Budget 2021-22 Presented in National Assembly

According to media reports, Finance Minister Shaukat Tareen submitted a growth-oriented budget with an expenditure of PKR 8,400 billion to the National Assembly in Islamabad.

The most important aspects of the budget for 2021-22 are as follows:

PKR 244 billion for Gwadar airport and roads.
20 Pakistani Rupees towards the development of south Balochistan
47 billion Pak Rupees for Gilgit-Baltistan
60 billion Pak rupees for Azad Jammu & Kashmir
PKR 739 for Karachi redevelopment plan
PKR 12 million for agriculture
260 billion Pakistan Rupees for the Ehsaas programme
The budget for public sector development programmes has been boosted by 40% to PKR 900 billion. The funds will be used for projects such as water distribution, road infrastructure, special economic zones, and climate change mitigation.
14 billion Pakistani rupees for the Neelum-Jhepal hydroelectric facility
118 billion Pakistani rupees for energy and power
PKR 25 billion for Sindh’s minor dams
23 billion rupees for the Diamer and Bhasha dams
PKR 10b for Kamyab Naujawan programme
22 billion Pakistani rupees for the Jamshoro coal plant
16 billion Pakistani rupees for the KI, KII, and Tarbela power plant
54 billion Pakistani rupees towards the development of KP’s amalgamated districts.
14 billion Pakistani rupees for tree planting programmes and combating climate warming
100 billion PKR for special development packages for impoverished city development
PKR 1.1 billion for the acquisition of coronavirus vaccines in order to reach the goal of immunising 100 million individuals by June 2022.
100 billion Pakistani rupees for a covid-19 emergency fund
66 billion Pakistani rupees for HEC and education programmes
12 billion Pak rupees for SME support packages
Other notable aspects include:

Minimum pay is PKR 20,000 per month.
No new salary-based taxes.
The pension will rise by 10%.
The integrated allowance for officers in grades 1 through 5 would increase from PKR 450 to PKR 900.
Government employees’ salaries will increase by 10%.
In the country, special technology zones will be established. In these zones, plants, machinery, and other equipment will be exempt from taxation.
FBR will create specialised retail cells to accommodate customers.
To take action against those who annoy taxpayers. Government will employ tax machinery against people who do not pay or file taxes.
Reduced withholding tax by 40%. No taxes will be withheld on banking transactions, margin financing, air transport services, debit card and credit card transactions, or the discovery of minerals.
The mobile phone withholding tax will be cut by 10%, then to 8%.
The capital gains tax has been cut from 15% to 12.5%.
No federal excise tax is imposed on domestically manufactured 850cc automobiles.
The sales tax on locally produced automobiles was decreased from 17% to 12.2%.
The sales tax on domestically manufactured electric vehicles has been cut from 17% to 1%.
Certain domestically built heavy motorcycles are exempt from taxes.
No import duties on books and periodicals.
There are no Customs duties on animal immunisations.
To aid the tourism industry, raw materials utilised by the industry will be exempt from customs duties or discounted.

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