Budget 2020-21 Live: Pakistan Tehreek-e-Insaf-led Federal government announces the budget for this fiscal year. This is the second budget to be proposed by PTI. The PTI-led government had announced its first budget in June 2019 and prices of different commodities and taxes on them were decided to be followed in Pakistan.
Important Features of Budget 2020-21
– Total outlay of Budget 2020-21 Set at Rs 7,294.9 Billion.
– GDP Ratio Crashed into Negative Due to Coronavirus
– Defence Budget Earmarked at 1.2 Trillion
– FBR Fails to Meet Targets Once Again, Falls 30% Short
– Govt Allocates Rs 24 Billion for Railway 41 Projects.
– Govt Allocates Rs 12 Billion in PSDP for Agriculture Sector.
– Govt Allocates Rs 4.5 Billion for Education Ministry.
– Federal Development program to get Rs 650 Billion in Budget.
– Rs 2.496 Trillion Set Aside for Interest Payments.
– Rs 100 million Allocated for Monitoring Unit of Ehsaas Programme
– There will be no Increase in Salaries and Pensions for Civil Servants.
Apart from this, new taxes may not be introduced this year. Finance, Dr. Abdul Hafeez Shaikh had earlier assured that no new tax will be imposed. Sheikh informed that the ministry has met with all stakeholders and some 200 proposals have been accepted.
Hammad Azhar presents the budget 2020-21
Budget 2020-21: Federal Government Allocates Rs14bn For Three Hospitals In Karachi
According to details, the federal budget 2020-21 statement mentioned that the government has allocated Rs14.18 billion for three hospitals. The federal government has allocated Rs. 9.242bn for the National Institute of Cardiovascular Diseases (NICVD), Rs. 3.877bn for Jinnah Postgraduate Medical Centre (JPMC), and Rs. 1.07bn for National Institute of Child Health (NICH).
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Budget 2020-21: Rs. 83.36 billion allocated for Education
According to the budget documents, the budget for education and services has been increased by about 7.9% for the next financial year. It should be noted that in the current financial year 2019-20, the amount of Rs. 77.20 billion was allocated which has been increased to Rs. 83.36 billion.
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Budget 2020-21: Health budget increase by 130%
In the budget for the next financial year, the amount allocated for health has been significantly increased to more than Rs. 25 billion. The budget presented in the budget document states that Rs 11 billion was allocated for health for the current financial year 2019-20, but for the next financial year 2020-21, it has been increased by about (130%). According to the document, the government has allocated Rs 25.50 billion for health for the next financial year.
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Opposition criticizes govt for not growing salaries, pensions in the budget
Leader of the opposition Shehbaz Sharif criticized the federal government today (Jun 12) for not increasing salaries and pensions of government employees in the recent Budget. According to the details, the government has announced its second annual budget in which the defence budget has been increased by 12% but there is no relief for the government employees in the budget.
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Decision not to increase salaries and pensions rejected
Chaudhry Muhammad Sarfraz, Central President Punjab Teachers Union has said that he rejects the decision not to increase salaries and pensions. According to details, Chaudhry Muhammad Sarfraz, in his address to the teachers union, said that he rejects the decision not to increase salaries and pensions.
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Ehsaas Program: 208 billion allocated in budget 2020-21
Special Assistant on Poverty Alleviation and Social Safety to the Prime Minister Sania Nishtar said that Rs 208 billion has been earmarked in the budget for the Ehsaas program. She further stated that there are many programs running under Ehsaas Division and many new programs are being launched, including Ehsaas Nashonuma program.
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PML-N, PPP rejects budget, term it ‘anti-people’
Pakistan Muslim League-Nawaz (PML-N) President and Leader of the Opposition Shehbaz Sharif has rejected the second federal budget presented by the Pakistan Tehreek-e-Insaf (PTI) government termed it as anti-people.
Shehbaz Sharif said that this budget will lead to a further rise in inflation and unemployment, while the business downturn has set a historic record.”
