Gladly not classified as nascent, it seems that the climate for public private partnerships in the country has not been amongst the worst in Asia, as pointed out by the recent study by ADB in collaboration with Economist Intelligence Unit.
The Finance Minister said in his budget speech yesterday that the entire Federal PSDP, for the outgoing fiscal, has been released and utilised. Not really, because as of yesterday, the Planning Commission is yet to release nearly a quarter of its mandated funds disbursal limit of Rs.228.4 billion. But the Ministers assertion reveals more: no cuts in development funds and speedy disbursals come in next fiscal year.
Reduction of customs duty on 88 pharmaceutical raw materials! What could have been better? A lot! The slashing of the customs duty on the sectors eighty eight raw materials sound good only as long as one does not know the actual number of imported raw materials that go in the production of medicines and drugs.
The Federal Budget 2012-13 as expected had room for Gas Infrastructure Development Cess for which a provision of Rs.30 billion was made in non-tax revenue. That largely went unnoticed from the ever vigilant media eyes, as it was discussed in greater detail in the Finance Bill and not in the budget document.
GDP = C+G+S+TB. The famous equation constitutes components of GDP and changing shares of its variables depict the story of our economic growth. The slight economic recovery in this year with estimated growth at 3.7 percent (target: 4.2 percent) against past five years average growth of 3.0 percent is attributed to the increase in the share of private consumption at the cost of falling savings.