Shaukat Tarin delivers budget speech amid Opposition’s ruckus; duties on local cars reduced; tax on printing materials cut; taxation system made easy; FBR reforms announced; motor bikes also become cheap; no decision yet regarding tax on phone calls
Commerce Reporter
ISLAMABAD, Finance Minister Shaukat Tarin presented the budget 2021-22. The finance minister was greeted by jeers from Opposition benches, with members shouting slogans and taunting the finance minister by laughing loudly as he praised PM Imran Khan’s economic initiatives. He announced that the total outlay of the budget had been kept at Rs 8,478 billion and had set the tax collection target at Rs5, 829 billion.
Speaking about the various allocations made by the government, Tarin said Rs 480bn had been allotted for pension’s payments of both civilians and retired military officers. He said the defense budget of the country had been allocated Rs1,370bn while the government had earmarked Rs1,168 for development and non-development grants for provinces.
He said the government had allocated Rs682bn for subsidies to various sectors of the economy, adding that Rs479bn had been allocated to run the civil government.
Tarin said the government was serious in stemming the spread of the coronavirus and keeping its adverse effects at bay, adding that the government had set aside Rs100bn for it. He said the federal PSDP had been allocated Rs964 billion.
Tarin lashed out at the previous governments, saying that a mountain of circular debt amounting to Rs1 trillion was inherited by the incumbent government due to the botched policies of its predecessor.
Rs 5 bln allocated for COVID-19 responsive
The government has allocated Rs 5 billion for COVID-19 responsive and other natural calamities control programme under the Public Sector Development Programme (PSDP) 2021-22.
The allocation was part of the total amount Rs 88.5 billion, earmarked for the special programmes in the PSDP-2021-22, said the document.
Other programmes include Sustainable Development Goals supplementary funds and Viability Gap Funding (VGF) for PPP (Public Private Partnership) projects.
Planning, Development Division to get Rs19.245 bln
The government has earmarked a hefty amount of Rs 19.245 billion for various new and ongoing schemes of the Planning, Development and Special Initiatives Division including Rs 10.2 billion for eight projects of Sindh Infrastructure Development Co. Lt (SIDCL) under the Public Sector Development Programme (PSDP) 2021-22.
During the current fiscal year, the government had allocated only Rs 3.545 billion for the development projects of planning division.
According to the budgetary document released here on Friday, the government has proposed allocation of Rs 5.605 billion for four new schemes, Rs 3.343 billion for 13 ongoing schemes while another Rs 10.297 billion for eight ongoing schemes under the SIDCL.
Rs1.9bn allocated for Information & Broadcasting Division
The government has allocated around Rs1.9 billion for some 15 ongoing and new schemes of Information and Broadcasting Division under the Public Sector Development Programme of Fiscal Year 2021-22.
An amount of Rs 1457.465 million was allocated for seven new schemes, while a sum of Rs 442.218 was earmarked for ensuring completion of eight ongoing schemes, said the PSDP 2021-22 document.
The ongoing schemes including 100KW (kilowatt) medium wave radio station at Gwadar, modernization of camera and procurement of production equipment of Pakistan Television (PTV) corporation, broadcast station at Barkhan, Rebroadcast Stations at Kharan and Ziarat Balochistan, and Kotli, Rehabilitation of medium wave services from Muzaffarabad and replacement of medium wave transmitter at Mirpur.
The new schemes included in PSDP 2021-22 were meant for setting up an auditorium and passenger lift at Radio Pakistan, Multan, Digital and social media simulation lab in Information Service Academy, Islamabad, Pakistan Information Centres (phase-I), besides carrying out feasibility study of Pakistan Media University, pilot project of DTMB-A (digitalization of terrestrial network), and reconstructing of news operations by replacing existing outdated equipment with modern cutting edge technology.
Rs 3,249.540 million allocated for 13 petroleum sector
The government on Friday allocated an amount of Rs 3,249.540 million in the Public Sector Development Programme (PSDP 2021-22) to execute seven ongoing and six new petroleum sector projects aimed at accelerating oil and gas exploration activities and achieving self-sufficiency in the energy sector.
According to the PSDP document, funds amounting to Rs 1,473.683 million have been earmarked for seven ongoing schemes, out of which Rs 263 million have been kept for establishment of National Minerals Data Centre (NMDC), Rs 345.321 for Expansion and Up-gradation of Pakistan Petroleum Core House (PETCORE), Rs 30 million for Geological Mapping on 50 Topo sheets, out of 354 unmapped Topo sheets of Outcrop Area of Balochistan Province, Rs 385.336 million for strengthening and up-gradation of Karachi Laboratories Complex (KLC) at HDIP Operations Office, Karachi, Rs 76.580 million for supply of 13.5 MMCFD gas at Doorstep (Zero Point) of Dhabeji Special Economic Zone (SEZ) Sindh, Rs 230 million for supply of 30 MMCFD gas at Doorstep (Zero Point) of Rashakai Special Economic Zone (SEZ) and Rs143.446 million for up-gradation of POL testing facilities of HDIP at Islamabad, Lahore, Multan, Peshawar, Quetta and ISO Certification of Petroleum Testing Laboratory at Islamabad.
