Pakistan’s federal budget summary 2014 15 (Macro-Economics,Iqra University)Mohammad Yaseen
The Report contains
What is a Budget, Importance of Budget, Federal Budget Of Pakistan 2014-15, Review Of budget 2014-15, Budget At a Glance, Budget Sectors, Budget Highlights, Positive points Of budget, Negative points of Budget and Conclusion
The document summarizes the key aspects of Pakistan's Federal Budget for 2014-15. It provides an overview of the budget for 2013-14, including estimated and revised revenues and expenditures. Some of the key points covered include:
1) Total resources for 2013-14 were initially estimated at Rs. 3.01 trillion but revised estimates increased this to Rs. 3.68 trillion.
2) Net revenue receipts for 2013-14 were initially estimated at Rs. 1.92 trillion but revised estimates increased this to Rs. 2.18 trillion.
3) The provincial share in federal revenue receipts for 2013-14 was initially estimated at Rs. 1.50 trillion but revised estimates decreased this to Rs. 1
The document provides information about federal budgets. It defines what a budget is and discusses different types of budgets including government budgets. It explains that a federal budget forecasts spending for the upcoming year in a country. The budget process involves preparation, approval, implementation, and auditing. Budgets can be executive, legislative, capital, operating, line-item, performance-based, or zero-based. It also discusses budget surpluses, deficits, and discretionary vs entitlement spending. The document concludes by summarizing highlights and criticisms of Pakistan's 2015-2016 federal budget, which aimed to strengthen industry and agriculture through incentives but faced challenges including poor governance and an imbalance of spending priorities.
The document provides an analysis of Pakistan's federal budget for 2015-2016. It outlines the key sources and figures of the budget, including total outlays of Rs. 4,451 billion and breakdowns of current vs. development expenditures. It notes that the largest expenses are debt servicing and defense. The analysis criticizes the underfunding of health and education and argues the budget does not achieve Quaid-e-Azam's vision of a social welfare state. It recommends increasing direct taxes, reducing subsidies, and investing more in human capital development.
This document provides an overview of the budget and economic highlights for KF &Co for the 2014-2015 fiscal year. It summarizes key economic data for Pakistan including a GDP growth of 4.14% in 2013-2014. It also outlines proposed changes to Pakistan's Income Tax Ordinance of 2001, including introducing a new concept of "filers" and "non-filers" and changes to taxation of capital gains, bonus shares, and the incomes of non-profit organizations. Significant proposed amendments to the tax code are summarized relating to income definitions, tax credits, minimum tax rates, and other areas.
Arsalan Yaqoob is a a corporate finance professional by profession and also passionate about transforming organisations and lives; he is dedicated, ambitious and goal-driven trainer with 8 years’ progressive experience in professional training of Business Analysis subjects (E pillars) of CIMA, BMS of ICAP, Strategic Business Leader (SBL) of ACCA.
.........
Almighty ALLAH SWT has equipped him with professional certifications and academic qualification, in professional he is Professional Accounting Affiliate (PAA-ICAP), ACCA Member, PIPFA Member, and CIA (USA) Member and in academic he has completed post-graduation / 16 years of education from Karachi University. His accountancy career was started with big audit firm, first move to industry was with TRG (A high-tech US Based MNC conglomerate) group Companies (namely Digital Globe Services – DGS Group) listed on London Stock Exchange (AIM), at present he is working as a senior finance professional at leading organization in healthcare industry (Services & Pharma Manufacturing, both).
......
As a true transformational trainer his journey has been like a roller coaster from ICAP Inter-firm presentation skills competition to teaching ACCA Paper F4 at Hot FM105; he champed Chartered Accountants’ Students Association Conference 2012 as a lead presenter on Topic “Hope sustains life” – As a professional trainer he is loaded to connect Academia with Corporate Industry, his next big thing is to progress with his methodology and sharing the same in books and videos.
This document discusses fiscal and budgetary policy in Pakistan. It defines fiscal policy as the regulation of government spending and taxation to achieve economic goals. The key tools of fiscal policy are taxes (direct and indirect), government spending (current and development), and deficit financing. The objectives of fiscal and budgetary policy in Pakistan include economic growth, resource allocation, stability, employment, and poverty reduction. The budget is divided into revenue and capital sections, with the former focusing on current expenditures and the latter on development spending and external/internal sources of funding. Deficit budgets can be financed through past savings, central bank borrowing, or new currency issuance.
The document summarizes key aspects of Pakistan's 2014-15 budget. It outlines the total budget outlay of Rs. 4302 billion with revenues of Rs. 2225 billion and expenditures of Rs. 4302 billion. Major revenue sources include net revenue receipts (52%), external receipts (20%), and estimated provincial surplus (7%). The largest allocations are for general public services (60%), development expenditure (19%), and defense services (16%). The budget aims to achieve GDP growth of 5.1% and inflation of 8% while increasing spending on projects, reducing the deficit, and implementing tax reforms.
Pakistan’s federal budget summary 2014 15 (Macro-Economics,Iqra University)Mohammad Yaseen
The Report contains
What is a Budget, Importance of Budget, Federal Budget Of Pakistan 2014-15, Review Of budget 2014-15, Budget At a Glance, Budget Sectors, Budget Highlights, Positive points Of budget, Negative points of Budget and Conclusion
The document summarizes the key aspects of Pakistan's Federal Budget for 2014-15. It provides an overview of the budget for 2013-14, including estimated and revised revenues and expenditures. Some of the key points covered include:
1) Total resources for 2013-14 were initially estimated at Rs. 3.01 trillion but revised estimates increased this to Rs. 3.68 trillion.
2) Net revenue receipts for 2013-14 were initially estimated at Rs. 1.92 trillion but revised estimates increased this to Rs. 2.18 trillion.
3) The provincial share in federal revenue receipts for 2013-14 was initially estimated at Rs. 1.50 trillion but revised estimates decreased this to Rs. 1
The document provides information about federal budgets. It defines what a budget is and discusses different types of budgets including government budgets. It explains that a federal budget forecasts spending for the upcoming year in a country. The budget process involves preparation, approval, implementation, and auditing. Budgets can be executive, legislative, capital, operating, line-item, performance-based, or zero-based. It also discusses budget surpluses, deficits, and discretionary vs entitlement spending. The document concludes by summarizing highlights and criticisms of Pakistan's 2015-2016 federal budget, which aimed to strengthen industry and agriculture through incentives but faced challenges including poor governance and an imbalance of spending priorities.
