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Budgets: 2010-11

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Budget 2010-11:a difficult budget in difficult times

Sunday, 06 June 2010
ZAHEER ABBASI
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The government on Saturday announced a consolidated budget outlay of Rs 3.259 trillion for next fiscal year, with 4 percent budget deficit, and what the Federal Finance Minister was careful to refer to as deferring the reforms of GST, understood by the galleries as reluctant to use the three-letter word ''VAT'', till October 1, 2010 instead of July 1, 2010, but increased the GST from existing 16 to 17 percent.

Rs 442.1 billion earmarked for defence

Sunday, 06 June 2010
WASIM IQBAL
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The government has increased defence allocations in 2010-11 budget by Rs 99,260 million to Rs 442.1 billion as compared to the Rs 342.9 billion defence allocations of on-going fiscal year, mainly due to military operations against terrorists.

Rs 663 billion allocated for development

Sunday, 06 June 2010
ZAFAR BHUTTA
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The government has earmarked Rs 663 billion for development in the 2010-11 budget, which envisages Rs 280 billion federal and Rs 373 billion provincial share. According to budget documents, Rs 10 billion has been earmarked for Erra for financial year 2010-11.

Government set 4.5 percent growth target

Sunday, 06 June 2010
RECORDER REPORT
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The government has targeted 4.5 percent GDP growth rate for the financial year 2010-11, with the following sectoral contributions: agriculture 3.8 percent, manufacturing 5.6 percent, and services sector 4.7 percent. The production targets of wheat and rice have been set at 25 million tons and 6.2 million tons, respectively, for 2010-11.

Salient features

Sunday, 06 June 2010
RECORDER REPORT
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10 percent tax credit on BMR & Expansion between fiscal year 2010-2015

No privatisation in fiscal year 2011: Hafeez vows to restructure PSEs

Sunday, 06 June 2010
MUSHTAQ GHUMMAN
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Privatisation as an economic tool to lower the haemorrhaging of the Budget still needs a political consensus within the Pakistan People''s Party as nil inflow from privatisation process has been shown in the 2010-11 budget documents.

Duty on palm oil reduced to make ghee cheaper

Sunday, 06 June 2010
RECORDER REPORT
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In a bid to decrease the cost of vegetable ghee and oil, the government has reduced customs duty on crude palm oil by Rs 1000 per metric ton from Rs 9000/MT to Rs 8000/MT. The duty structure on the import of old and used cars, re-conditioned vehicles and other cars has not been changed.

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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%
MonthlyApril
Trade Balance $-1.779 bln
Exports $2.130 bln
Imports $3.909 bln
WeeklyMay 20, 2013
Reserves $11.601 bln