Live Updates: Tax on mobile phone calls to be reduced

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Budget 2017 Live Updates

Rs 920 billion have been allocated for defence: Ishaq Dar

-2% additional tax to be imposed on lubricating oil: Ishaq Dar

-Pensions of retired government employees to be increased by 10%: Ishaq Dar

-A 2 percent quote for jobs of the children of martyrs in government institutions has been recommended: Dar

-Budget of the Bait-ul-Maal to be increased from Rs 4 billion to Rs 6 billion: Ishaq Dar

-Prices of kids diapers to be reduced as well: Dar

-38.5 percent allocated for higher education: Ishaq Dar

-Rs 4 trillion and 1 billion have been allocated for the electricity sector: Ishaq Dar

Rs 20 billion have been allocated for Prime Minister’s Youth Program

-Advance tax will have to be paid on a monthly income of more than Rs 85,000: Ishaq Dar

Tax on 1300 cc cars to be increased from Rs 23,000 to Rs 25,000: Ishaq Dar

-Tax on 1,000 cc cars will be reduced to Rs 15,000: Ishaq Dar

-Tax on 850 cc cars to be reduced from Rs 10,000 to Rs 7,500: Ishaq Dar

-Withholding tax on car registration to be reduced: Ishaq Dar

-Corporate tax has been reduced from 31% to 30%: Ishaq Dar

-Rs 42.9 billion have been allocated for the restoration of railways: Ishaq Dar

-Rs 1.8 billion have been allocated for the security of CPEC

-6% sales tax has been imposed on the sale of clothes: Ishaq Dar

-Rs 200 per kilogram regulatory duty has been imposed on the sale of paan: Ishaq Dar

-Regulatory duty on paan, chaalia has been increased from 10% to 25%: Ishaq Dar

-Rs 18 billion allocated for CPEC projects: Ishaq Dar

-Price of ammonia fertilizer will be decreased by Rs 300: Ishaq Dar

-Sales tax on the steel sector has been increased: Ishaq Dar

-Minimum wage has been increased to Rs 15,000: Ishaq Dar

-Rs 21 billion have been recommended for Bhasha dam project: Ishaq Dar

-Rs 54 billion have been allocated for Dasu project: Ishaq Dar

-Rs 12.5 billion have been allocated for the Energy for All Program: Ishaq Dar

-Fixed tax on builders and developers has been revoked: Ishaq Dar

-Tax on mutual funds has been increased to 12.5%: Ishaq Dar

-Additional allowance of 10% in Zarb-e-Azb allowance for Pakistan Army jawans: Ishaq Dar

-Custom duty on mobile phones has been decreased from Rs 1,000 to Rs 650: Ishaq Dar

-Withholding tax on mobile calls has been decreased from 14% to 12.5%: Ishaq Dar

-Withholding tax on e-banking is also being waived off: Ishaq Dar

-FED on cigarettes has been increased: Ishaq Dar

-Duty on e-cigarettes has been increased from 3 percent to 20 percent: Ishaq Dar

-Those who earn Rs 1 million per annum will pay advance tax: Ishaq Dar

-Custom duty will be imposed on machinery: Ishaq Dar

-Salaries of government employees would be increased by 10%: Ishaq Dar

-Subsidy has been retained for those who consume more than 300 units of electricity: Ishaq Dar

-A loan of Rs 50,000 per farmer would be granted: Ishaq Dar

-The price of fertilizer will remain the same: Ishaq Dar

-Custom duty has been waived off on ostrich: Ishaq Dar

-Government to bear Rs 118 billion electricity subsidy: Ishaq Dar

-Poor people will be granted Rs 50,000 for conducting business: Ishaq Dar

-Rs 20 billion have been allocated for the laptop scheme: Ishaq Dar

-Rs 121 billion have been allocated for Benazir Income Support Program: Ishaq Dar

-Pakistan has been included in the 10 countries that have adopted the best reforms: Ishaq Dar

-Rs. 1.001 trillion allocated for development projects: Ishaq Dar

-GDP target set at 6 percent for the next year: Ishaq Dar

-Have to consolidate the economic gains that we have attained, in the upcoming years

-Khursheed Shah and other opposition members, who had walked out during Ishaq Dar’s address, have taken their seats yet again

-Per capita income has increased by 22% in the past four years: Dar

-Ishaq Dar lauds the performance of the Pakistan Stock Exchange and claims that it would be included in the MSCI Emerging Markets Index from June 1, 2017.

-Farmers have been granted loans amounting to Rs 600 billion: Ishaq Dar

-Trade deficit has decreased from 8.2% to 4.2%: Ishaq Dar

-Tax collection has increased by 81% over the past 4 years: Ishaq Dar

-Opposition members tear out copies of the session’s agenda

-Rs 404 billion have been allocated to eliminate loadshedding from the country

-GDP has grown at a rate of 5.26 percent: Ishaq Dar

-Pakistan will be a member of the G-20 by 2030: Ishaq Dar

-Ishaq Dar claims that loadshedding would be completely eliminated from the country by next year

-Ishaq Dar points out that it is for the very first time that the same Prime Minister and Finance Minister are presenting the budget for the fifth consecutive time.

-Finance Minister Ishaq Dar begins his address to the parliament as opposition members chant slogans.

-Khursheed Shah laments the fact that farmers were subjected to assault earlier during the day when they protested.

-Syed Khursheed Shah is granted the opportunity to speak. Currently, the Leader of the Opposition is addressing the assembly.

-Leader of the Opposition Syed Khursheed Shah is prevented from speaking by Speaker of the National Assembly Ayaz Sadiq.

-Prime Minister Nawaz Sharif is in the National Assembly as Finance Minister Ishaq Dar prepares to present the annual budget 2017-2018.

– Prime Minister is chairing federal cabinet meeting in Islamabad. Finance Minister Ishaq Dar presented budgetary proposals in the meeting and briefed the participants on budget allocations.

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– He was addressing meeting of the PML (N) parliamentary party in Islamabad on Friday.

– The Prime Minister said the government is accountable to the people of Pakistan and they will decide as to who delivered and who did not.

– Prime Minister Nawaz Sharif says the government is determined to bring positive reforms in governance despite opposition from various segments.

– The federal government is spending five billion rupees on reconstruction and rehabilitation of damaged infrastructure in FATA.

d Upper Atmosphere Research Commission (SUPARCO) will be getting Rs. 3 billion from the budget while Rs. 26 billion is being allocated for Border Affairs Division.

– Railway Division will be getting Rs. 42 billion while Planning Division will get Rs. 16 billion from the federal budget.

– Rs. 20 billion have been earmarked for Prime Minister Youth Scheme while Rs. 90 billion have for Securities and Internally Displaced People (IDPs).

– The sector of Gas Infrastructure will be getting Rs. 25 billion from the federal budget while Rs 40 billion will be spent on special programmes.

– Higher Education Commission (HEC) will be getting Rs. 35 billion from the federal budget while Rs. 10 billion have been set aside for Housing and Works.