The document provides an analysis of Pakistan's federal budget for 2015-2016. It outlines the key sources and figures of the budget, including total outlays of Rs. 4,451 billion and breakdowns of current vs. development expenditures. It notes that the largest expenses are debt servicing and defense. The analysis criticizes the underfunding of health and education and argues the budget does not achieve Quaid-e-Azam's vision of a social welfare state. It recommends increasing direct taxes, reducing subsidies, and investing more in human capital development.
This document provides an overview of the budget and economic highlights for KF &Co for the 2014-2015 fiscal year. It summarizes key economic data for Pakistan including a GDP growth of 4.14% in 2013-2014. It also outlines proposed changes to Pakistan's Income Tax Ordinance of 2001, including introducing a new concept of "filers" and "non-filers" and changes to taxation of capital gains, bonus shares, and the incomes of non-profit organizations. Significant proposed amendments to the tax code are summarized relating to income definitions, tax credits, minimum tax rates, and other areas.
Arsalan Yaqoob is a a corporate finance professional by profession and also passionate about transforming organisations and lives; he is dedicated, ambitious and goal-driven trainer with 8 years’ progressive experience in professional training of Business Analysis subjects (E pillars) of CIMA, BMS of ICAP, Strategic Business Leader (SBL) of ACCA.
.........
Almighty ALLAH SWT has equipped him with professional certifications and academic qualification, in professional he is Professional Accounting Affiliate (PAA-ICAP), ACCA Member, PIPFA Member, and CIA (USA) Member and in academic he has completed post-graduation / 16 years of education from Karachi University. His accountancy career was started with big audit firm, first move to industry was with TRG (A high-tech US Based MNC conglomerate) group Companies (namely Digital Globe Services – DGS Group) listed on London Stock Exchange (AIM), at present he is working as a senior finance professional at leading organization in healthcare industry (Services & Pharma Manufacturing, both).
......
As a true transformational trainer his journey has been like a roller coaster from ICAP Inter-firm presentation skills competition to teaching ACCA Paper F4 at Hot FM105; he champed Chartered Accountants’ Students Association Conference 2012 as a lead presenter on Topic “Hope sustains life” – As a professional trainer he is loaded to connect Academia with Corporate Industry, his next big thing is to progress with his methodology and sharing the same in books and videos.
This document discusses fiscal and budgetary policy in Pakistan. It defines fiscal policy as the regulation of government spending and taxation to achieve economic goals. The key tools of fiscal policy are taxes (direct and indirect), government spending (current and development), and deficit financing. The objectives of fiscal and budgetary policy in Pakistan include economic growth, resource allocation, stability, employment, and poverty reduction. The budget is divided into revenue and capital sections, with the former focusing on current expenditures and the latter on development spending and external/internal sources of funding. Deficit budgets can be financed through past savings, central bank borrowing, or new currency issuance.
The document summarizes key aspects of Pakistan's 2014-15 budget. It outlines the total budget outlay of Rs. 4302 billion with revenues of Rs. 2225 billion and expenditures of Rs. 4302 billion. Major revenue sources include net revenue receipts (52%), external receipts (20%), and estimated provincial surplus (7%). The largest allocations are for general public services (60%), development expenditure (19%), and defense services (16%). The budget aims to achieve GDP growth of 5.1% and inflation of 8% while increasing spending on projects, reducing the deficit, and implementing tax reforms.
Macroeconomic correlates in the FY2015 budget were inconsistent while key fiscal targets did not reflect reality in designing of the framework.
The basis of achieving 7.3 percent GDP growth remains a suspect without substantial private sector investment which has shown a continuous declining trend, underscored the CPD analysis of the National Budget for FY2015.
The analyses flagged that fiscal measures in the budget are largely in order and tuned to budgetary objectives but not adequate to attain expected GDP growth.
Budget Analysis of 2016-17 of BangladeshRasel Ahamed
The document provides an analysis of Bangladesh's budget for fiscal year 2016-2017. Some key points:
- The budget totals Tk. 3,40,605 crore with a GDP growth target of 7.2%. Revenue is projected at 12.4% of GDP and expenditure at 17.4% of GDP, resulting in a budget deficit of 5% of GDP.
- Private investment is expected to rise to 23.3% of GDP. Inflation is projected to decline to 5.8%. The annual development program amounts to Tk. 1,10,700 crore, higher than the previous year.
- Major expenditures include education, public services, interest payments, and transport. Revenue sources
Budget is an estimate of income and expenditure for a set period of time.
From the perspective of Bangladesh the most important issues that are going to impact middle and poor class people need to be discussed
Enhancing Accountability in Public Finance through Performance in Bangladeshicgfmconference
The document discusses enhancing accountability in public finance in Bangladesh through linking performance to accountability. It outlines Bangladesh's progress in public financial management reforms over 15 years, including establishing a macroeconomic framework and institutional support for planning and budgeting. While Bangladesh has made progress, public opinion polls are not yet a reality due to limited public awareness of financial processes and nascent performance budgeting systems. Intermediate steps are being taken to evolve performance orientation and accountability, such as pre-budget consultations and training programs to strengthen performance monitoring.
The Pakistani economy achieved 4.2% growth in 2014-15, the highest since 2008-09, despite floods, protests, and declining commodity prices. Per capita income was $1,512 and unemployment was 6%. Inflation remained under 10% due to effective monetary policy. The services and industrial sectors grew 4.95% and 3.62% respectively. The trade deficit was $17 billion with exports of $26.9 billion and imports of $44 billion. The budget deficit was 5% and tax revenues were expected to increase to 11.5% of GDP. China and Pakistan signed $45 billion in agreements and China-Pakistan Economic Corridor agreements were deemed "credit positive" by ratings agencies.
The document analyzes Bangladesh's national budget for fiscal year 2015-16. It notes both advantages, such as low inflation and stable exchange rates, and challenges for the economy, including sluggish private investment and poor revenue generation. The budget aims for 7% GDP growth. It projects increases in both revenue and expenditure as a percentage of GDP, with the budget deficit remaining at 5% of GDP. However, the analysis questions whether the fiscal framework is credible and sustainable given past budget overruns.
The document provides an overview of the key features of the Indian Union Budget for 2015-2016. It discusses the state of the Indian economy, challenges, and the government's plans and targets in areas such as fiscal policy, agriculture, infrastructure, financial markets, taxation, and social programs. The budget aims to achieve high economic growth of 8-8.5%, implement important reforms like GST and financial inclusion programs, boost investment in infrastructure, and address issues in sectors like agriculture, education and healthcare.
