budget 2020-21 Archives - The Bankers Blog

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...

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...

Tag: budget 2020-21

Budget 2020-21: What to Expect?