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| June 06, 2006 | Tuesday | Jumadi-ul-Awwal 9, 1427 |
Welcome to DAWN, Pakistan's most widely circulated English language newspaper
Updated round-the-clock, with a major update before 10:00 PST (05:00 GMT)
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Focus on relief as election year looms: •Rs1.5tr outlay for 2006-07 •Minimum wages raised to Rs4,000 •Employment scheme envisaged •15pc dearness allowance for govt employees •Budget deficit at Rs374bn •Defence claims Rs250bn •CVT on property deals
ISLAMABAD, June 5: The government has presented Rs1.5 trillion federal budget for 2006-07 in the National Assembly, which sets a revenue target of Rs840 billion, defence spending of Rs250.2...
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Farm sector allocation increased
ISLAMABAD, June 5: The government has allocated Rs22.259 billion to the agriculture, food, irrigation, forestry and fisheries sector in the 2006-07 budget, which is Rs9.944 billion more compared to last year. The agriculture sector could only grew by a frustrating 2.5 per cent in the outgoing fiscal year against previous year’s 6.7 per cent, mainly due to adverse weather conditions, non-availability of required water and skyrocketing prices of inputs.....
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Development plan size enhanced by Rs163 billion: Rs50 billion for quake reconstruction
ISLAMABAD, June 5: The Public Sector Development Programme (PSDP) for the 2006-07 fiscal unfolded by the government on Monday has been pitched at Rs435 billion as against Rs272 billion for the outgoing year....
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Transfers to provinces projected at Rs398bn
ISLAMABAD, June 5: The federal budget 2006-07 envisages Rs398.1 billion net transfers to provinces, including a share of Rs321.1bn in net proceeds of the federal divisible pool under the interim National Finance Commission Award....
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Opposition walkout, shouts greet budget in parliament
ISLAMABAD, June 5: Opposition walkouts and protest shouts greeted the new federal budget on Monday, interrupting a politically charged budget speech of Minister of State for Finance Omar Ayub Khan....
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Highlights
ISLAMABAD, June 5: Following are highlights of the budget 2006-07: Rs250 billion allocated for defence, showing an increase of Rs27 billion over the outgoing year’s allocation, or 3 per cent of the GDP...
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Defence budget raised to Rs250 billion
ISLAMABAD, June 5: The defence budget of the country has been increased to Rs250 billion from outgoing fiscal year’s Rs223 billion. “We have no confusion about Pakistan’s independence and security and...
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Aziz rules out mini-budget: Power, gas tariff hikes defended
ISLAMABAD, June 5: Prime Minister Shaukat Aziz has termed the 2006-07 budget people- and investor-friendly and ruled out the chance of a mini-budget during the year but simultaneously defended the proposed...
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Steps to increase revenue
ISLAMABAD, June 5: The government has projected to raise additional revenues of Rs25 billion through several new measures proposed in the budget 2006-07. According to official documents released on Monday, additional taxes of Rs14 billion and Rs10.8...
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Rs109bn will go to relief, subsidies
ISLAMABAD, June 5: The government will provide in the 2006-07 federal budget about Rs109 billion or 1.2 per cent of GDP as subsidies and relief, which is about 31.3...
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Populist overtones
KARACHI, June 5: Although the budget speech of the spirited third generation politician Omer Ayub was loaded with populist overtones, it concealed more than what it revealed....
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Five Afghan policemen killed, four abducted
KANDAHAR, June 5: Suspected Taliban rebels stormed a highway police checkpost in southern Afghanistan on Monday and killed five policemen, abducted four others and stole weapons, police said....
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Soldier dies in rocket attack
MIRAMSHAH, June 5: Militants launched a rocket attack on the Oblanki checkpost in Dosali area of the Razmak subdivision, late on Sunday night, killing one soldier and injuring another....
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Abbas to call referendum
RAMALLAH, June 5: Palestinian President Mahmud Abbas will call for a referendum on a proposal for statehood that implicitly recognises Israel after factions failed to agree on the document on Monday, a delegate to the talks said....
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ST levied on computer hardware
ISLAMABAD, June 5: The government has levied sales tax on computer hardware but removed customs duties on it in the federal budget for the fiscal year 2006-7....
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Education ministry to get Rs6.5bn
ISLAMABAD, June 5: The government has allocated Rs6,560.258 million for the ministry of education under the Public Sector Development Programme (PSDP) 2006-07. Out of this allocation, Rs2,741.682...
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Relief for government employees
ISLAMABAD, June 5: The federal government on Monday announced several measures in the national budget to lessen impacts of rising prices, including 15 per cent dearness allowance for government employees and...
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Pakistani to receive award
NEW YORK, June 5: A Pakistani-American, owner of a furniture chain in the East Coast, has been chosen to receive the Business Humanitarian Award according to the United States Council for International Business (USCIB) and the Business Humanitarian Forum....
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