Bjt 09 10
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Budget, Thank for make me “Fool again” Column of the day ASHFAQ REHMANI [email protected] Federal Budget 2009-10 envisaging a total outlay of Rs2.482 billion has been presented. State Minister for Finance and Economic Affairs Hina Rabbani Khar presented the Federal Budget 2009-10 in which 15 percent raise has been announced in the salaries and pension of in-service and retired government employees. The target of GDP for the next fiscal year has been fixed at 3.3 percent while measures will be adopted for bringing the inflation rate below 10 percent. The State Minister said the total allocation for Public Sector Development Program (PSDP) has been made at Rs646 billion; Rs 343 billion for Defenses Rs31.60 billion for education sector and; Rs6.5 billion for health. The allocation for Benazir Income Support Program has been raised to Rs70 billion which will be distributed among 5 million deserving people. Rs50 billion have been earmarked for the relief and rehabilitation of affected of Malakand Division. In order to impart training to the youth under National Internship Program Rs3.60 billion have been allocated. Under the program 30,000 youth will be provided professional training in their respective fields. The target for tax revenue collection has been raised by 15.7 percent to 1.3775 trillion while the rest of the expenditure will be met through foreign loans and grants. Rs178 billion are expected to be received through Friends of Pakistan Consortium. The fiscal deficit is expected at 4.9 percent for the next fiscal year. Increase in the allowance has been announced for the armed forces deployed on the western front. This allowance will be equal to one month’s initial basic pay with effect from 1st July 2009, as announced by the President of Pakistan. Budget, generally refers to a list of all planned expenses and revenues. It is a plan for saving and spending. A budget is an important concept in micreeconomics which uses a budget lines to illustrate the trade-offs between two or more goods. In other terms, a budget is an organizational plan stated in monetary terms. In summary, the purpose of budgeting is to: 1. Provide a forecast of revenues and expenditures i.e. construct a model of how our business might perform financially speaking if certain strategies, events and plans are carried out. 2. Enable the actual financial operation of the business to be measured against the forecast. Dear Reader, After Federal Budget, our “Lala Jee” says, well, it’s like all other budgets with no difference to other governments' strategies. They claim to take Pakistan into developed nations. Just how false they are, it can be seen by the spending in two most important sectors--health and education. Recently, energy sector has shown some improvement, but its not enough. One good move is the removal of duty on the wind
powered electric plants. Same should be the strategy on the solar panels and the government should set up a fund to help the entrepreneurs in entering in this field by setting up small scale power plants. European free energy market can be used as a model. When will our leaders start learning from fast changing things in the rest of the world? Lala Jee also says, it’s eyewash by government, 15 percent increment in govt. employee’s salaries, so one who had 5000 basic salary would get increment of Ra750. However, that GST previously was raised from 15% to 21%, so all the increment is already going back in to government pockets. Income tax too increased from 5% fixed to variable rate, with tax on luxury items such as soap shampoo, TV, washing machine etc. The government advocates its achievements that it declined inflation, from last year, which went up that high last year as well ( not in the years before). I request Media to give some inflation graph of past ten years so that we can see the real progress. Furthermore, where other governments like U.K give subsidy to farmers, our caring government is planning to put tax on it as well. Previous government was giving subsidy around Rs50 / 60 per liter on patrol and on electricity as well. However, this government ashamedly proclaims, that it cannot give subsidy on electricity, and still charging more than 20 rupees / liter on petrol. Its like government is taking subsidy from us. I just wanted to say that whatever we produce suggestions or views about this budget is of no worth. We are just wasting our time. I think most of the people posting comments do know at least about its basics. The Govt. officials presented this in their best capability so by grading them or posting the comments we can't alter their thinking so shortly. Posting the comments is of NO WORTH. They are just the bunkers not bankers. In “Adbi Bathik” Al Hamra Art council The mall Lahore, Lala Jee ask me, Mr. Rehmani, They are giving from right hand and taking from left hand combined with mouth and two legs. No relief for the industries. Can we make progress without industries? What was different this time, what was the achievement and what was new. Simply eyewash. I am surprised by raise in medicine prices, where a part of the nation is suffering from bombardment, diseases, how can you raise the prices of medicines.15% increment in pays is just a bean to finish the hunger. But what's the use of all this now. Budget great! It is very nice and very easy to make someone foolish, but those, who are educated, know about the governments' jugglery. I suggest the pillars of Pakistan’s present Government and other politicians, who do not obey rules and regulations of Allah (SWT) which are available in Holy Quran, in resultant they collapsed and God send other nations in their place. Don't forget the Day of Judgment, when Allah (SWT) will describe everything, which they are hiding and there will be no place to hide and not a single word for jugglery. I want to draw your attention towards the deficit amount in 2009-10. The question is why the amount is so huge despite we are getting the aid from friends of Pakistan in bulk, then why we make deficit in the budget. There is increase in taxes of gas, electricity etc., it means we are making the communication back to initial point. There is no announcement about the monitoring of aid to the Swat victims. Now industrial sector was ignored, as no incentives given in the budget. The inflation rate has increased, but the salaries of the employees didn't increase by that ratio.