Rs 61.5b allocated for 3P projects in PSDP 2021-22
The government has allocated an amount of Rs 61,500 million for Viability Gap Funding (VGF) of public private partnership (3P) projects under the Public Sector Development Programme (PSDP) 2021-22.
The allocation was part of the total amount Rs 88.5 billion, earmarked for the special programmes in the PSDP-2021-22, said the document, a copy of which is available with APP.
Other programmes including Sustainable Development Goals supplementary funds for which an amount of Rs 22 billion was earmarked in the PSDP 2021-22, whereas a sum of Rs 5 billion was allocated for COVID-19 responsive and other natural calamities control programmes.
Rs 12,017 million in PSDP 2021-22 for Agri sector
ISLAMABAD: The government has allocated an amount of Rs12, 017.280 million in its Public Sector Development Programme (PSDP) 2021-22 for uplift and development of agriculture and livestock sectors in the country.
The hefty sum was allocated for the completion of 27 ongoing and eight new schemes during upcoming fiscal year to promote and develop local agriculture sector on modern lines, besides making it more profitable to achieve the goal of sustainable economic development.
According to a budget document issued here on Friday, an amount of Rs 8,139.166 million would be spent on 27 ongoing developmental projects, whereas Rs 3,878.114 million to be spent on eight new projects during the financial year 2021-22 for agriculture sector development.
The government has allocated Rs 700 million for enhancing the commend area of small and mini dams across the country to bring more areas under crop production to achieve the targets of self-sufficiency in food products.
Under annual development agenda, government has allocated Rs 900 million for productivity enhancement of wheat, which is major cash crop of the country and main source of staple food, where as an amount of Rs 300 million was also earmarked for improvement of water courses to conserve water.
Rs 92,112 million allocated for ongoing hydel, new scheme in PSDP 2021-22
The government has allocated a total of Rs 92,112 million for various ongoing and new hydel projects under Annual Public Sector Development Programme (PSDP) 2021-22.
Out of total, a sum of Rs 91,912 million has been allocated for ongoing schemes while Rs 200 million for a new scheme.
An amount of Rs 56,514 million has been specified for Dasu Hydro Power Project stage-1, Rs 2,700 million for Golen Gol Hydro Power, Rs1, 960 million for Harpo Hydel Power Project, Rs1, 084 million for Keyal Khawar Hydro power and Rs3, 038 million for Mangla power station Refurbishment and up-gradation.
Similarly, a sum of Rs 14,160 million has been earmarked for Neelum Jhelum Hydro power (China, Kuwait, Saudi Arabia, IDB, OPEC), Rs 8,159 million for Tarbela 5th Extension Hydro Power Project, Rs 1,900 million for Tarbela 4th Extension Power Project and Rs 1,862 million for Warsak Hydro Power Station (2nd Rehabilitation).
Rs 24,211.511 million for housing sector
The government has allocated an amount of Rs 24,211.511 million for 115 ongoing and new schemes of Housing and Work Division for the fiscal year 2021-22 under the Public Sector Development Programme (PSDP).
The budgetary allocation included Rs 13,522.197 million for 55 ongoing projects and Rs 10,689.314 million for 60 new schemes, according to budgetary document issued here on Friday.
Rs 123.131b allocated for Finance Division
The Federal Government will spend around Rs 123,131.004 million on 69 projects of Finance Division under the Public Sector Development Programme (PSDP) during the financial year 2021-22.
According to the budget document, an amount of Rs 76,576.985 million has been allocated for 31 ongoing development projects and Rs 46,554.019 million for 38 new development schemes of the Finance Division.
Among the ongoing schemes, the government has allocated Rs 30,000 million for merged districts of Khyber Pakhtunkhwa 10 years development plan and Rs 24,000 million for merged district of Khyber Pakhtunkhwa.
Rs. 279.200 million for Ministry of Human Rights
The government on Friday has allocated Rs. 225.600 million for 10 ongoing and 3 new schemes of Ministry of Human Rights Division in Public Sector Development Programme (PSDP) 2021-22.According to the PSDP, Rs. 225.600 million has been earmarked for the ongoing schemes of the division while Rs. 279.200 million for the new schemes. Rs. 20.000 million has been allocated for the project of Human Rights Coordination and Monitoring Units for National Mechanism for Reporting and Fellow- Up.
Rs 1.745 bln for two projects of MoDP
The government on Friday has allocated around Rs 1.745 billion for the two on-going projects of the Defense Production Division. According to the Public Sector Development Programme 2021-22, around Rs 245 million was allocated for the establishment of Project Management Cell for creation of Shipyard at Gwadar where Rs 773.256 million was the total estimated cost of the new scheme and around Rs 100 million would be spent till June 30, 2021.The maximum amount of Rs 1.5 billion was allocated for Infrastructure Upgradation of Karachi Shipyard and Engineering Works (KSEW), whereas the total estimated cost of the initiative was over Rs 7.698 billion and over Rs 2.576 billion were to be spent till June 30, 2021.