Bangladesh on
Development Highway:
The Time is Ours
Budget Speech 2017-18
Abul Maal Abdul Muhith
Minister
Ministry of Finance
Government of the People’s Republic of Bangladesh
18 Jaisthya 1424
1 June 2017
Budget Speech, 2017-18 ,Bangladesh
The document summarizes key aspects of the 2019-20 Indian Union Budget as it relates to education. It notes that the estimated education budget for 2019-20 is Rs. 93,843 crore, up from Rs. 85,010 crore in 2018-19. It also outlines innovations like integrated B.Ed. programs and the "Revitalizing Infrastructure and Systems in Education" initiative. The budget allocates Rs. 3,27,879 crore for Centrally Sponsored Schemes and Rs. 38,572 crore for the National Education Mission, up from Rs. 32,334 crore the previous year. It also includes 10% reservation for economically weaker sections in education and jobs.
The document summarizes key aspects of Bangladesh's fiscal year 2016-17 budget, including:
- Total budget of Tk 3,40,605 crore, a 29% increase over the previous year.
- Major allocations include Tk 50,017 crore for education, Tk 39,951 crore for interest payments, and Tk 35,920 crore for transportation and communication.
- Tax revenue from the NBR contributes 60% of the budget, while non-tax revenue, foreign loans, and domestic financing make up the remaining sources of funds.
- Key expenditures include Tk 34,370 crore for education and technology and Tk 18,383 crore for defense services.
Major economic indicators of Banladesh in mid 2015Zahidul Islam
- Average general inflation in Bangladesh decreased to 6.41% in June 2015, while export receipts increased by 3.35% to USD 31.20 billion and import payments increased by 12.21% to USD 41.35 billion in FY15 compared to FY14.
- Remittances increased by 7.65% to USD 15.32 billion in FY15, and foreign exchange reserves increased to USD 25.02 billion in June 2015 compared to USD 23.71 billion in May 2015.
- Tax revenue collection during the first eleven months of FY15 was 14.20% higher at Tk. 118042.32 crore compared to the same period of the previous fiscal year.
The analysis of the budget for Education sector in BangladeshRabiul Alam Hamon
The document analyzes Bangladesh's education sector budget. It finds that while Bangladesh has made progress toward education goals like universal primary education, challenges remain like low quality and absenteeism. The education budget as a percentage of GDP and the total budget is declining and projected to decline further. It recommends significantly increasing the budget allocation for education to improve teaching quality, fund non-formal education, invest in technical and vocational education, and emphasize efficient resource utilization.
The budget document summarizes the Pakistan national budget for 2017-2018. It outlines key figures such as the total budget amount of Rs. 4.75 trillion and development expenditures of Rs. 1,340.1 billion. Major allocations include Rs. 1,001 billion for the Federal PSDP, with largest allocations to infrastructure, transport, and energy sectors. The budget aims to achieve economic growth targets including 6% GDP growth and reducing the fiscal deficit and poverty rate.
The document provides an overview of the key highlights from the Indian Union Budget for 2015, including:
- GDP growth is projected to be between 8-8.5% for the fiscal year with a fiscal deficit target of 4.1% of GDP.
- Inflation rates have declined with WPI inflation at 0.11% in December 2014 and CPI inflation at 5%.
- Major tax reforms announced include the planned rollout of GST from April 2016, abolition of wealth tax, and an increase in service tax rate to 14%.
- Infrastructure investment was emphasized through tax-free infrastructure bonds and a national investment infrastructure fund.
Imbalance between development and non development expenditureFehmeeda Zeenat
The document discusses the imbalance between development and non-development expenditures in Pakistan. It notes that a large portion of Pakistan's expenditures go toward non-development items like defense, debt payments, subsidies, and administration. This leaves little room for development spending on infrastructure and social services. Reducing non-development costs and prioritizing development expenditures could help Pakistan address issues like poverty, unemployment, and economic growth. However, cutting defense spending is challenging given Pakistan's security situation. Overall, striking the right balance between non-development and development budgets is important for Pakistan's fiscal stability and socioeconomic progress.
The Economic Survey 2014-15 highlights India's strong growth prospects, forecasting double digit GDP growth for the current fiscal year. It credits reforms like deregulating diesel prices, increasing FDI caps, and overhauling subsidies as helping propel the economy past recent slowdowns. The Survey calls for continued expenditure control and switching to reduce deficits and ensure sustainable growth over the medium term. It also advocates targeted delivery of subsidies using Aadhaar, Jan Dhan, and mobile numbers to more efficiently reach the poor.
The document summarizes Pakistan's 2013-2014 economic survey and 2014-2015 budget. The economic survey outlines key economic indicators and sectors such as agriculture, manufacturing, education, health, transportation and energy. It notes declines in the economy due to corruption, terrorism and war in Afghanistan. The budget summary highlights the total outlay, resource availability, revenue, expenditures and development spending. It also discusses reactions against the budget, including protests and criticism from opposition leaders.
This document summarizes Afghanistan's national budgeting process. It explains that Afghanistan's budget system is still developing given the country's history of instability. The Ministry of Finance prepares an annual budget that is approved by the National Assembly. For the 2014-15 fiscal year:
- The total budget was estimated at Afs 436.17 billion (US$7.65 billion), accounting for 32% of GDP.
- The operating budget was Afs 283.48 billion (US$4.97 billion), or 65% of the total budget. Most was allocated to salaries.
- The development budget was Afs 152.69 billion (US$2.68 billion), or 35% of the total budget.
The document discusses various accounting concepts related to adjusting accounts and preparing financial statements. It includes questions about the differences between cash basis and accrual basis accounting, examples of accounts that require adjustment such as prepaid expenses, depreciation, accrued revenues and expenses, and unearned revenues. It also provides examples of adjusting journal entries companies would make.
This course focuses on ways in which accounting principles are used in business operations.
Students learn to identify and use Generally Accepted Accounting Principles (GAAP), ledgers and journals, and steps of the accounting cycle.
This course introduces bank reconciliation methods, balance sheets, assets, and liabilities.
Students also learn about financial statements, including assets, liabilities, and equity. Business ethics are also discussed.
Includes 10 hours of 1-on-1 live, on demand instructional support from SMARTHINKING.
Macroeconomic correlates in the FY2015 budget were inconsistent while key fiscal targets did not reflect reality in designing of the framework.
The basis of achieving 7.3 percent GDP growth remains a suspect without substantial private sector investment which has shown a continuous declining trend, underscored the CPD analysis of the National Budget for FY2015.
