National Assembly passes Finance Bill 2021

News Image

MG News | June 30, 2021 at 09:46 AM GMT+05:00

0:00

June 30, 2021: The National Assembly passed the Finance Bill 2021 yesterday, giving legal effect to the budgetary proposals for the next fiscal year.

It was presented by Finance Minister Shaukat Tarin.

The amendments proposed by the opposition in the finance bill were rejected by the House.

Having a total outlay of 8,487 billion rupees, the budget 2021-22 envisages incentives and measures for various sectors to promote business activities and provide relief to the general public.

The federal employees have been granted ten percent ad hoc relief besides a ten percent increase in pensions. The minimum wage has been enhanced to twenty thousand rupees per month.

The annual PSDP has been increased by forty percent from six hundred and thirty billion rupees to nine hundred billion rupees. One hundred billion rupees have been earmarked for the construction of hydropower dams including Dasu, Diamer Basha, Mohmand, and Neelum Jhelum.

The growth target of 4.8 percent has been set for the next fiscal year with a tax collection target of 5829 billion rupees.

Allocation for the Ehsaas program has been enhanced from 210 billion rupees to 260 billion rupees for the next fiscal year.

An amount of 682 billion rupees have been earmarked for subsidies which were 430 billion rupees during the outgoing fiscal year.

The budget provides zero-rating to export of IT services.  Tax relief has been given for locally manufactured cars up to 1000CC whilst various tax exemptions and concessions have also been given to encourage the manufacturing of electric vehicles in the country.

Sixty six billion rupees have been allocated for the Higher Education Commission and ten billion rupees for Kamyab Jawan Program.

The budget also envisages the allocation of 1.1 billion dollars for the procurement of anti-Covid vaccines.

The house will now meet today at 11:30 am.

Radio Pakistan

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 0.00
0.00
-390.00
-0.33%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 0.00
0.00
0.30
0.44%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 13, 2025 at 06:20 PM GMT+05:00

Pakistan, UK to sign Trade Dialogue ToRs


July 13, 2025 at 05:48 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


July 13, 2025 at 05:44 PM GMT+05:00

Inside NCCPL’s Rulebook Shift


July 13, 2025 at 01:57 PM GMT+05:00

Weekly Market Roundup


July 13, 2025 at 10:26 AM GMT+05:00

K-Electric dispels rumours of peak hour changes



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg