ISLAMABAD: Beaming proudly, Prime Minister Imran Khan Friday entered the National Assembly and said all would be happy with the budget 2021-2022.After chairing the federal cabinet meeting, Imran.
Finance Minister Shaukat Tarin presents Federal Budget 2021-22
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Federal budget 2021-22 worth Rs 8487 billion is being presented.
ISLAMABAD (Dunya News) – Finance Minister Shukat Tarin is presenting the federal budget worth Rs8487 billion for the fiscal year 2021-22.
As per the budget documents obtained by Dunya News, tax revenue target for Fiscal Year 2021-22 will be around Rs 5829 billion whereas non tax revenue target is expected to be around Rs 2080 billion. Total revenue target for FY22 would be around Rs 7909 billion.
According to National Finance Commission (NFC) distribution, provinces will get Rs 3412 billion in the budget. Fiscal deficit for FY22 is expected to be around Rs 3990 billion. Government expects to set debt and interest payment target of Rs 3060 billion for Fiscal Year 2021-22.
Since his appointment as finance minister, Shaukat Tarin has on multiple occasions expressed his views on what many refer to as implications of the 7th National Finance Commission (NFC) award for federal finances. Being one of the key architects of the award, which was followed by the passage of the landmark 18th amendment to the Constitution to devolve several federal functions to provinces, Mr Tarin has naturally taken a position on the issue that doesn’t match with the one held by many in the ruling PTI, or in the country’s security establishment.
Instead of blaming the award for the federal government’s growing fiscal troubles and public debt, he has pointed out the failure of the successive administrations since 2009 to increase the country’s tax-to-GDP ratio as envisaged in the award for growing the size of the financial pie. He was quoted in the recent weeks to have said the 7th award had assumed that tax-to-GDP ratio would be raised by one per cent every year from le
PESHAWAR: For all the hype around the mainstreaming of the merged areas, representatives from the region in Khyber Pakhtunkhwa Assembly feel alienated from the treasury and opposition, finding little support for highlighting issues affecting the people of erstwhile Fata.
This sense of frustration was palpable during the recent in-house protests of political leaders from the tribal districts against what they called reneging of the government on commitments made under the 25th Amendment under which Fata was integrated into Khyber Pakhtunkhwa.
These commitments included giving the tribal districts three per cent share in National Finance Commission (NFC) Award amounting to Rs100 billion per annum for development works, minerals’ royalty besides administrative and judicial reforms. This was aimed at socio-economic uplift of the area at par with the rest of the province and country.
Daily Times
The Sindh government has allowed traders to keep shops open till 8pm, announced Sindh Chief Minister on Sunday.
The decision was taken after meeting of provincial coronavirus task force. After talks with the Sindh government, Karachi’s Tajir Action Committee on Saturday said it had agreed to delay their decision till Monday of keeping shops open till 8pm. Minister for Information Nasir Hussain Shah said that the Sindh government did not enjoy taking such decisions. Curbs are placed for the protection of people, he said. He added that all decisions are always based on recommendations by the National Command and Operation Centre.