The analyses flagged that fiscal measures in the budget are largely in order and tuned to budgetary objectives but not adequate to attain expected GDP growth.
Budget Analysis of 2016-17 of BangladeshRasel Ahamed
The document provides an analysis of Bangladesh's budget for fiscal year 2016-2017. Some key points:
- The budget totals Tk. 3,40,605 crore with a GDP growth target of 7.2%. Revenue is projected at 12.4% of GDP and expenditure at 17.4% of GDP, resulting in a budget deficit of 5% of GDP.
- Private investment is expected to rise to 23.3% of GDP. Inflation is projected to decline to 5.8%. The annual development program amounts to Tk. 1,10,700 crore, higher than the previous year.
- Major expenditures include education, public services, interest payments, and transport. Revenue sources
Budget is an estimate of income and expenditure for a set period of time.
From the perspective of Bangladesh the most important issues that are going to impact middle and poor class people need to be discussed
Enhancing Accountability in Public Finance through Performance in Bangladeshicgfmconference
The document discusses enhancing accountability in public finance in Bangladesh through linking performance to accountability. It outlines Bangladesh's progress in public financial management reforms over 15 years, including establishing a macroeconomic framework and institutional support for planning and budgeting. While Bangladesh has made progress, public opinion polls are not yet a reality due to limited public awareness of financial processes and nascent performance budgeting systems. Intermediate steps are being taken to evolve performance orientation and accountability, such as pre-budget consultations and training programs to strengthen performance monitoring.
The Pakistani economy achieved 4.2% growth in 2014-15, the highest since 2008-09, despite floods, protests, and declining commodity prices. Per capita income was $1,512 and unemployment was 6%. Inflation remained under 10% due to effective monetary policy. The services and industrial sectors grew 4.95% and 3.62% respectively. The trade deficit was $17 billion with exports of $26.9 billion and imports of $44 billion. The budget deficit was 5% and tax revenues were expected to increase to 11.5% of GDP. China and Pakistan signed $45 billion in agreements and China-Pakistan Economic Corridor agreements were deemed "credit positive" by ratings agencies.
The document analyzes Bangladesh's national budget for fiscal year 2015-16. It notes both advantages, such as low inflation and stable exchange rates, and challenges for the economy, including sluggish private investment and poor revenue generation. The budget aims for 7% GDP growth. It projects increases in both revenue and expenditure as a percentage of GDP, with the budget deficit remaining at 5% of GDP. However, the analysis questions whether the fiscal framework is credible and sustainable given past budget overruns.
The document provides an overview of the key features of the Indian Union Budget for 2015-2016. It discusses the state of the Indian economy, challenges, and the government's plans and targets in areas such as fiscal policy, agriculture, infrastructure, financial markets, taxation, and social programs. The budget aims to achieve high economic growth of 8-8.5%, implement important reforms like GST and financial inclusion programs, boost investment in infrastructure, and address issues in sectors like agriculture, education and healthcare.
Bangladesh on
Development Highway:
The Time is Ours
Budget Speech 2017-18
Abul Maal Abdul Muhith
Minister
Ministry of Finance
Government of the People’s Republic of Bangladesh
18 Jaisthya 1424
1 June 2017
Budget Speech, 2017-18 ,Bangladesh
The document summarizes key aspects of the 2019-20 Indian Union Budget as it relates to education. It notes that the estimated education budget for 2019-20 is Rs. 93,843 crore, up from Rs. 85,010 crore in 2018-19. It also outlines innovations like integrated B.Ed. programs and the "Revitalizing Infrastructure and Systems in Education" initiative. The budget allocates Rs. 3,27,879 crore for Centrally Sponsored Schemes and Rs. 38,572 crore for the National Education Mission, up from Rs. 32,334 crore the previous year. It also includes 10% reservation for economically weaker sections in education and jobs.
The document summarizes key aspects of Bangladesh's fiscal year 2016-17 budget, including:
- Total budget of Tk 3,40,605 crore, a 29% increase over the previous year.
- Major allocations include Tk 50,017 crore for education, Tk 39,951 crore for interest payments, and Tk 35,920 crore for transportation and communication.
- Tax revenue from the NBR contributes 60% of the budget, while non-tax revenue, foreign loans, and domestic financing make up the remaining sources of funds.
- Key expenditures include Tk 34,370 crore for education and technology and Tk 18,383 crore for defense services.
Major economic indicators of Banladesh in mid 2015Zahidul Islam
- Average general inflation in Bangladesh decreased to 6.41% in June 2015, while export receipts increased by 3.35% to USD 31.20 billion and import payments increased by 12.21% to USD 41.35 billion in FY15 compared to FY14.
- Remittances increased by 7.65% to USD 15.32 billion in FY15, and foreign exchange reserves increased to USD 25.02 billion in June 2015 compared to USD 23.71 billion in May 2015.
- Tax revenue collection during the first eleven months of FY15 was 14.20% higher at Tk. 118042.32 crore compared to the same period of the previous fiscal year.
The analysis of the budget for Education sector in BangladeshRabiul Alam Hamon
The document analyzes Bangladesh's education sector budget. It finds that while Bangladesh has made progress toward education goals like universal primary education, challenges remain like low quality and absenteeism. The education budget as a percentage of GDP and the total budget is declining and projected to decline further. It recommends significantly increasing the budget allocation for education to improve teaching quality, fund non-formal education, invest in technical and vocational education, and emphasize efficient resource utilization.
The budget document summarizes the Pakistan national budget for 2017-2018. It outlines key figures such as the total budget amount of Rs. 4.75 trillion and development expenditures of Rs. 1,340.1 billion. Major allocations include Rs. 1,001 billion for the Federal PSDP, with largest allocations to infrastructure, transport, and energy sectors. The budget aims to achieve economic growth targets including 6% GDP growth and reducing the fiscal deficit and poverty rate.
The document provides an overview of the key highlights from the Indian Union Budget for 2015, including:
- GDP growth is projected to be between 8-8.5% for the fiscal year with a fiscal deficit target of 4.1% of GDP.
- Inflation rates have declined with WPI inflation at 0.11% in December 2014 and CPI inflation at 5%.
- Major tax reforms announced include the planned rollout of GST from April 2016, abolition of wealth tax, and an increase in service tax rate to 14%.
- Infrastructure investment was emphasized through tax-free infrastructure bonds and a national investment infrastructure fund.
