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LCCI terms Punjab Budget business-friendly LAHORE: The LCCI Acting President Mian Tariq Misbah here on Friday termed Punjab budget for the year 2014-15 as masses & business-friendly, pro-industry and relief oriented. Soon after the Punjab Budget 2014-15 speech, he said Punjab Chief Minister Muhammad Shahbaz Sharif deserved appreciation for presenting well-balanced budget that would certainly pave way for progress and prosperity in Punjab. Tariq Misbah said, Punjab Budget 2014-15 was unprecedented because no new tax had been imposed, while allocations for development projects, poverty alleviation, education and health would go a long way in giving required boost the province. He said that whole country in general and the industrial sector in particular was suffering heavily because of severe energy shortage in the country. Sufficient allocation for energy projects was a step in right direction and ample proof of Shahbaz Sharif's visionary approach and untiring efforts for resolving the energy crisis, he added. He also welcomed ...
CM Sindh vows to enhance provincial receipts to Rs200 billion KARACHI: The Sindh government has prepared a three-year "Reform Plan for Resource Mobilization" to enhance provincial receipts to Rs. 200 billion.The CM Sindh informed the Assembly while presenting annual budget 2014-15, that the plan would be implemented from July 1st, 2014 and for the purpose a Tax Reform Unit would be established in Finance Division.Improving tax administration, capacity building for efficient tax collection, plugging in tax leakages, broadening tax base and improving financial management would ...
Pb govt to spend Rs1.88bn on jails LAHORE: The Punjab government has allocated an amount of Rs. 1.88 billion for construction and renovation of jails in the budget 2014-15.In the budget documents presented in the Punjab Assembly here on Friday, an amount of Rs. 250 million has been earmarked for construction of district jail Layyah (Residential Portion) , Rs. 58 million for construction of family rooms at central Jail Rawalpindi, Rs. 170 million for construction of High Security Prison in Mianwali (Northern ...
Rs3,800mn set aside for livestock Dept LAHORE: The government of Punjab has allocated a sum of Rs.3800 million for the livestock department in the annual fiscal budget 2014-15.According to the break-up of statistics, the current budget is double than the last years allocations of Rs. 1444 million.In the budget, Rs. 240 million have been allocated for regular ongoing development schemes while the remaining amount would be used for new schemes and other developmental initiatives including Punjab Livestock and Dairy Development Board,Pnnjab ...
Tax revenue overestimated in the budget KARACHI: The Pakistan Economy Watch (PEW) on Friday said government income due to taxation has been miscalculated in the budget as Federal Board of Revenues (FBR) tax collection target of Rs. 2810 billion is unachievable.Government has failed to broaden the tax base leading it to increase burden on existing taxpayers and to widen the scope Withholding Tax (WHT) as well as indirect taxation, it said.The FBR has planned to meet the target through reliance on ...


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