Budget 2016-17

Balochistan’s fiscal budget worth Rs 289 bn presented in assembly

QUETTA: Chief Minister Balochistan Nawab Sanaullah Zehri on Sunday presented the provincial budget for fiscal year 2016-17 with a total outlay of Rs289bn, with Rs42.67bn allocated for education. Education's allocation for the current fiscal year has increased by 15 per cent when compared to last year's fiscal budget. Zehri also announced 14,000 students from Balochistan will be given scholarships in...

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Punjab allocates Rs 4.5 billion to LG&CD sector in Budget

LAHORE: Punjab government has allocated Rs 4.5 billion in the development programme for Local Government and Community Development (LG&CD) Sector for the fiscal 2016-17. Targets and Major Initiatives fixed for 2016-2017 include: Punjab Municipal Services Improvement Project Phase-II (World Bank Assisted), Improvement of Conditions of the Public Graveyards in Punjab, Establishment of Model Graveyard (Shehr-e-Khamoshan) in Punjab, Preservation and Restoration...

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KP unveils Rs505 bln budget

PESHAWAR: Khyber Pakhtunkhwa’s provincial cabinet met on Tuesday, with Chief Minister Pervez Khattak in chair, to approve the annual budget having a total outlay of Rs505 billion for fiscal year 2016-17. “No new tax has been proposed in the budget,” special assistant to chief minister on information Mushtaq Ghani said while giving details of the budget. In the new budget,...

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Ayesha Ghaus presents Rs.1681 bln budget in Punjab Assembly

LAHORE: Punjab Finance Minister Dr. Ayesha Ghous Pasha on Monday presented the provincial budget having total outlay of Rs1681.41 billion during the Punjab Assembly session chaired by Speaker Rana Muhammad Iqbal. Giving a break-up of the budget receipts and expenditures, she said that next financial year's general revenue receipts are estimated at Rs1319 billion, as the provincial government would receive...

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Teli underscores need for resolution of budgetary anomalies

KARACHI: Chairman Businessmen Group (BMG) and former president of the Karachi Chamber of Commerce and Industry (KCCI) Siraj Kassam Teli has advised the office-bearers of the chamber to fully utilise all available resources and every single platform to bring budget 2016-17 anomalies in the notice of decision makers in Islamabad with a view to get them amicably resolved. At a...

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Sindh Assembly unveils budget with outlay of Rs869bn

KARACHI: Sindh’s budget for the 2016-2017 financial year with an outlay of approximately Rs869 billion was presented in the provincial assembly on Saturday. The new budget translates into a rise of around 15 per cent compared to fiscal year 2015-16. The budget was presented in the assembly by Sindh Finance Minister Syed Murad Ali Shah after it was approved by...

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APAT expresses satisfaction over Budget 2016-17

LAHORE: All Pakistan Anjuman-e-Tajiran (APAT) on Sunday expressed satisfaction over the proposed Budget 2016-17 by federal government, saying the overall budget is satisfactory and acceptable, with some exceptions and concerns. While talking to reporters at Lahore Press Club, APAT General Secretary Naeem Mir along with other trade leaders including Chaudhry Mehboob Sirki, Agha Adnan, Raja Hassan Akhtar, Mian Khalil, Sohail...

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Farmers hails budget 2016-17

SIALKOT: Local exporters, manufacturers and farmers have hailed the new federal budget for 2016-17 and termed it business and agri friendly. The incentive announced in the budget will surely help in enhancing the export volume considerably and help reduce the problems of farmers' community, they said. Talking to reporters on Sunday the SCCI President said that declaring of five industries...

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Federal Budget to create jobs, alleviate poverty, improve life of common man: Dar

ISLAMABAD: Minister for Finance Ishaq Dar says the thrust of the new federal budget is on growth, job creation, poverty alleviation and improving lot of the common man. He was explaining salient features of the budget at a news conference in Islamabad today. The Minister pointed out that agriculture sector posted negative growth this year and with this in view...

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Business community terms federal budget as inflation-prone

KARACHI: Business community and tax experts have termed the federal budget 2016-17 as inflation-prone budget. Tax experts Adnan Mufti said the government had taken no initiative for facilitation but made cosmetic changes in that budget, which would increase inflation. Mufti added that taxpayers from service sector would again face hardships as government through that budget had disallowed input tax adjustments...

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FPCCI raises reservations over federal budget 2016-17

ISLAMABAD: Expressing serious reservations over the federal budget for 2016-17, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday announced to take extreme position, if government fails to address their concerns. Addressing a joint press conference, President FPCCI Abdul Rauf Alam announced a committee comprising officer-bearers to negotiate with the Federal Board of Revenue (FBR) on different matters...

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Defence budget increased by 11 percent

ISLAMABAD: Pakistan on Friday announced it will increase its annual military budget by 11 per cent as the country has been involved in war against terror for more than a decade. Finance minister Ishaq Dar informed the parliament in his annual budget address that the country would provide 860 billion rupees ($8.6 billion) to the armed forces during the 2016-17...

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MCCI lauds budget 2016-17

MULTAN: The business community of Multan on Saturday lauded the proposed federal budget for 2016-17 and govt's move to restore the zero-rated regime for five export-oriented sectors in its annual budget and fulfilling its commitment. President of Multan Chamber of commerce & Industry (MCCI) Fareed Mughis Sheikh, Senior Vice President, Atta Shafi Tanvir, Ex-Presidents Mian Mughis A Sheikh, Mian Iqbal...

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Budget 2016-17 does not fulfill business community expectations: Agar

KARACHI: Former President of Karachi Chamber of Commerce and Industry (KCCI), Haroon Agar has said the budget 2016-17 fell far short of business and traders community expectations. He said that massive relief has been provided to agriculture sector, five major exports sectors whereas there are many other industrial sectors that can boost export massively were ignored. He said "It's good...

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