Biseworld.com is here with New Federal Budget 2016 to 2017 of Pakistan discussed mostly on every platform at fbr.gov.pk. The Finance Department of All provinces including Punjab, Sindh, Balochistan, Khyber Pakhtunkhwa and AJK (Azad Jammu Kashmir) will also announce the Pakistan Budget 2016-17 from some days distance in the month of starting dates June. The Government Employees Salary Increase and Pay Scale Revised in Budget2016-17 Pakistan is chances to increase 10 to 20 % BPS (Basic Pay Scale) 01 to 22 & Pension of this year budget Punjab signaled by Ministry of Finance Department.
Federal Budget provide the detail of all incoming revenue and outgoing expenditure at the end of every financial year, financial budget present Finance Minister after discussion with ministries in the financial budget, analyze and collect the all revenue detail and make pre plane about the utilization of the resources which is give better benefits instead of previous year. If the resources are below than the expenditure the government decides how to manage the resources to meet the expenditure like foreign loan from different country.
Finance Minister Ishaq Dar develop budget 2016-2017 and discussed decide salary increase and allocate how much budget utilized in Pakistan steel mill, PIA and all other department according to their need and according to their sources and current economic situation challenge. The finance budget describe the criteria how much percentage increase the pension of the retire employee, and discuss in finance budget about the tax matter because the now a day’s people are develop our business by illegal way and government decide how to find out those people how have hidden business. To find them govt decide increase in withholding tax on every banking transaction, and all the payment must be made through banking channel which more than Rs 50000. Also discuss in budget about the transportation business which is in boom it decide that the percentage of withholding increase from the previous year for collect much revenue.
Govt. Employees Salary Increase in Budget 2016-2017
In the budget much focus on the industry which give much revenue to the government and also increase in the GDP percentage and raise the taxes, and discuss in the budget about the electricity which is the key of Pakistan economy and industry growth for this purpose decide the link with other country to make help to reduce the electricity crises and allocate budget, Also keep in view the government decide to attract the foreign investor to start the business in Pakistan which give the employment opportunities and increase the living standard of the people and increase in GDP. And discusses the agriculture sector which is going to decrease for this purpose govt decide give much benefits to the farmer by increase in the sale price of product and by provide the subsidiary in the fertilizer product and decrease rate import on agriculture machinery.
Education sector and services sector are important current budget has been provided 75 million in the Budget 2016, 2017 to the education sector which is much than the previous year and Federal Government decide that the budget for education sector must be increase than the previous two year budget because education sector are sector to much important for Pakistan economy growth and all other sector.
After the implementation of budget the different political member strike against the budget and say much of the budget contribute to the Punjab government and to the ministry of defense. For this purpose Ishaq Dar gives brief summery to the media and opposition party regarding the allocation of the budget. After the strike CM. Nawaz Sharif decides that we decrease the budget of the government department, and target of this year is much than the previous year. The performance of the budget current year monitored by the Finance department under the Federal Government and also consults with the various government sectors, state bank of Pakistan to achieve the objective of Bu Finance Division Notification and Ministry of Finance Notification and of federal budget will be updated in pdf format on official finance department website at www.finance.gov.pk.
The Punjab Government and Federal Finance Division Salary Notification are expected in annual Budget 2016-2017 Pakistan. Budget of Pakistan have all departments like education, Pakistan army & defense, health, rescue 1122, motorway, wapda, district Govt. and petroleum to be announce for the facial year 2016 to 2017. Education budget of Pakistan is most important to be increase for this year Budget 2016-2017.