ISLAMABAD: The central budget for 1971-72, shows a resource gap of Rs94 crores, which is proposed to be covered through new measures — a major portion of its through new taxation. Mr M.M. Ahmed, economic adviser to the President, who presented the budget this evening [June 26] at a Press conference here, said ... “the keynote of the new strategy has to be maximum austerity and self-reliance in development”.

On the revenue side, receipts at existing rates of taxation are projected at Rs377 crores, about ten crores below the original budget estimates for the current financial year, but Rs90 crores above the depressed revised estimates for 1970-71. After adjusting for the larger non-development expenditure and deducting the provincial shares of the Central revenues, the surplus available out of the Central revenue for financing the developing programme is about Rs109 crores.

Ban on luxury housing

[Meanwhile, as reported byagenciesin Islamabad,]The Government have decided to place a ban on the construction of large luxury houses. Announcing this in his budget speech, Mr M.M. Ahmed said that a legislation is being enacted to restrict the size of residential plots in urban area. Restrictions will also apply to floor area of construction ... He hoped that the ban on large sized plots and luxury houses would improve the availability for smaller plots.

Solicitude for the poor

[A staff correspondent adds in Islamabad,] The 1971-72 Central Budget, noted for its bias on austerity and social justice, has evoked much commendation from all segments of population, particularly the business community, for its balanced and purposeful approach to the socio-economic problems facing the country. The surprising element in respect of the budget is that it pleasantly belies expectations about heavier taxation in view of the difficult economic situation. The fact that taxes have been sought to be levied on the particular sectors which have the capacity to bear them, demonstrates the present regime’s solicitude for the poor consumer and common man whose interests have been duly safeguarded.

Show organisers convicted

[Meanwhile, as reported by a staff correspondent in Karachi,]Mr Farid Qureshi, President of the Fankar Art Circle, was jailed for three months and fined Rs1,000 or to suffer two months hard labour by a Summary Military Court under MLR 76 which prohibits public meetings, other than religious ones without the permission of Martial Law authorities. Co-accused Shahid Siddiqui, also an office-bearer, was fined Rs1,000 or to suffer two months hard labour on the same charge. … According to the prosecution, the two accused were sent up for trial for organising a girl students cultural show without obtaining necessary permission from the authorities....

Published in Dawn, June 27th, 2021