+- Pakistan Real Estate Times - Pakistan Property News (https://www.pakrealestatetimes.com)
+-- Forum: Pakistan Real Estate / Property News (/forumdisplay.php?fid=1)
+--- Forum: Latest Pakistan Property & Economic News (/forumdisplay.php?fid=4)
+--- Thread: 2010/11 budget - what to watch for (/showthread.php?tid=10721)
2010/11 budget - what to watch for - Lahore_Real_Estate - 05-25-2010 11:47 AM
KARACHI: Pakistan is due to announce its budget for the 2010/11 (July-June) fiscal year on June 5.
Following are details of the budget that have been announced and media reports on its likely contents.
Macroeconomics
-- The government expects gross domestic product (GDP) to grow by 4.5 percent in the 2010/11 fiscal year beginning on July 1, compared with 4.1 percent forecast for the 2009/10 fiscal year.
-- Agriculture growth in the next fiscal year is targeted at 3.8 percent, manufacturing growth at 5.6 percent and service sector growth at 4.7 percent.
-- Inflation for the 2010/11 fiscal year is targeted at 8 percent, compared with the central bank's forecast of between 11 percent and 12 percent for the 2009/10 fiscal year.
-- The government is aiming for a fiscal deficit in the 2010/11 fiscal year of between 4 percent and 4.2 percent of GDP, compared with an earlier forecast of 5.1 percent.
Taxes, Duties And Subsidies
-- The government has decided to eliminate subsidies on power, fertiliser and sugar in the budget for the next fiscal year.
-- The government is expected to announce the replacement of a general sales tax with a 15 percent value-added tax in the budget.
-- The government is expected to impose capital gains tax on the purchase of stocks made on or after July 1.