Bad news for govt officers and pensioners

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Friday, Jun 12th: According to the Baaghi TV report, this time there was no increase in the salaries and pensions of the employees in the budget 2020.

The total estimate of federal expenditure during the new financial year is seven thousand one hundred and thirty seven billion, two thousand two hundred and twenty three billion Foreign loans will be obtained. Four hundred and seventy six billion allocated for federal ministries, the provinces will get two thousand eight hundred and seventy four billion rupees under the NFC award. A budget of Rs 470 billion was presented for pensions and Rs 210 billion for subsidies.

The federal government has announced in the new budget to reduce taxes for various industries and reduce customs duties, while imposing federal excise duties on various items. In the budget for the next financial year, sales tax for shopkeepers will be increased from 14% to 12% has been suggested. Holding tax has been waived for the provision of affordable housing. The requirement of school fees for taxpayers has been abolished. Speaking on the budget for the next financial year, Federal Minister for Industries and Production Hamad Azhar said that 2% ACD on edible oil and oilseeds has been abolished under the Prime Minister’s Relief Fund.

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