Pakistan Observer

20% adhoc relief for govt employees, pensioners ,Salient features , Cabinet okays budget proposals

Staff Reporter

Saturday, June 02, 2012 - Islamabad—Finance Minister Abdul Hafeez Shaikh has announced 20% ad hoc relief in pay and pension of Federal Government employees during the next financial year.

While presenting the Federal Budget in the National Assembly on Friday, the Finance Minister said the government is aware of the difficulties being faced by the civil servants and said credit goes to the government that it provided relief to them in the past four years as well.

However contrary to expectations, the Minister did not announce increase in house rent and conveyance allowance of the civil servants.

Salient features

Islamabad—The budget 2012-13 has the following salient features:

a) The size of the Budget is 15.8% higher than the size of budget of 2011-12.

b) The resource availability during 2012-13 has been estimated at Rs 2,719 billion against Rs 2,463 billion in the budget estimates of 2011-12.

c) The revenue receipts (net) for 2012-13 have been estimated at Rs 1,775 billion indicating an increase of 16.1% over the budget estimates of 2011-12.

d) The provincial share in federal revenue receipts is estimated at Rs 1,459 billion during 2012-13 which is 21.2% higher than the budget estimates for 2011-12.

e) The net capital receipts for 2012-13 have been estimated at Rs 478 billion against the budget estimates of Rs 396 billion in 2011-12 i.e. an increase of 20.8%.

f) The external receipts in 2012-13 are estimated at Rs 387 billion. This shows a decrease of 6.5% over the budget estimates for 2011-12.

g) The overall expenditure during 2012-13 has been estimated at Rs 3,203 billion of which the current expenditure is Rs 2,612 billion and development expenditure is Rs 591 billion. Current expenditure has been estimated to be lower than the revised estimates for 2011-12 by around 1%, while development expenditure will increase by 23.7% in 2012-13 over the revised estimates of 2011-12.

h) The share of current expenditure in total budgetary outlay for 2012-13 is 81.6% as compared to 84.6% in revised estimates for 2011-12.

i) The expenditure on General Public Services is estimated at Rs 1,877 billion which is 71.9% of the current expenditure.—APP

Cabinet okays budget proposals

Staff Reporter

Islamabad—The federal cab-net on Friday approved budget proposals for the upcoming fiscal year 2012-13 with a total outlay of Rs 3110 billion. Prime Minister Syed Yusuf Raza Gilani chaired the cabinet meeting which was briefed by Finance Minister Dr Hafeez Shaikh on budget proposals to be presented in the parliament later today following the approval.

This will be the first time in Pakistan’s history that a democratic government presents its fifth national budget during its tenure. The finance ministry on Thurs-day launched the Economic Survey of Pakistan 2011-2012 – a pre-budget document highlighting the overall performance of the economy in the outgoing fiscal year.

According to the survey, Pakistan had achieved an estimated GDP growth of 3.7 per cent in the out-going fiscal year, falling short of its targeted growth of 4.2 per cent.

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