The historic budget

Amid ruckus and a walkout by the opposition, Finance Minister Dr Miftah Ismail on Friday announced Rs5.247 trillion inflationary budget, as its proposed taxation measures outweigh the relief offered to industrialists, agriculturists and salaried persons ahead of elections PML-N became the first political party to announce six budgets during its tenure, marking a significant milestone for Pakistan that has, as of yet, only seen one democratic government complete its term. A closer look at the budget documents, including the Finance Bill 2018, reveals that contrary to what most people expected, the newly appointed finance minister has not lost sight of the economic realities

With election in mind: A candy-coated budget by Miftah

Taxation measures outweigh relief offered to industrialists, agriculturists and salaried

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With some relief and new taxes, PML-N draws the curtain on its budgets

Gives incentives to industrialists, stock market as well as importers of coal and LNG

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Pakistan Stock Exchange wins big in budget

Analysts say market to witness rally immediately

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Subsidy allocation jacked up by 18.4% to Rs174.7 billion

Consumers of electricity and commodities will receive some relief

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Defence budget up by around 20%

PML-N govt proposes Rs1.1 trillion budget for three wings of armed forces

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Exports projected to grow to $28 billion in fiscal year 2018-19

Trade deficit for current fiscal year estimated at $29 billion

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Customs duty on import of electric cars cut to 25%

Duty on charging stations for environment-friendly vehicles removed

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Govt expects ambitious Rs486b in revenues from oil, gas firms

Sets high target despite failing to meet goal in outgoing year

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Computer parts exempted from tax to promote laptop assembly

Measures taken to encourage manufacturing of computers and laptops

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Relief measures for agriculture continue

Fertiliser manufacturers biggest beneficiaries

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10% rise in salaries, pensions of govt employees

Overall relief for salaried class to be much higher than the ad-hoc relief, minister claims

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Govt eyes 100% school enrolment

Ismail announces ambitious measures in budget ahead of elections

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Debt repayment, servicing alone to swallow Rs2.2tr

Pressure to mount on foreign currency reserves due to growing debt pile

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Presidency, PM House get funding boost

Presidency’s funds up by 8%, PM office also gets Rs986 million

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Government proposes Rs16 billion for elections

Allocates Rs2.5 billion for ECP’s running expenses

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