Imbalance between development and non development expenditureFehmeeda Zeenat
The document discusses the imbalance between development and non-development expenditures in Pakistan. It notes that a large portion of Pakistan's expenditures go toward non-development items like defense, debt payments, subsidies, and administration. This leaves little room for development spending on infrastructure and social services. Reducing non-development costs and prioritizing development expenditures could help Pakistan address issues like poverty, unemployment, and economic growth. However, cutting defense spending is challenging given Pakistan's security situation. Overall, striking the right balance between non-development and development budgets is important for Pakistan's fiscal stability and socioeconomic progress.
The Economic Survey 2014-15 highlights India's strong growth prospects, forecasting double digit GDP growth for the current fiscal year. It credits reforms like deregulating diesel prices, increasing FDI caps, and overhauling subsidies as helping propel the economy past recent slowdowns. The Survey calls for continued expenditure control and switching to reduce deficits and ensure sustainable growth over the medium term. It also advocates targeted delivery of subsidies using Aadhaar, Jan Dhan, and mobile numbers to more efficiently reach the poor.
The document summarizes Pakistan's 2013-2014 economic survey and 2014-2015 budget. The economic survey outlines key economic indicators and sectors such as agriculture, manufacturing, education, health, transportation and energy. It notes declines in the economy due to corruption, terrorism and war in Afghanistan. The budget summary highlights the total outlay, resource availability, revenue, expenditures and development spending. It also discusses reactions against the budget, including protests and criticism from opposition leaders.
This document summarizes Afghanistan's national budgeting process. It explains that Afghanistan's budget system is still developing given the country's history of instability. The Ministry of Finance prepares an annual budget that is approved by the National Assembly. For the 2014-15 fiscal year:
- The total budget was estimated at Afs 436.17 billion (US$7.65 billion), accounting for 32% of GDP.
- The operating budget was Afs 283.48 billion (US$4.97 billion), or 65% of the total budget. Most was allocated to salaries.
- The development budget was Afs 152.69 billion (US$2.68 billion), or 35% of the total budget.
The document discusses various accounting concepts related to adjusting accounts and preparing financial statements. It includes questions about the differences between cash basis and accrual basis accounting, examples of accounts that require adjustment such as prepaid expenses, depreciation, accrued revenues and expenses, and unearned revenues. It also provides examples of adjusting journal entries companies would make.
This course focuses on ways in which accounting principles are used in business operations.
Students learn to identify and use Generally Accepted Accounting Principles (GAAP), ledgers and journals, and steps of the accounting cycle.
This course introduces bank reconciliation methods, balance sheets, assets, and liabilities.
Students also learn about financial statements, including assets, liabilities, and equity. Business ethics are also discussed.
Includes 10 hours of 1-on-1 live, on demand instructional support from SMARTHINKING.
The budget for 2015-16 outlines 16 interventions that will benefit various groups. It includes a 7.5% increase in pay and pensions for government employees, a minimum wage of Rs.13,000 per month for workers across Pakistan, and 50,000 internships for unemployed students. It also allocates Rs.102 billion for the Benazir Income Support Program to support poor families, Rs.4 billion for Pakistan Bait-ul-Mal to help the poor and unemployed graduates, and Rs.71.5 billion for education initiatives. Defense expenditure is budgeted at Rs.781 billion to support the armed forces of Pakistan.
The document discusses key aspects of census planning and budgeting, including establishing a work plan, developing detailed activity schedules, assessing resource needs, and managing risks. Effective census planning requires breaking the project into detailed components, estimating activity durations based on past experience, and accounting for all costs to develop a comprehensive financial outline and budget for the census.
This document introduces Near Field Communication (NFC) technology. It discusses the origin and establishment of NFC standards in 2004. It describes how NFC works using magnetic field induction to enable short-range wireless communication between devices. It also outlines some common uses of NFC like downloading content, sharing contacts, or making payments. The document explains that NFC tags are passive devices that can store and share data with active NFC readers, and provides details on implementing NFC reading and writing on Android.
The document outlines the Punjab government's road map for education reform. It aims to achieve 100% enrollment and retention of students up to 16 years of age, and provide free, compulsory, and internationally competitive education for all. Key aspects of the reform include regularizing contract teachers, revising pay scales, providing upward mobility opportunities for teachers, upgrading school infrastructure, expanding access to computers, textbooks, and scholarships, and improving governance and accountability through merit-based hiring and regular performance reviews. The chief minister will oversee implementation and ensure progress is reviewed regularly.
The document summarizes the Punjab Employees Efficiency, Discipline and Accountability Act of 2006. It outlines the various versions of disciplinary rules that preceded the 2006 Act. It then details the key aspects of the 2006 Act, including grounds for proceedings, applicable penalties, procedures for initiating regular inquiries or using a show cause notice method, powers of inquiry officers, duties of departmental representatives, and timelines for completing proceedings. It also identifies the competent authorities for imposing penalties based on the employee's pay scale and describes a model draft order for appointing an inquiry officer or committee.
Rs.14000 per month pay for workers, 8% sales tax on sugar and 31% corporate tax are laudable interventions in budget. Prices of laptops and computers will decrease in Pakistan.
The document summarizes the 7th National Finance Commission (NFC) Award in Pakistan. It discusses the constitutional basis for NFC Awards, the composition of the NFC commission, and the chronology of past NFC Awards. It outlines the salient features of the 7th NFC Award, including the criteria for distributing funds among provinces, and compares the allocations to provinces in the 6th and 7th Awards. It also discusses challenges in implementing NFC Awards and provides recommendations to address them.
Pakistan Education System & RecommendationS.M.Ali Raza
Analysis Federal & Provincial Education budgets & their targets & Recommendation
It was my 2nd project as a student of BSc(hons)
Prepared by me: S.M.Ali Raza Naqvi
The document discusses the 7th National Finance Commission Award (NFCA) in Pakistan, which will conclude its five-year term in 2015. It analyzes the achievements and shortcomings of the 7th NFCA and its impact on development policy and goals. Key points include: the 7th NFCA introduced multiple indicators for distributing funds between provinces rather than just population; however, increased funds did not proportionally increase development expenditures and social sector outcomes remained largely unchanged. Moving forward, the 8th NFCA process needs to strengthen provincial finance commissions and encourage the use of multiple indicators, including poverty measures, while also integrating other regions like AJK, GB, and FATA.
