Federal Government of Pakistan has announced its budget for fiscal year 2010~2011 on Saturday 05 June, 2010. Finance Minister Dr. Abdul Hafeez Shaikh presented the budget in the parliament. It is being said that it is a balance budget in which government tried its best to give relief and incentives to the working class. While another school of thought said that it is not more than a number game.
Government has increased the pay of government servants by 50 percent of their basic pay as Adhoc Relief Allowance. While Medical Allowance of the employees of scale 1~15 have been doubled and the Medical Allowance of employees of scale 17~22 have been increased by 15% of their basic. So the actual increment is about 60 to 65 percent of the basic pay of all federal government employees. An interestingly good news is that cabinet members' pay has been cut down by 10%. Minimum pay has been increased from 6000 to 7000. And minimum annual income for income tax has been set at Rs. 300,000.
But there are also fewer flaws in the budget. Although Government has increased the pay but why didn't they fully accepted the recommendations of Pay and Pension Committee. Tax on some electric gadgets have been increased.
Write Your Comments on the Budget 2010~2011
What are your views and reviews about budget 2010~2011. Did it fulfil your wishes and desires or not? Write your comments in the Comments Form below.