approach in finalizing the budget, which focused more on revenue collection and less on the fulfillment of its major objective of giving a long-term direction to the economy. This budget shows the failure of the Federal Board of Revenue as the reduction of taxpayers in active taxpayers list clearly indicates the failure of the govt, he added.

Terming the federal budget as a number game with no incentives for industry and more privileges for few sectors, he said that government is non-serious to explore new venues for revenue generation and no efforts had been taken to plug revenue leakages amounting in billions. He criticized the Federal Board of Revenue for failing in broadening of tax base. The government instead of generating revenue from direct taxes showed its intention to collect revenue through withholding tax. Moreover, the government after increasing the tax rate for non-filers had admitted its failure to implement the concept of filer and non-filer introduced in the last budget.

He also opposed the Punjab government for slapping duty on internet services. He said internet had now become a necessity for every sector of the economy, whether its agriculture, healthcare, education or SMEs. He said that small size businesses have also a monthly bill of more than Rs1,500. Making broadband expensive will have a very negative impact on the overall economy, as taxing broadband is like raising petrol prices, which affects every sector of the economy, he added. Ibrahim Qureshi said that like the previous governments, this one too has refrained from bringing big fishes into the tax net or even taking measures to prevent major tax evasions. The government attempted to squeeze the neck of old taxpayers instead of taking efforts to bring new taxpayers into tax net.

He blasted the authorities for not keeping its focus on resolving the energy crisis and allocating sufficient funds for the construction of big reservoirs including Kalabagh Dam in budget. He said that policymakers would have to address the concerns of the public since they suffer the most as a result of the power crisis. Ibrahim Qureshi questioned the claims of the government regarding reduction in unemployment, improvement in per capita income and improved energy situation.

The government is opening up the Pakistan economy to imports. While lower duty on raw materials and inputs is needed, but duty free imports of machinery will result in huge spending of scarce foreign exchange and jobs creations abroad, and no jobs for Pakistanis.

Ibrahim Qureshi regretted that no corrective action has been announced in the budget to increase direct taxation and more emphasis has been laid on indirect taxation.



Bhojpouri Movie Dulhan Chahi Pakistan Se A Big Hit of 2016


Mariam Irshad | August 26, 2016 | category: Bhojpouri Movie Dulhan Chahi Pakistan Se

Bhojpouri Movie Dulhan Chahi Pakistan Se A Big Hit of 2016

Dulhan Chahi Pakistan se is an Indian film picturized in bhojpouri language. Huge bhojpouri viewership is the base reason to fabricate Dulhan chahi Pakistan se. it is made under the banner of   Saideep Films and Aadi Shakti Entertainment Pvt. Ltd and was released on 5th august 2016. The story starts with the impeccable and infinite love that is truly tested by the pythons of hates and bigotry. The seeds of hatred are sowed and cultivated in the minds of people who are living on the two opposite sides of border therefore many tactics are employed to deoxygenate that living love relation but in the end passionate love dominates on all the historical rifts.

It is produced and directed by Rajkumar R. Pandey who is very talented and experienced person and has produced a bundle of super hit Bhojpuri films. Dulhan chahye pakisatn se casts   Pradeep Pandey, Tanushree, Shubhi Sharma in lead role while other cast include  Mukesh Rishi, Tinu Verma and Sanjay Pandey .  Dulhan chahi Pakistan se is edited by vikash pawar and Cinematography by Satya Prakash The music of Dulhan Chahi Pakistan Se is composed by Rajkumar R. Pandey and the lyrics are written by Shyam Dehati and Rajkumar R. Pandey.There are about 9 soundtracks in this movie and music released on 08 June 2016. The music of this movie is very soft    touchy and romantic. Dulhan Chahi Pakistan se was shot in most captivating cities utar pardesh and bihar .The budget of dulhan chahi pakisatn se INR 50,000,000 estimated.

You can Watch the Official Theatrical Trailer  of Dulhan Chahi Pakistan se below on Daytimes:

You can also free Download the MP3 Songs of Dulhan Chahi Pakistan se Bhojpouri Movie by clicking on the below Link:
Free Download