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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Pakistan's 2009/10 budget - what to watch for Reuters - Wednesday, June 3 KARACHI, June 3 - Pakistan will announce its budget for the 2009/10 fiscal year on June 13. ADVERTISEMENT Following are details of the budget that have been announced and media reports on its likely contents. MACROECONOMICS -- The International Monetary Fund projects Pakistan's real gross domestic product growth to be 2.5 percent in the 2008/09 fiscal year and 3.5 percent in the 2009/10 fiscal year. This compares with an original target of 5.5 percent for 2008/09 and 5.8 percent achieved in 2007/08. -- The Ministry of Finance would propose a government tax collection target of 1.405 trillion rupees for the 2009/10 fiscal year, the Daily Times reported. The target for this fiscal year was 1.25 trillion rupees and the government collected 849.2 billion rupees in the first nine months. Dawn reported on Wednesday that the Federal Board of Revenue collected 989.096 billion from July to May. -- The National Economic Council is likely to approve a growth target of 3.3 percent for the next financial year, the Business Recorder reported. -- The newspaper also said the budget outlay for the next fiscal year would be 2.9 trillion rupees, while the revenue collection target will be 1.406 billion rupees. -- The budget deficit for the next fiscal year will be 5 percent of GDP, and 343 billion rupees will be alloted for defence, the Daily Times reported. The IMF said on its website it had reached a preliminary understanding to increase the 2009/10 deficit target to 4.6 percent of GDP. -- The National Economic Council was likely to approve 595 billion rupees for the Public Sector Development Programme for the 2009/10 fiscal year, Business Recorder reported. SUBSIDIES AND DUTIES -- Adviser to the Prime Minister on Finance said on Sunday the government had decided to abolish subsidies on the gas, electricity and oil sectors, the Daily Times reported. TAXES -- There would be no new taxes on industry and the rate of general sales tax would remain the same, Tarin said on Saturday, the Business Recorder reported. -- The government is considering taxing capital gains on real estate after excluding initial buying cost, transfer documentation cost, provincial fees and the impact of inflation, the Daily Times reported, quoting official sources. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business Japan's Komatsu to make hybrid excavators in ChinaAFP - Wednesday, June 3 Saudi Saad woes deepen on downgrade, restructuringReuters - Wednesday, June 3 India bond yields steady in lacklustre tradeReuters - Thursday, June 4 India Hot Stocks: Flawless Diamond extends gains post orderReuters - Wednesday, June 3 Japan Hot Stocks-M'bishi Heavy, glassmakers, ToshibaReuters - Wednesday, June 3 Most Popular – Business Viewed Pandemic warnings as swine flu spreads to Africa World 'getting closer' to swine flu pandemic: WHO Last Titanic survivor dies in England Talent judge defends singing sensation Boyle Ancient eruption 'killed off world's sea life' View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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