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The pointers of PSDP for the Fiscal year 2020-21
The government has presented the budget for the fiscal year 2020-21 today (Jun 12) and assigned Rs1.324 trillion for the Public Sector Development Programme. The following are the pointers of distributions under the Public Sector Development Programme (PSDP) for various divisions and ministries for the FY 2020-2021.
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Budget 2020-21: Rs 1.29 trillion allocated for defence
The federal government has presented a budget for the financial year 2020-2020 in which it has been proposed to allocate Rs. 1.29 trillion for the defence budget. It may be recalled that during the financial crisis in the country during the Coronavirus, the government has presented a budget of Rs 70.13 trillion and announced no new tax.
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National Assembly Budget Session adjourned till Monday 4 pm
The National Assembly session was adjourned till 4 pm on Monday. Presiding over the National Assembly session on Friday, Speaker Asad Qaiser adjourned the sitting till 4 pm Monday. A meeting of the National Assembly was held under the chairmanship of Speaker Asad Qaiser to present the budget for the next fiscal year in which Prime Minister Imran Khan also participated.
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Federal Minister Hammad Azhar Presents The Budget 2020-21
Federal Minister of industries and production Hammad Azhar is presenting the budget for the fiscal year 2020-21 in National Assembly. While presenting the budget, he said, “No measures have been taken in the past to curb money laundering”
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Budget 2020-21: What Are The Prices Of Fruits & Vegetables?
Budget 2020-21 is being announced in the National Assembly. However, the prices of vegetables and fruits have been revealed.
Here are the prices of vegetables and fruits.
|Fruits & vegetables||Weight||2020 Rates||2019 Rates|
|Bananas (Kela) Local||1 Kg||115.25||125.96
Budget 2020-21: What Are The Prices Of Dairy
The new prices of meat and dairy products have been revealed by BOL News.
According to details, the budget for the fiscal year 2020-21 is going to be presented in the parliament today. Prime Minister Imran Khan has approved the new budget.
Here are the new prices for meat and dairy products.
|Meat/Dairy products||Weight||Rates 2020||Rates 2019|
|Egg hen (farm)||1 Dozen||109.95||87.83
|Chicken Farm Broiler||1 Kg||223.41||185.85
|Mutton (Average Quality) ||1 Kg||943.69||847.78
|Beef with Bone (Average Quality)||1 Kg||452.31||407.02
|Cooked Beef at Average Hotel ||Per plate||137.99||123.36
|Milk fresh (Un-boiled) ||1 Kg||96.44||88.58
|Curd (Dahi) Loose||1 Kg||110.6||102.93
Budget 2020-21: Prices Of Ration Commodities Revealed
What are the new prices of ration items? BOL News has revealed the new prices of ration commodities.
According to details, the prices of several ration items have been increased.
Here are the prices.
|Rashion||Weight||Rates 2020||Rates 2019|
|Rice IRRI-6/9 (Sindh/Punjab) ||1 Kg||67.24||58.57
|Rice Basmati Broken (Average Quality) ||1 Kg||84.79||77.87
|Wheat Flour Bag||20 Kg||972.69||797.13
|Bread plain (Small Size) ||Each||50.16||42.21
|Pulse Gram||1 Kg ||143.23||126.19
|Pulse Moong||1 Kg ||283.02||156.98
|Pulse Mash||1 Kg ||249.24||166.6
|Pulse Masoor||1 Kg ||162.45||121.82
|Vegetable Ghee Tin||2.5 kg Tin||641.41||506.64
|Vegetable Ghee Pouch||Per Kg||247.26||192.73
|Salt Powdered ||800 gm pack||30||28.95
|Sugar Refined ||1 Kg||81.21||68.08
|Gur (Average Quality) ||1 Kg||123.32||99.04
|Mustard Oil||1 Kg||219.49||191.67
Budget 2020-21: Federal Cabinet Decides Not To Increase Salaries Of Government Employees
The federal cabinet has decided not to increase the salaries and pensions of government employees. According to details, the federal cabinet meeting has ended and Prime Minister Imran Khan has approved the budget for the fiscal year 2020-21. He has signed the budget document. In the meeting, it has been decided that pensions and salaries of government employees will remain the same as the previous year.
