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Pakistan Budget 2013-14 Some Notable Points.

Pakistan Budget 2013 – 14 , PMLN mentioned in its manifesto that no new taxes but what it appears they are going just opposite of what they mentioned in it, here are some of the points which effects entire Pakistan directly.

  • Average Inflation which is 13 % from past 5 years, this will create inflationary pressure and increase in demand for more wages. Serious measures should to be taken, but there what is no increase in wage rate but pension rate have increased.Other reasons of rise in Inflation include the increase money supply, rising oil prices, instead of reducing imports they have given tax exemptions and an increase in sales tax.
  • Dollar rises to 100 from 60 and while imported hybrid cars are exempted from taxation will lead to further devaluation in currency.while on the other hand hybrid cars are expensive more than Rs 20 lac how come a low or middle class group is able to buy that car. This is also have a bad effect on local car market. They Should have increased taxation on imported cars and focused on production of Hybrid cars locally.  
  • Energy crisis major issue Pakistan cannot progress ahead because of this.
  • Increase in Indirect taxation ( sales tax ) will  increase the inflation rate. An increase in sales tax will make almost every good expensive creating a further load on lower and middle class.
  • Ban on purchase of new vehicles for Prime Minister office i think they had bought new cars before implication of budget so its useless to talk about it.
  • Laptop scheme and  Qarz-e-Hasna 5 billion to young people to start their own business. A very bad step taken instead of giving laptops and loan they should have focused on giving education so later he/she will be able to buy laptops for themselves. Loans will be given by State Bank creating further load on Bank.
  • 1800cc / 2500cc 25% tax exemption. Directly showing that the budget is suitable for upper class as lower and middle is still trapped in utility bills house expences , children education expences, So how could reducing tax will assist him to buy 1800 cc car.
  • 3G auction soon. This would be a good step IF 3G service will be available in Pakistan.
  • Increase in electricity tariffs. This  overall will effect production as cost rises, Already sales tax is increased rising tariffs will further increase in prices of commodities, Thus more burden on public.
  • Government servants were expecting 25% increase in wages but there was no change  made instead the pension rate increased, may lead to corruption like bribe as salaries are low people start earning by alternate wrong means .

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