Last update: Sat, 03 Dec 2016 05am

Budgets: 2009-10


The National Assembly on Thursday passed the Rs 2.9 trillion Federal Budget for 2009-10 followed by approval of the Finance Bill for the upcoming year incorporating 24 major customs duty, sales tax, income tax and federal excise duty (FED) related changes after thorough discussion in the House.
Text of the State Minister speech relating to amendment in Budget and Finance Bill:-
Following is the text of the Amended Finance Bill (2009-2010)
Income Tax - 1. Minimum tax restored: Section 113. Minimum tax was introduced for the first time by the Finance Act, 1991 and continued to be applicable with certain modifications over the years until it was a withdrawn by the Finance Act, 2008.
A BILL: to give effect to the financial proposals of the Federal Government for the year beginning on the first day of July, 2009, and to amend certain laws.
I rise to present the Budget for the Fiscal Year 2009-2010.
The federal budget for fiscal 2009-10 with a total outlay of Rs 2.48 trillion as against Rs 2.01 trillion in 2008-09 was presented by Minister of State on Finance and Economic Affairs Hina Rabbani Khar in the National Assembly. The budget, as stated, seeks to obtain the twin purposes of stabilisation of the economy with a human face and also achieve growth with equitability.