Taxes were also increased on 17 percent of the Federal Excise duty, 10% tax imports on dry milk, cement, gold, silver, jewelry, and vehicles on the chicken, mint, fish meat, edible oil, sugar, syrup, and mortar.
The budget has been presented in the National Assembly for 2019-20 in the National Assembly, Rs. 70 billion, 22 billion, budget minister, Hameed Azhar presented in the National Assembly, 17% federal excise on chicken, mint, fish meat, edible oil, sugar, cardiovascular and consumption in the budget. Duty, milk upper, dry milk has been imposed 10 percent tax, 2 excise duty was increased on the cement.
Taxes were increased on gold, silver, diamonds, and jewelry. He said in the budget speech in the National Assembly that the domestic debt and trades were 31 thousand, gold reserves were reduced by 18 billion to 10 percent. The financial deficit reached 2200 billion, the trade deficit reached $ 32 billion. Trade deficit declined $ 4 billion.
There was no increase in exports over the past five years.
The electricity circulation loan reached 1200 billion. The performance of government institutions was a loss of 1300 billion. Billions of rupees were given to keep the minimum amount of rupees. It could not last too long, so the rupee started falling in 2017, and the development of the development broke. He said that our exports increased in the period, and the imports rose to $ 4 billion.
The money invested abroad has increased by $ 2 billion. $ 9.2 billion from China, Saudi Arabia, and the EU; duty will be 313 items from China; I thank the friendly countries. The external deficit in the budget preparation, exports of exports and exports increased. The target targets will be made, the FBR target 550 billion.
Many people do not tax, but now it will not happen in the new Pakistan. The rate of inflation has been kept up to 7 percent. The electricity consumers will be given less power than the cost of Rs 200 billion will be kept. The ministry has been formed to eliminate the obligation. 80 thousand deserving people will be lured up. Devices will be provided to consumers.
He said that the civil and military budget was reduced by sharpness. Saul and the military leadership declared the ideal. The budget will be 437 billion and the military budget will be maintained to 1150 billion will be maintained for the increase in the military budget. 12 billion have been kept for agriculture, development budget for Balochistan has been kept 10.4 billion. 45.5 billion for Balochistan Are being provided.
The budget will not be borrowed from the State Bank to meet the budget deficit. Hamad Azhar said that Rs. 1800 billion has been kept for National Development Program and non-developmental expenditure volume has been Rs 6192 billion 90 crores. 12 billion have been kept for agriculture, 70 billion rupees are being allocated for water resources. Minister of State said that 45.5 billion rupees have been proposed for 9 development projects in Karachi.
152 billion rupees have been kept for developmental projects of Khyber Pakhtunkhwa. Development budget for Balochistan is 10.4 billion. 45.5 billion are being provided for the crisis. The budget will not be borrowed from the State Bank to meet the budget deficit. 2891 billion 40 crores have been kept for interest payments. The cost of pension has been estimated at Rs 421 billion.
The salaries of grade one to 16 employees will be increased by 10% and salaries of grade 17 to 20, 5% and Grade 21 to 22 employees will not be raised. The Federal Cabinet has decided to volunteer to reduce its salaries 10. In the budget, up to 1000 cc vehicles, 2.5 percent, one thousand to 2000 to 2000 cc vehicles and 7.5 percent excise duties have been imposed on the vehicles of 2001 CC.