Home - Pakistan - Economic Survey Report to be released on June 4, Federal Budget 2015-16 on June 5

Economic Survey Report to be released on June 4, Federal Budget 2015-16 on June 5

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ISLAMABAD: Economic Survey Report of the current fiscal year will be released on June 4 while federal budget for the financial year 2015-16 will be tabled in the National Assembly on June 5, as per approval of Federal Minister for Finance Ishaq Dar.

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Presiding a meeting on the federal budget 2015-16 in Islamabad, Federal Minister of Finance, Senator Ishaq Dar has said that this budget will be in interest of common man. Top priority will be given to common man.


10% increase in salary of government employees


According to sources, government employees are expected to receive increment of ten percent in their basic salaries. However, sources also said that there would be little chances of increment in other allowances.

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Finance Minister approved the presentation of the budget 2015-16 in the National Assembly on June 5. Moreover, the Economic Survey Report of the running fiscal year will be released on June 4. The Finance Minister said that recommendations of Tax Reforms Commission will be the part of next budget. Many other initiatives such as: reduction in markup rates of Exports Re-finance Facility (ERF); reduction in markup rates of Long-Term Finance Facility; Sales Tax Refund; formation of telecenters; Reimbursement of Crop Loan Insurance Scheme (CLIS) Premium; formation of Exim Bank; LNG Import; Revival and Restructuring of Housing Building Finance Company Ltd.; and many others will be incorporated in the next budget.

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One comment

  1. I have always been thinking and wondering how a country like Pakistan can be poor

    or needy or underdeveloped?! A country possessing rich and generous supply of all

    kinds of resources: human resources (with a population now around 190 million),

    natural resources, fertile land, high snowy peaks, a few in other countries and vast

    deserts, the Indus river and its tributaries, moderate and bearable temperature all

    year along, minerals, and long sea shore, historical reserves, strategic location,

    intelligent, hardworking and beautiful people and nice location at the globe … what

    else? The list goes long. Given that fact, the undeserved demoted situation in which

    our country exists is very questionable.

    Leadership problems can derail any kind of organization, including a country, a large

    Organization. When the leadership is lacking vision of the future, careless

    behaviors, showy and selfish open the doors for endless forms of corruption. The

    result is a stolen economy, derailed law and order situation, lost and depressed

    people, lack of control on the future, and huge money and brain drain from the

    country.

    Due to our political blunders, lack of knowledge, vision and shortsightedness we

    were distracted again and again as so many times before, from our required goals.

    For the last many years we are engaged in fighting with our own people causing

    huge economic, social, moral and human loses. We are losing our position in the

    surrounding world. Due to our internal and external policies we are suffering badly

    also in economy. We can just compare our foreign currency reserves which are at 12

    billion dollars with India at 300 billion, Turkey at 125, Bangladesh at 14, Malaysia at

    140, Singapore at 260, Iran at 70 and even very small neighbor Sri Lanka at 8 billion

    dollars. We are lavishly spending on a long list of Imports. We must enhance our

    Engineering, Agricultural and SME sectors to correct this.

    It

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