Budget 2020 Archives - The Bankers Blog

12Jun

By AdminNo Comments

Budget 2020, Trending

Budget for FY 2020-21 : Highlights

Federal Minister for Industries and Production presented Federal Budget for the Financial Year 2020-21 in National Assembly today. Here are few highlights of Federal budget 2020-21 Key Highlights and allocations are as under: Highlights of the Federal Budget for the FY 2020-21 : No New Taxes has been imposed. No Rise in the salaries of the Government Servants. No Rise has been announced for pensioners. Volume of the Budget is kept at 7600 Billion Rupees. For Corona Relief Package a substantial amount has been reserved. Key Allocations of the Federal Budget for the FY 2020-21 : 1324 billions allocated for development projects (Public Sector Development Program). 1289 billions allocated for Defense sector. 1200 billions allocated for Corona Relief Package. ...

11Jun

By Faraz FarooquiNo Comments

Budget 2020, Trending

Pakistan Economic Survey 2019-2020

Economic Advisor Presents the Economic Survey 2019-20 Today on 11th of June, 2020, the advisor to the PM on economy presided over the meeting of the Pakistan economic survey before Budget 2020-21. Mr. Abdul Hafez Sheikh reiterated that macro-economic indicators are doing well. He said, for the first time in many years that our primary balance is in surplus, meaning the income surpasses the expenses. Also, “we managed to reduce the current account deficit from $20 billion to just 3 billion”, said Hafeez. This is a massive improvement. Citing the reason, he mentioned, it is due to the import restrictions that the govt. took last year. The economic advisor also thanked the Army Chief to agree on not increasing the military budget owing to tight fiscal space during coronavirus pandemic, so...

11Jun

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Budget 2020, Trending

Economic Survey of Pakistan 2019-20 : Highlights

Economic Survey of Pakistan 2019-20 was presented to the Prime Minister of Pakistan today. Basically a gloomy book of statistics wrapped in red ribbon. It was not at all good for PTI's led Government, as govt misses key macro indicators by a margin. Here are few highlights of the Economic Survey of Pakistan 2019-20. A Major Miss: GDP Growth Target was 4% but it falls drastically to a negative figure after 50's. It falls to -0.38%. A Major Plus : In the FY 2019-20 , Exchange rate remained stable and Foreign Direct investment (FDI) grows by 127%. An improved ranking in World Bank Ease of Doing Business Index (EDB). Another Plus : B3 Credit Rating by Moody's. A big blow: Per Capita income reduced to 1355 $ compared to 1455$ and 1652 $ in the year of Fy 2019 and 2018 respectively. A B...

8Jun

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Budget 2020

Budget 2020-21: What to Expect?

What we know so far about the upcoming 2020-21 Budget? In a few weeks from now, the GOP is going to unveil the 2020-21 fiscal budget. It is expected to be less than the preceding year’s total budget of Rs 1.7 trillion as the GDP growth is expected to be shrunk by negative 1.5 percent, thanks to the rupee devaluation and economic downturn due to the novel coronavirus. Probably the only good thing we know so far is that no new taxes are being imposed on the public rather more people will be brought into the tax net. The country’s security is the first priority of Pakistan so its need will be fulfilled. What are the expectations so far? Moreover, the FBR tax target is sought to be reduced to Rs 4,800 from Rs 5,103 bn. Apart from this there is a high chance of subsidiary to constructi...