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Agriculture and Allied: Pakistan

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The Punjab government has set target of Agricultural Income Tax (AIT) for the financial year 2013-14 at Rs 2,018.938 million as compared to budget estimates of 2012-13, which was Rs 720.522 million. ''Government is fully aware of the revenue potential of AIT and after thoroughly debating has taken important decision of enforcing income mode tax during the next financial year besides amending the AIT Act to collect tax from those who declare agricultural income under their income tax returns to FBR,'' said the White Paper issued by the Punjab Government regarding budget 2013-14.

The Punjab government has allocated a collective sum of Rs 7.2 billion for agriculture and livestock sectors in its Annual Development Programme (ADP) 2013-14. For agriculture, the provincial government has allocated a sum of Rs 5.5 billion while for livestock Rs 1.7 billion has been allocated. The break-up shows that Rs 5.084 billion have been allocated for ongoing schemes of the agriculture sector while Rs 416 million for new schemes. Rs 739 million have been earmarked for new schemes in livestock sector and Rs 261 million for ongoing schemes.
Punjab government has allocated 23500 millions rupees for the development of Irrigation sector, Rs 6390 millions for Transport sector, Rs 115 millions for the Labour and Human Resources Development for the fiscal year of 2013-14.
Punjab Chief Minister Muhammad Shahbaz Sharif has said that energy crisis caused irreparable loss to national economy and left a negative impact on industrial and agriculture sectors while trade and economic activities also suffered. He said business and economic activities can be promoted by controlling the problem of shortage of electricity.
The mighty Indus River is in low flood at Kalabagh and Chashma barrages with a flow of 2,60,000 cusecs and 2,70,000 cusecs respectively, Flood Warning Centre said here on Sunday. It said the River Kabul is in medium flood with running water of 1,26,000 cusecs, all the other major rivers are flowing below low flood level.
Provincial Minister for Irrigation, Mian Yawar Zaman, has said that farmer-friendly changes will be brought in Irrigation Department in accordance with the vision of Punjab Chief Minister Shahbaz Sharif. He said that transparency in the irrigation projects and process of distribution of water will be ensured.
Met Office has advised the growers to take precautionary measures during the continuing pre-monsoon rainy spell to protect their standing crops, and livestock. The Met office forecasts an early start of monsoon rains in the country at a normal scale.

 



 
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyMay
Trade Balance $-2.171 bln
Exports $2.175 bln
Imports $4.346 bln
WeeklyJune 17, 2013
Reserves $11.446 bln