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Federal Cabinet Approves Budget 2020-21
The federal cabinet has formally approved the federal budget for the fiscal year 2020-21, BOL News reported on Friday. The cabinet meeting held today and was chaired by the Prime Minister of Pakistan. Adviser to PM on Finance Abdul Hafeez Shaikh has briefed the cabinet about the budget. The budget will now be presented to the National Assembly for approval.
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Budget 2020-21: Which Ministry Gets How Much Development Funds?
Which Ministry will get how much development funds? Which ministry will not be considered? BOL News has revealed the information regarding the budget allocated for the different departments and sectors in Pakistan. According to sources, the total volume of the federal development budget for the next financial year has been allocated Rs. 650 billion.
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Budget 2020-21: PTI Govt Will Present Federal Financial Plan Today
The federal budget for the fiscal year 2020-2021 will be presented today in the national assembly with a major focus to manage the ongoing COVID-19 pandemic. According to details, Federal Minister for Industries and Production Hammad Azhar will present the budget in the National Assembly. Budget 2020-21 will have a volume of Rs 7600 billion, whereas the amount of Rs 4950 billion is set as the target of tax revenue.
— National Assembly of Pakistan (@NAofPakistan) June 12, 2020
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Budget 2020: What Will Be The Relief For A Common Man?
The federal government is going to announce a budget for the coming fiscal year. The news has raised several significant questions in people’s minds. The common question everyone asks is how this budget will benefit a common citizen of Pakistan. The government has ensured that no new tax will be imposed and more funds will be allocated for measures against coronavirus. This year proved to be a hard one for everyone, from influential people to common man. It is because of the economic crisis resulted from coronavirus pandemic.
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Budget 2020-21: Abdul Hafeez Shaikh Presents The Economic Survey Of Pakistan
Advisor to the Prime Minister on Finance Abdul Hafeez Shaikh has presented the Economic Survey of Pakistan 2019-20 today. Hafeez Shaikh is addressing media on regarding the Economic Survey. He said that Pakistan’s loans increased to Rs25,000bn and they would amount to Rs30,000bn if the total debts and liabilities were included.
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Budget 2020-21: SBP Proposes To Abolish WHT On Cash Withdrawal
The State Bank of Pakistan has proposed to abolish withholding tax (WHT) on cash withdrawal from banks in Budget 2020-21. It has also asked for doing away with Super Tax on the banking sector. The State Bank of Pakistan has also suggested a tax exemption for the Corporate Restructuring Company (CRC) for five years from starting its operations.
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Budget 2020-21: IMF Allows Increase In Salaries Of Government Employees
The International Monetary Fund (IMF) has allowed increasing the salaries of government employees in the budget 2020-21. According to details, the decision has been announced during the third round of budget negotiations between IMF and Pakistan that took place in Islamabad on Tuesday. IMF has also allowed an increase in the pension of retired government employees. Also, the IMF agreed that there will be no increase in electricity bills and gas tariffs till October.
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Budget 2020-21: PM Imran Khan To Chair A Special Cabinet Meeting Today
Prime Minister Imran Khan has called a special meeting of the Federal cabinet today regarding Budget 2020-21. According to details, a special cabinet meeting will be held in which officials will discuss the budget 2019-20 budget. The federal budget for this year is likely to be approved as well.
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Budget 2020-21: Razak Dawood Says Government Will Ensure New Jobs Creation
Advisor to the Prime Minister on Commerce and Investment Razak Dawood said on Wednesday that the government will make sure new job creation in budget 2020-21 to execute its true vision in the country. The advisor said to the sources that the government will follow the three-prong strategy to accomplish the objective of producing economic activity, following ‘Make in Pakistan ‘policy’ and tariff rationalization to increase export in the country.
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Budget 2020-21: What Are You Expecting This Year?
Budget 2020-21 is going to be announced soon by the Federal government in Pakistan. Pakistan Tehrik-e-Insaf-led federal government had presented its first annual budget in June 2019. Federal Minister for Revenue Hammad Azhar had presented the new budget in the parliament. It is necessary to have a glimpse of the budget 2019-20.
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