Economy back on track at any cost put amazing Vowing, Finance Minister Ishaq Dar back up a loan package for Pakistan this year's 'own terms' and the International Monetary Fund (IMF) would interact with No, that will bear the dictation.
"We should support the people of Pakistan to tax the wealthy class and may try to put the economy on track," post-budget press conference here on Thursday, the Dar said. He put government on a path to economic stability in the country to ensure strict financial discipline and transparency will.
. However, he compensated employees in the next budget will certainly assured.
Pakistan and IMF Dar in Islamabad from June 19 talks will post program monitoring. Loans taken by the previous government will be taken to pay debt, they dictated terms but will not be taken to guarantee that, he said, keeping in our own terms' national see interests.
By 30 percent - debt servicing, defense, salaries and other grants - Prime Minister Ishaq Dar austerity measures, and Prime Minister from 45 percent cost reduction as their office, Rs40 billion to save The idea was to cut all costs. The outgoing year's total is more than 23% of the revenue collection target of Rs2475 billion set. In addition to the national security agencies, federal ministries and independent departments discretionary grant is removed.
Finance Minister of the Government's tax instead Hajj pilgrims going for operators. Similarly, they say increased sales tax rates to defend "we take exceptional as the previous government said the tax, the sales tax for the first time has increased." He said that we have tried not to put a burden on the people. The reforms to enhance revenue collections will be suspended and theft FBR will be introduced.
Dar income tax rate of just over seven million in annual revenue that has been extended. The number of people is 3,114. The number of people living below poverty line over the past five years has doubled. To increase income tax revenue collected from poor people on welfare should be utilized. Therefore, 1,000 government Rs1, 200 has decided to increase income support.
Talking about economic development finance minister said the government next fiscal years 2013-2014 and 2015-2016 from 7 percent to 4.4 percent increase in GDP growth is planned. He said that investment in GDP during the next financial year will be 15 per cent, while inflation will be in the single digits. During the next three years it will be 20 per cent. Fiscal deficit by 2016 and four per cent next year will be reduced to 6.3.
Dar debt 63.3 percent of GDP during the next financial year, 61.5 per cent of GDP will be reduced. Debt to GDP adding that 55.2 percent of GDP in the medium term will be refused.
Finance Minister during the outgoing fiscal year was $ 14 billion recorded remittances of $ 15 billion during 2013-14 to achieve the target. The government remittances of $ 20 billion for June 2016 has set a target. Dar to promote corporatisation, the maximum corporate tax rate will be reduced by 1% per year.
Finance Minister of the Government to bring about $ 1,200 million 3G license will ensure a transparent auction. "We also have more than 5 years due to the $ 800 million payment from Etisalat will try to secure," he said. In addition to the all-out efforts addressing other issues of Balochistan to improve the economic situation will be made.
The prime minister of Youth Skills Development program, 25,000 young people age 25 to the east, with the minimum qualifications, a large number of trades will be trained. Similarly, Rs 100,000 will be borne by the government at a cost of 8 per cent mark-up of Rs 2,000,000, the loan will be made available through the banking system.
The program II, the construction program will be e-Watan said people in the workplace. Dar economy had been put right on the budget and the international community gave a positive signal. He said the budget was business friendly gesture, domestic stock market reaction was positive, he restored the confidence of the business community.
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