Highlights of Changes in Direct & Indirect Taxes in 2016-2017 budget
Direct Tax include Income tax,CHANGES IN INDIRECT TAXES - (CUSTOMS ACT, 1962 ,CENTRAL EXCISE ACT, 1944 ,AMENDMENTS IN SERVICE TAX )
This document provides an overview of fiscal policy, including:
1) Fiscal policy involves a government adjusting its spending levels and tax rates to influence the economy. It is controlled by the government and includes tools like taxes, government spending, and deficit financing.
2) There are two main types of fiscal policy - expansionary and contractionary. Expansionary policy involves government spending exceeding tax revenue through methods like lowering taxes or raising spending. Contractionary policy occurs when spending is lower than tax revenue.
3) Fiscal policy aims to impact unemployment, inflation, and interest rates. However, it faces criticisms like time lags in taking effect, potential crowding out of private sector activity, and inefficient government
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Impact of Different Education system in Pakistanbc080200109
This document discusses the importance of education in Pakistan and compares different education systems in the country. It outlines the structures of the madrassah system, public/private school system, and their differences in teaching methods, curriculum, facilities and more. It also reviews literature highlighting Pakistan's low literacy and education rankings, the impact of education on its economy and society, and comparisons of private and public sector performance.
The key highlights of the budget document are:
a) The total budget for FY 2014-15 is estimated at Rs. 4,302 billion, with current expenditure estimated at Rs. 3,463 billion and development expenditure at Rs. 839 billion.
b) Total resources available for FY 2014-15 are estimated at Rs. 4,074 billion, higher than the original budget estimates of Rs. 3,011 billion for FY 2013-14.
c) Net capital receipts are estimated at Rs. 691 billion for FY 2014-15, a 40% increase over the original budget estimates of Rs. 493 billion for FY 2013-14.
d) The provincial share of the
The Pakistan budget for 2014-15 totals Rs 4,302 billion, a 7.9% increase over 2013-14. Revenue receipts are estimated to increase 16% to Rs 2,225 billion. The provincial share of revenues is estimated at Rs 1,720 billion, up 14.5%. The Public Sector Development Programme budget is Rs 1,175 billion, with Rs 650 billion for provinces and Rs 525 billion for federal projects. Total subsidies are estimated at Rs 203 billion, focused on WAPDA, PEPCO and KESC. Grants and transfers are estimated at Rs 371 billion.
The document summarizes key details from the Union Budget for 2016-17 presented by the Finance Minister in India. Some highlights include:
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- Exports and imports declined in 2015-16 due to global factors, though the current account deficit fell as well due to remittances and capital inflows.
The document provides a summary of Pakistan's Federal Budget for 2016-17. Some key points:
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The document summarizes key points from India's budget for 2014-15. It reports that GDP growth for 2013-14 is estimated at 4.9% with fiscal deficit below target at 4.6% of GDP. The fiscal deficit is projected to decline further to 4.1% in 2014-15. The current account deficit for 2013-14 is estimated at $45 billion, down from $88 billion the previous year. Several measures are outlined including planned expenditures, subsidies, tax changes, and capital infusions to support continued economic stability and growth.
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The interim budget speech summarizes India's economic performance and initiatives over the past year. Key points include:
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- Major economic reforms were implemented including railway fare rationalization, sugar decontrol, and company/pension law updates.
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Budget Basics and overview in a simplified manner. Provides useful insights on the topic of budget and ways to evaluate it.
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The document summarizes key aspects of the Indian government's 2014-15 budget. It notes that while the budget retained the fiscal deficit target of 4.1% of GDP, contrary to expectations, achieving this target will be challenging given assumptions of 20% growth in tax revenues which appears optimistic. The budget focuses on fiscal consolidation and boosting investment but actual economic growth pickup is expected to be gradual. Measures like tax incentives for manufacturing and infrastructure are positive but success will depend on reforms and investment revival pace.
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This 3 sentence summary provides the high level information from the document:
The document discusses India's Budget for 2016-17, noting that it maintains the government's commitment to fiscal consolidation while implementing important reforms like reducing corporate tax rates. It also initiates reforms to improve public expenditure management and transition to a medium-term fiscal framework. However, the budget continues practices like increasing cesses and maintaining a high number of tax exemptions that impact revenue collection.
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It gives me a pleasure to present the summary and analysis of Union Budget 2016.
While you may have the snapshot, here is a document which will not only give you crisp highlights, but would also decode the impact of Budget 2016 on You, Your company and Your sector.
Hope you find this analysis useful in taking business decisions and align your company's strategy with over all economic climate for the upcoming financial year.
Would love to hear your feedback on the usefulness of the same.
Thanks a lot.
The budget aims to transform, energize and clean India. It focuses on supporting farmers, rural development, jobs, housing, and healthcare. While some measures support sectors like exports, manufacturing, and tourism, others felt neglected. The budget emphasizes fiscal discipline and restricts the fiscal deficit. Direct taxes see some changes but indirect taxes will largely be subsumed under GST to be implemented in 2017-18.
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Comparison of budget 2014-15 and 2015-16 (pakistan)
1. Budget
Comparison
FAIZ AHMED SHAH (04)
Budget comparison of 2014-15 and 2015-16
Ranger Campus – Islamia University, Bahawaplur
BBA R1 Madam Maria
2. Table of Contents
Faizluckyshah@gmail.com
Contents
Introduction _________________________________________________________________ 1
Budget 2014-15 at a glance ____________________________________________________ 2
Budget 2015-16 at a glance ____________________________________________________ 3
Salient Features (Budget 2014-15)_______________________________________________ 4
Salient Features (Budget 2015-16)_______________________________________________ 5
Comparison of Budget 2015-16 with 2014-15 ______________________________________ 6
Increase in the Prices (Food Items) ______________________________________________ 7
Criticism on Pakistan Budget 2015-16 ____________________________________________ 8
Challenges _________________________________________________________________ 9
Solutions __________________________________________________________________ 10
Conclusion_________________________________________________________________ 11
3. Pg. 01 Introduction
Faizluckyshah@gmail.com
Introduction
Government budget
A Government Budget is a Government document presenting
the Government's proposed revenues and spending for a financial year that is
often passed by the legislature, approved by the chief executive or president
and presented by the Finance Minister to the nation.
Federal Budget 2014-15
The Federal budget 2014–15 was the federal budget of Pakistan for the fiscal
year beginning from 1 July 2014 and ending on 30 June 2015.
Presented and submitted by Finance Minister Ishaq Dar on 30 June 2014 at
the National Assembly, it was originally outlay ₨. 3.8 trillion Eventually it was
increased to ₨. 4.3 trillion After several recommendations were inserted on 21
June 2014. This is the second federal budget submitted during the tenure
of Prime Minister and his cabinet.
