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budget 2018-19

Rs 27 billion KMC budget to be unveiled today

KARACHI: Mayor Karachi Waseem Akhtar will unveil the Rs 27.17 billion tax-free budget of Karachi Metropolitan Corporation (KMC) today. The KMC has pitched total expenditure at Rs 27.16 billion while Rs 11.5 billion has been earmarked for development schemes. Arynews.tv has obtained the budget documents. Of the budget’s summary of revenue for the next fiscal year, the KMC is expecting Rs 6 billion from the provincial Annual Development Program, followed by Rs 1.1 billion from finance and accounts, Rs 650 million…

Gilgit-Baltistan govt unveils Rs63bn budget

GILGIT: On Thursday the Gilgit-Baltistan government amid opposition protest unveiled over Rs 63 billion budget in regional assembly for the fiscal year 2018-19. The major portion of the budget is allocated for the non-developmental expenses. This budget was presented by the finance Minister Akbar Taban in the assembly session chaired by Deputy Speaker Jaffarullah Khan. It is noted here that Rs 28.026 billions have been allocated for non-developmental expenses in the budget. In budget papers Rs 18 billion have been…

Sindh CM presents Rs1144.2billion budget for fiscal year 2018-19

KARACHI: The Sindh government on Thursday announced total outlay of Rs1.144 trillion provincial budget for fiscal year 2018-19, ARY News reported. Presenting the budget in provincial assembly, Sindh Chief Minister Murad Ali Shah said that this year, the provincial government is requesting the Sindh Assembly to authorize expenditure for only three months from July 1 to September 30, 2018. "Though constitutionally, we have the mandate to approve budget for the next whole financial year, however, to uphold the party…

Pakistan considers to impose tax on Google, Facebook

ISLAMABAD: Pakistan is considering to impose tax on offshore digital companies, including tech giants such as Amazon, Facebook and Google in order to acquire share from earnings of these foreign entities.   As part of the 2018-19 federal budget, these taxes on foreign digital companies - making earnings through Pakistan - have been proposed before the parliament. But at the same time, all such tax proposals have been rejected by the Senate Standing Committee of Finance, terming it anti-business and anti-investments. The…

Punjab govt decides not to present full-year budget after opposition

LAHORE: Amid fears of strong protest from the opposition parties, the outgoing Pakistan Muslim League Nawaz (PML-N) government in Punjab has decided not to present a full year budget for the upcoming fiscal year, ARY News reported. Finance Minister Dr Ayesha Ghous will table a supplementary budget for the financial year 2018-19 on May 7. Earlier, Punjab Minister for Law and Parliamentary Affairs Rana Sanaullah had said the government has decided in principle to unveil the budget for four months only. He said the…

SC moved to declare PML-N’s sixth budget illegal

LAHORE: A petition seeking to declare unlawful the presentation of the full-year federal budget 2018-19 by the Pakistan Muslim League Nawaz (PML-N) government in closing weeks of its five-year term, was filed in the Supreme Court's Lahore registry  on Saturday.  Petitioner Mian Athar has pleaded with the top court to strike down the budget for what he said being unlawful and unconstitutional. He argued that the PML-N government was not entitled to unveil a budget for a year at the fag end of its tenure and added that…

Relief announced in budget 2018-19 to help increase tax base: Miftah

ISLAMABAD: Minister of Finance Miftah Ismail on Sunday said that relief announced in the Budget 2018-19 will help increase the tax base and give an impetus to the national growth. "Taxes in the real estate sector have also been rationalized in order to shun the undocumented economy and encourage people to declare the real worth of their properties," he said while speaking as the chief guest at a post budget seminar organized by Institute of Cost and Management Accountants of Pakistan in Islamabad on Sunday. Referring…

Full text of Finance Minister Miftah Ismail’s budget speech

ISLAMABAD:  Newly appointed Finance Minister Miftah Ismail on Friday presented the budget for financial year 2018-19 during a National Assembly session here on Friday. HERE IS THE FULL TEXT OF HIS SPEECH Bismillahir-Rehmanir-Rahim Mr. Speaker, 1. It is my honour to present today the sixth budget of the PML(N) government to this Parliament. It is indeed a historic moment for the nation and the Parliament to celebrate. Despite challenges, we have achieved a highest growth in thirteen years, low inflationary environment,…

Targeting 6.2pc GDP growth, govt unveils historic sixth budget

ISLAMABAD: Newly-appointed Finance Minister Miftah Ismail has announced the federal budget for the fiscal year 2018-19 with a total outlay of Rs 5.9 trillion as against Rs4.75 trillion for the outgoing year. According to the budget estimates, the target of tax collection for the next financial year is fixed at Rs4450 billion, with the estimated 15 per cent increase. During his speech, the minister said: "The GDP growth rate was 5.4pc last year ─ it has now grown to 5.8pc, the highest in 13 years," he recalled.…

Bone-tickling updates of budget 2018

DISCLAIMER The posts on this page are categorized as satire just to make budget news for you less tiresome and more of a fun. These are all fake updates and any resemblance will be purely coincidental. . . Welcome to the updates ;) . . 5.15pm - PML-N announcing the 'people-friendly' budget  5.28pm - Opposition holds "high-level" meeting before the budget session 5.53pm - Evidence: Karachi continues to be neglected in every budget!  …