Fiscal Local

Fiscal Local
1. PTI aims to keep expenditure to an all time low by banning purchase of vehicles, creation of new
jobs, etc.
Source: Geo News, 24/08/19, https://www.geo.tv/latest/245680-govt-slaps-ban-on-new-jobs-
purchase-of-vehicles
2. Pak government growth target of 5.5% to be achieved over five years
Source: Business Recorder, 23/06/19, https://www.brecorder.com/2019/06/23/505040/govt-sets-
average-gdp-growth-rate-target-of-5-5pc-in-5-years-khusro-bakhtyar/
3. Nobody knew the real value of exchange rate and nobody can predict or fix the exchange rate at a
certain level because it is always determined by the market itself.
Source: Business Recorder, 02/07/19, https://www.brecorder.com/2019/07/02/506751/no-
agreement-with-imf-to-fix-exchange-rate-at-certain-level-hafeez-shaikh/
4. ADB predicts increase in Pakistan’s inflation rate despite tight policies.
Source: Business Recorder, 03/04/2019, https://www.brecorder.com/2019/04/03/485581/adb-
forecast-increase-in-inflation-rate-for-pakistan-up-to-7-5-percent/
5. Government of Pakistan bans creation of new posts unless required by for a new development
project to reduce expenditure.
Source: SAMAA, 23/08/19, https://www.samaa.tv/news/2019/08/five-ways-the-government-
plans-to-save-money-this-year/
6. PIA reports increase in revenue by 30%
Source: Tribune, 20/08/19, https://tribune.com.pk/story/2037526/2-pia-revenue-jumps-30-jan-
jun-2019/
7. PIA revenues increase due to introduction of new profitable routes.
jun-2019/
8. Promotion of tourism by the aviation division helped increased PIA revenues by increasing
tourist influx to the northern areas.
jun-2019/
9. Official data suggests Pakistan increased its revenues from the power sector.
Source: Profit, 16/08/19, https://profit.pakistantoday.com.pk/2019/08/16/power-sector-witnesses-
rs121bn-increase-in-revenues/
10. PKR 1.3 billion recovered from power thieves amid crackdown by authorities
11. Imran Khan launches initiatives to reform the private sector.
12. By the year 2025, Pakistan’s share of renewable energy in the energy mix will be increased to
20% from the existing 4%.
13. June next year, the circular debt growth will be brought down to Rs8 billion per month
14. Pak railways succeeds in securing highest ever revenue.
Source: Business recorder, 19/08/19, https://www.brecorder.com/2019/08/19/518094/pakistan-
railways-achieves-highest-revenue-of-rs-54-59bn/
15. Pak railways has added 24 new passenger trains into its operation, expanding its capabilities and
revenues.
16. Pak railways introduces Wifi in trains to increase public comfort and use.
17. Annual token tax for the year 2019-2020 announced in the finance bill.
Source: PakWheels, 23/08/19, https://www.pakwheels.com/blog/look-annual-token-tax-punjab-
vs-federal-fy-2019-20/
18. Pakistan government would provide PKR 1 billion subsidy on import of fertilizers to facilitate the
farmers and promote agriculture sector
Source: Business Recorder, 18/07/19, https://www.brecorder.com/2019/07/18/510863/govt-to-
provide-rs-one-billion-subsidy-on-fertilizer-imports-razak-dawood/
19. Government vows to maintain fertilizer prices.
Source: Business Recorder, 18/07/19, https://www.brecorder.com/2019/07/18/510863/govt-to-
provide-rs-one-billion-subsidy-on-fertilizer-imports-razak-dawood/
20. Punjab government to provide subsidy to cotton growers in south Punjab.
Source: The news, 14/03/19, https://www.thenews.com.pk/print/443643-growers-of-11-punjab-
districts-get-subsidy-on-cotton-seeds
21. Government pulls back subsidy offered to zero related sector.
Source: The news, 23/05/19, https://www.thenews.com.pk/print/474987-govt-decides-to-end-
subsidy-zero-rated-industry
22. Government plans to provide export industry with RLNG at $6.5 per MMBTU.
23. IMF puts pressure on govt. to not allow any subsidy of any kind.
24. 60% subsidy provided by Punjab govt. to promote irrigation.