Federal budget 2015–16
Presented and submitted by Finance Minister Ishaq Dar on 5th June, 2015 at
the National Assembly. This is the second federal budget submitted during the
tenure of Prime Minister and his cabinet.
4. Pg. 02 Budget 2014-15 at a glance
Faizluckyshah@gmail.com
Budget 2014-15 at a glance
Economic Survey 2014-15
Economy has done better than last year.
Inflation has remained all time low in any year in this decade. Foreign
exchange reserves improved substantially on account of increased
home remittances, issue of Sukuk, and decrease in import bill for oil,
privatization proceeds and receipt of the tranche from the donors. These
factors, inter alia, encouraged State Bank of Pakistan to bring discount
rate at all-time low of 7%, in the last 42 years.
On the other hand, manufacturing and agriculture sectors being principal
employment generating sectors have not shown desired improvements.
Exports have fallen even in value terms. Current years expected goals
in the private sector remained sluggish.
Foreign direct investment is expected in following years in infrastructure
sector by way of China-Pakistan economic Corridor (CPEC).
5. Pg. 03 Budget 2015-16 at a glance
Faizluckyshah@gmail.com
Budget 2015-16 at a glance
6. Pg. 04 Salient Features (Budget 2014-15)
Faizluckyshah@gmail.com
Salient Features (Budget 2014-15)
The budget 2014-15 has the following salient features:
The total outlay of budget 2014-15 is Rs 4,302 billion.
The resource availability during 2014-15 has been estimated at Rs 4,074 billion
The net revenue receipts for 2014-15 have been estimated at Rs 2,225 billion
The provincial share in federal revenue receipts is estimated at Rs 1,720 billion
during 2014-15
The net capital receipts for 2014-15 have been estimated at Rs 691 billion
The external receipts in 2014-15 are estimated at Rs 869 billion.
The overall expenditure during 2014-15 has been estimated at Rs 4,302 billion,
out of which the current expenditure is Rs 3,463 billion and development
expenditure is Rs 839 billion.
The share of current expenditure in total budgetary outlay for 2014-15 is 80.5%
The expenditure on General Public Services is estimated at Rs 2,543 billion
which is 73.4% of the current expenditure.
The size of Public Sector Development Program (PSDP) for 2014-15 is Rs
1,175 billion. Out of this, Rs 650 billion has been allocated to provinces.
Federal PSDP has been estimated at Rs 525 billion, out of which Rs 296 billion
to Federal Ministries / Divisions, Rs 176 billion to Corporations, Rs 12.5 billion
to Pak Millennium Development Goals and Community Development Program,
Rs 36 billion to Federal Development Program / Projects for Provinces and
Special Areas, and Rs 5 billion to Earthquake Reconstruction and
Rehabilitation Authority (ERRA).
The other development expenditure outside PSDP for 2014-15 has been
estimated at Rs 162 billion.
To meet expenditure, bank borrowing has been estimated for 2014-15 at Rs 228
billion
7. Pg. 05 Salient Features (Budget 2015-16)
Faizluckyshah@gmail.com
Salient Features (Budget 2015-16)
The budget 2015-16 has the following salient features:
The total outlay of budget 2015-16 is Rs 4,451.3 billion.
The resource availability during 2015-16 has been estimated at Rs
4,168.3 billion
The net revenue receipts for 2015-16 have been estimated at Rs
2,463.4 billion
The provincial share in federal taxes is estimated at Rs 1,849.4 billion
during 2015-16
The net capital receipts for 2015-16 have been estimated at Rs 606.3
billion
The external receipts in 2015-16 are estimated at Rs 751.5 billion.
The overall expenditure during 2015-16 has been estimated at Rs
4,451.3 billion, out of which the current expenditure is Rs 3,482.2 billion
and development expenditure is Rs 969 billion.
The share of current and development expenditure respectively in total
budgetary outlay for 2015-16 is 78.2% and 21.8%
The expenditure on General Public Services is estimated at Rs 2,446.6
billion which is 70.3% of the current expenditure.
The other development expenditure outside PSDP for 2015-16 has been
estimated at Rs 164.4 billion.
The size of Public Sector Development Program (PSDP) for 2015-16 is
Rs 1,513.7 billion. Out of this, Rs 813.7 billion has been allocated to
provinces. Federal PSDP has been estimated at Rs 700 billion, out of
which Rs 252.6 billion to Federal Ministries / Divisions, Rs 271.9 billion
to Corporations, Rs 20 billion to Pak Millennium Development Goals and
Community Development Program (MDGs), Rs 28.5 billion to Special
Federal Development Program, Rs 7 billion to Earthquake
Reconstruction and Rehabilitation Authority (ERRA), Rs 100 billion for
Special Development Program for Temporarily Displaced Persons
(TDPs) and Security Enhancement and Rs 20 billion for Prime Minister's
Youth Program.
To meet expenditure, bank borrowing has been estimated for 2015-16 at
Rs 282.9 billion
8. Pg. 06 Comparison of Budget 2015-16 with 2014-15
Faizluckyshah@gmail.com
Comparison of Budget 2015-16 with 2014-15
The budget 2014-15 and 2015-16 has the following salient features:
The total outlay of budget 2015-16 is 149.3 billion more than budget
2014-15
The estimated resource availability during 2015-16 is 94.3 billion more
than budget 2014-15
The net revenue receipts (estimated) for 2015-16 are 238.4 billion more
than budget 2014-15
The provincial share (estimated) in federal revenue receipts 129.4 billion
more than budget 2014-15
The net capital receipts (estimated) for 2015-16 are 84.7 billion less
than budget 2014-15
The external receipts (estimated) in 2015-16 are 117.5 billion less than
budget 2014-15
The overall expenditure (estimated) during 2015-16 are 149.3 billion
more than budget 2014-15 out of which the current expenditure is 19.2
billion more than budget 2014-15 and development expenditure is 130
billion more than budget 2014-15
The share of current expenditure in total budgetary outlay 2.3% less
than budget 2014-15
The expenditure on General Public Services (estimated) is 96.4 billion
less than budget 2014-15 which is 3.1% less than budget 2014-15 of the
current expenditure
The size of Public Sector Development Program (PSDP) 338.7 billion
more than budget 2014-15 Out of this, 163.7 billion more than budget
2014-15 has been allocated to provinces
The other development expenditure outside PSDP for 2015-16
(estimated) 2.4 billion more than budget 2014-15
To meet expenditure, bank borrowing (estimated) for 2015-16 are 54.9
billion more than budget 2014-15.
