Highlights of Pakistan Budget 2019-2020

Following are the key points for Budget 2019-2020;

• Ministers have agreed for 10 percent cut in salaries.
• Salaries of civilian employees from grade 1-16 have been increased by 10 per cent.
• Rs-100 billion for soft loans under Kamyab Jawan Program.
• 5 percent ad-hoc relief for government employees from grade 17 to 20.
• 10 percent ad-hoc relief for armed forces employees.
• No increase in civil servants of grade 21 and 22.
• Pensions for retired employees increased by 10 per cent. 
• Minimum wage set at Rs-17500.
• 80,000 deserving people will be provided interest free loans every month.
• BISP stipend has been increased from Rs-5000 to Rs-5500.
• PTI government will not receive any loan from State Bank of Pakistan to bridge budget deficit.

• The total outlay of the budget 2019-20 is Rs-7022 billion. 
• Rs-40 billion subsidy will be provided on gas and electricity.
• GST to remain unchanged at 17 percent.
• 5.2 percent federal excise duty on 1000 CC locally developed vehicles.
• 5 percent federal excise duty on the 1001 to 2000 CC locally developed vehicles. 
• Sales tax on sugar increased from 8 percent to 17 percent.
• Rs-1000 million for Kartarpur development.
• Rs-1266 million allocated for 16 projects for Aviation Division.
• Tax net will be increased as only 2000000 people in Pakistan file tax returns of them 600,000 are employees.
• Higher Education Commission has been allocated an amount of over Rs 28,646 million for the ongoing and new schemes. 
• Pakistan’s Defense budget will remain Rs1150 billion.
• Rs-3955 billion will be given to the provinces.
• Rs-210 billion has been earmarked to implement various physical planning and housing initiatives including Urban and Regional Planning Framework, Smart City Plans and Integrated Strategic Development Plans, including Prime Minister’s Naya Pakistan Housing Program and slum up-gradation program.
• Rs-45.5 billion has been allocated for Karachi’s development programs.
• The PSDP allocation for Climate Change Sector has been kept at Rs-1102 million.
• Rs-63.5 billion for special areas including merged districts of Khyber Pakhtunkhwa, Azad Jammu and Kashmir and Gilgit-Baltistan.
• A special allocation for Rs-75 billion will be provided for equitable Regional Development in order to accelerate development of less developed areas and Rs-22 billion are set aside for 10 year development plan of merged districts.
• The National Agriculture Emergency Program intends to spend Rs-290 billion in the next five years to boost the sector.
• Rs-271 billion has been allocated for subsidy. 
• Trade deficit was reduced by $4 bullion.
• Trade deficit stands at $22 billion.
• The government has taken measures to boost exports.
• Rs2891 billion has been allocated to pay the interests.
• Rs70 billion has been allocated for water reservoirs.
• Rs-1800 billion kept for development programs including Rs-950 billion kept for federal development program.
• Government expenses will be cut from Rs460 billion to Rs-437 billion.
• Pakistan facing $ 97 billion debt.
• Trade deficit reached $32 billion.
• Circular debt reached 1200.

To be continued.