Source: Business Recorder, 01/06/19, https://fp.brecorder.com/2019/06/20190601483027/
25. Government abolishes subsidy from Hajj packages.
Source: The News, 01/02/19, https://www.thenews.com.pk/latest/426057-hajj-price-increases-by-
over-60-govt-abolishes-subsidy
26. Govt. Hajj scheme expenditures reduce as rupee devalues.
Source: The News, 01/02/19, https://www.thenews.com.pk/latest/426057-hajj-price-increases-by-
over-60-govt-abolishes-subsidy
27. Gas subsidy provided by Pak Govt. to small bakers.
Source: ARY news, 31/07/19, https://arynews.tv/en/rs-1-billion-granted-as-roti-subsidy-on-gas-
for-small-bakers/
28. Govt. hopes gas subsidy to small bakers will reduce the price of ‘roti’.
for-small-bakers/
29. Govt. considers supply of gas to the villages of Hangu district.
for-small-bakers/
30. Government has approved Rs25 billion in supplementary grant for the key export sectors on
account of re-gasified liquefied natural gas (RLNG) supply at the concessionary rate of $6.5
per million British thermal units.
Source: Tribune, 28/07/19, https://tribune.com.pk/story/2022904/2-petroleum-division-seeks-
rs5-17b-rlng-subsidy/
31. Pak Govt. has approved a budgetary allocation of Rs25.7 billion in supplementary grant for
disbursement to the export-oriented sectors
32. The Finance Division, in its letter on May 24, 2019, pushed down the original allocation of
Rs25.7 billion to Rs16.9 billion
33. Fertilizer awaits pending subsidy of PKR 19 billion
Source: The News, 30/04/19, https://www.thenews.com.pk/print/465114-fertilizer-sector-awaits-
rs19-215b-subsidy-from-centre-for-three-years
34. Punjab govt. to sow cotton over 5.2 million acres to achieve PM’s target.
35. Punjab govt. launches cash voucher scheme for farmers.
36. Pak govt. set to withdraw agriculture subsidies ahead of IMF package.
Source: Dawn, 27/05/19, https://www.dawn.com/news/1484733
37. Farming is not highly profitable in Pakistan because of a lack of sufficient subsidies
38. Budget should provide 40% subsidy on pesticides to accommodate for price hikes say farmers.
39. Cost of production in agriculture sector likely to go up after removal of govt. subsidies.
40. Experts suggest Pakistan must subsidize educational institutes to increase literacy rates.
Source: Pakistan Today, 07/04/19, https://www.pakistantoday.com.pk/2019/04/07/subsidy-on-
education-must-for-better-literacy-rate/
41. Govt. is spending more on healthcare now.
Source: Business Recorder, 28/07/19, https://www.brecorder.com/2019/07/28/513402/govt-
spending-more-on-health-sector-for-providing-better-health-facilities-to-public-dr-zafar/
42. Enhanced taxation on cigarettes will promote its low use.
Source: Business Recorder, 28/07/19, https://www.brecorder.com/2019/07/28/513402/govt-
spending-more-on-health-sector-for-providing-better-health-facilities-to-public-dr-zafar/
43. Governments removes VAT from petroleum and its products.
Source: Business Recorder, 12/06/19, https://www.brecorder.com/2019/06/12/502132/salient-
features-of-sales-tax-fed/
44. 10% uniform tax to be introduced on various verities of milk.
45. Withdrawal of FED on internet services and foreign satellite bandwidth.
46. Pak govt. introduces FED tax on cement to increase it by PKR 0.5
47. Luxury items such as diamonds may be taxed by 1.5%
48. FED proposed on Cars from 0 to 1000cc at 2.5%, from 1001cc to 2000cc 5%, from 2001 cc and
above 7.5%.
49. Pak govt. increases sales Tax on Sugar from 8% to 17%
50. Rate of FED on aerated waters is proposed to be increased from 11.5% to 14%.

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24. 60% subsidy provided by Punjab govt. to promote irrigation.

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