Budget in Pakistan 2013 2014

Pakistan Budget 2013-2014 in Brief

Budget in Pakistan 2013 2014

Highlights of Budget 2013-2014

  1. GST increased from 16% to 17%
  2. Pensions to be increased by 10%. No raise in salaries.
  3. Minimum pension raised from Rs 3000 to Rs 5000
  4. Tax holiday in Special Economic Zones enhanced from 5 to 10 years.
  5. Rs 59 billion allocated for new water reservoirs
  6. Rs 225 billion allocated for energy projects
  7. Pakistan Railways to be converted into a corporation
  8. 1000 Colonies for low income groups; each with 500 houses
  9. Corporate tax to be reduced in 5 years from 35% to 30%
  10. Adjustable withholding tax to be imposed on marriages in halls, dramas, entertainment
  11. Tax slab on salaries up from 25% on Rs 2.5 million to 35% on Rs 6.5 million
  12. Rs 3 billion allocated for Laptop Scheme for HEC recognised institutions
  13. Expenditure of PM Office reduced from Rs 726 million to Rs 396 million
  14. Students with 16 years education to get internship, Rs 10,000 stipend
  15. Free 6 months vocational training for up to 25 year youth
  16. 57 Billion for Free Student Laptop
  17. Tax on Hybrid vehicles reduced by 100% up to 1200cc; 50% on 1200-1800cc; 25% pm 1801-2500cc
  18. Rs 2 billion Ramzan package to be offered at Utility Store
  19. Ban on purchase of new vehicles in government department
  20. Benazir Income Support Program to be renamed as Income Support Program; up from Rs 40 billion to Rs 75 billion; stipend increased to Rs 1200
  21. Number of federal ministries to be reduced to 40
  22. Ban on purchase of new vehicles for Prime Minister office
  23. Ministers discretionary funds abolished
  24. Tax exemption of luxury cars to be abolished