9. Pg. 07 Increase in the Prices (Food Items)
Faizluckyshah@gmail.com
Increase in the Prices (Food Items)
According to Ishaq Dar (Federal Minister for Finance)
The food items which registered increase in their prices are Moong Pulse
5.49%, Masoor Pulse 3.37%, Garlic 3.22%, Eggs 2.81%, Gram Pulse 1.27%,
Wheat 1.06%, Mash Pulse 0.84%, Sugar 0.28%, Chicken Farm 0.28%,
Bananas 0.11% and Wheat Flour 0.08%. The items which recorded decrease
in their prices are L.P.G 3.52%, Potatoes 2.33%, Gur 2.05%, Tomatoes 1.97%,
Onions 1.90%, Rice Irri-6 1.08%, Red Chili Powder 0.56%, Petrol 0.13%, Hi
Speed Diesel (HSD) 0.12%, Vegetable Ghee (Loose) 0.08% and Rice Basmati
Broken 0.07% while prices of Bread Plain, Beef, Mutton, Milk Fresh, Powdered
Milk Nido, Mustard Oil, Cooking Oil (Tin), Vegetable Ghee ( Tin) and Tea
(Lipton Yellow Label) remained stable.
According to T.V channels
Item Price (2014) Price (2015) Change
Moong Pulse 180 190 10
Masoor Pulse 127 143 16
Gram Pulse 60 90 30
Mash Pulse 138 170 32
Sugar 50 60 10
Wheat Flour 35 40 5
Milk 74 85 11
Potato 15 20 5
Onion 20 45 25
Tomato 60 80 20
Rice 170 175 5
Ghee 145 160 15
10. Pg. 08 Criticism on Pakistan Budget 2015-16
Faizluckyshah@gmail.com
Criticism on Pakistan Budget 2015-16
According to the critics and opposition parties this budget is only the game
of numbers and nothing. It was a repeated budget as usual.
• The growth rate of 5.5 % has been promised by the finance minister of
Pakistan for the fiscal year 2015-16. But what the people are not told is
how achievable actually is this target, keeping in view that the target set
in the previous year was also not achieved. The targets set in the
previous budget have mostly failed to meet the mark. It is surprising that
even higher targets are being set in this budget. How are they supposed
to be achieved is the question no one seems to be bothered with.
• The people are soon going to be hit with high electricity prices along with
long power outages as the subsidy on electricity is going to be withdrawn
as well.
• Every year the Defense budget gets a boost and this year it constitutes
16.2 % of the total budget.
• The minister very firmly said that the tax revenues will be achieved by
better collection of taxes and tight expenditure control but if we look, main
highlights of budget are observed and there seems to be no plan of
improving the system. All that can be seen is increasing the taxes and
putting more burdens on people.
• The mobile phones are going to be expensive as sales tax on them has
increased.
• The priorities of government should be clear in front of people. The reality
of unjust and unwise allocation of funds is often wrapped and hidden in
sentimental and sweet talk. If figures are kept in mind it seems that
railway and even the metro project is more important to this nation than
education as the budget allocation of railway triumphs that of education.
• Pakistan is an agricultural country and its agricultural sector also gets
ignored despite the fact that it employs 37 % of the labor
11. Pg. 09 Challenges
Faizluckyshah@gmail.com
Challenges
1. Poor governance and corruption
Key factors that affected all sectors of the economy are poor governance
and corruption in the country
2. Economic Policies
Economic Policies of the government were total failure! Government has
shown lack of interest in resolving economic issues of the country.
3. We Consume More and Save Less.
Out of every hundred rupees of our national income, we consume 85 rupees
and save only 15 rupees, which means that the amount of money which is
available to invest for economic growth and advancement is too little.
Because to grow by 6%, you need at least 24-25% investment rate - and if
you want to rely on domestic savings, your saving rate should be 25%. We
have to at least double on savings rate otherwise we will remain dependent
on foreign sources.
4. We Import More and Export Less.
As a nation we prefer to use even the basic commodities of foreign countries
rather than locally manufactured goods. Unless we do not change this
attitude of preferring the imported goods we have to keep on relying on
outsiders to fill in this gap b/w our imports and exports. To lower this gap
between our export earnings and expenditure on imports we should
increase expending on our exports; our reliance on external sources should
be reduced.
5. We Face Energy and Water Shortages
6. Cost of Doing Business is high.
12. Pg. 10 Solutions
Faizluckyshah@gmail.com
Solutions
1. Change our mindset
We as a nation are too much negative oriented and too much cynical where we find
everything wrong in this country. Unless we change our mindset and unless
everybody who is doing what he is supposed to do, carries out his or her task with
sincerity and honesty, we are not going to go anywhere. We should not expect any
Messiah to come and fix our problems we have to do it ourselves individually and
collectively. There are no short cuts available
2. Young labor force
Pakistan is one of the few countries which has a young labor force which can be
harnessed for its own and global economy. India and Pakistan are two countries
where the ratio of younger people to the older ones is going to increase. If we tool
these young men and women properly, we increase the female labor force
participation, give them skills and knowledge, they can become the labor force for the
rest of the world. This will give a big boost to Pakistan’s own economy.
3. Local governments
As the population is increasing, one cannot govern Pakistan sitting in Islamabad,
Karachi, Lahore, Peshawar or Quetta. One has to devolve powers, decentralize and
delegate authority, provide resources to the local/district governments so that they can
take decisions at their own. Those decisions would be very much in accordance with
the requirements and the needs of those communities. Sitting in Islamabad one
cannot visualize what is needed in Chaghi or Loralai, but the people in Loralai and
Chaghi know exactly whether they need water, fertilizers or fruit processing industry.
Let us devolve powers to the people at the grassroots level and there would be much
better allocation and utilization of resources. There must, however, be accountability
of the local governments by the provincial governments and of provincial governments
by the federal government but not interference or usurpation of powers.
13. Pg. 11 Solutions
Faizluckyshah@gmail.com
Conclusion
Pakistan require extreme actions, inventive thinking and clear policies to get back on the
road of success, and present budget seems to fall short of that. This requires that the
government, which has got clear mandate, should stick firm to its own proposal, which
promised the people of Pakistan long lasting economic improvements. A budget is both a
reminder and a chance to put the money where the mouth is, but so far, the government
has shied away from following its own dream with veracity and vigour.