powered electric plants. Same should be the strategy on the solar panels and the government should set up a fund to help the entrepreneurs in entering in this field by setting up small scale power plants. European free energy market can be used as a model. When will our leaders start learning from fast changing things in the rest of the world? Lala Jee also says, it’s eyewash by government, 15 percent increment in govt. employee’s salaries, so one who had 5000 basic salary would get increment of Ra750. However, that GST previously was raised from 15% to 21%, so all the increment is already going back in to government pockets. Income tax too increased from 5% fixed to variable rate, with tax on luxury items such as soap shampoo, TV, washing machine etc. The government advocates its achievements that it declined inflation, from last year, which went up that high last year as well ( not in the years before). I request Media to give some inflation graph of past ten years so that we can see the real progress. Furthermore, where other governments like U.K give subsidy to farmers, our caring government is planning to put tax on it as well. Previous government was giving subsidy around Rs50 / 60 per liter on patrol and on electricity as well. However, this government ashamedly proclaims, that it cannot give subsidy on electricity, and still charging more than 20 rupees / liter on petrol. Its like government is taking subsidy from us. I just wanted to say that whatever we produce suggestions or views about this budget is of no worth. We are just wasting our time. I think most of the people posting comments do know at least about its basics. The Govt. officials presented this in their best capability so by grading them or posting the comments we can't alter their thinking so shortly. Posting the comments is of NO WORTH. They are just the bunkers not bankers. In “Adbi Bathik” Al Hamra Art council The mall Lahore, Lala Jee ask me, Mr. Rehmani, They are giving from right hand and taking from left hand combined with mouth and two legs. No relief for the industries. Can we make progress without industries? What was different this time, what was the achievement and what was new. Simply eyewash. I am surprised by raise in medicine prices, where a part of the nation is suffering from bombardment, diseases, how can you raise the prices of medicines.15% increment in pays is just a bean to finish the hunger. But what's the use of all this now. Budget great! It is very nice and very easy to make someone foolish, but those, who are educated, know about the governments' jugglery. I suggest the pillars of Pakistan’s present Government and other politicians, who do not obey rules and regulations of Allah (SWT) which are available in Holy Quran, in resultant they collapsed and God send other nations in their place. Don't forget the Day of Judgment, when Allah (SWT) will describe everything, which they are hiding and there will be no place to hide and not a single word for jugglery. I want to draw your attention towards the deficit amount in 2009-10. The question is why the amount is so huge despite we are getting the aid from friends of Pakistan in bulk, then why we make deficit in the budget. There is increase in taxes of gas, electricity etc., it means we are making the communication back to initial point. There is no announcement about the monitoring of aid to the Swat victims. Now industrial sector was ignored, as no incentives given in the budget. The inflation rate has increased, but the salaries of the employees didn't increase by that ratio.
