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business
Friday Jun 12 2020
By
Web Desk

PTI’s strategy for Budget 2021

By
Web Desk

Faced with an unprecedented crisis due to the coronavirus pandemic and other challenges arising from the government's austerity measures in fiscal 2019-20, the PTI faces a delicate task in balancing its priorities in 2020-21.

The following will be its key areas of focus next fiscal year.

  • No new taxes were introduced in order to provide relief to the masses
  • Proposed tax concessions will prove effective in helping boost the economic activities
  • Striking a balance between corona expenditure and fiscal deficit
  • Keeping primary balance at sustainable level
  • Welfare expenses to be continued under the Ehsaas Programme for the society's poor and destitute
  • Successful continuation of IMF program
  • Assistance to people to provide cushion from effects of the corona to be continued in the next fiscal year as well
  • Keeping development budget at adequate level to inject economic growth
  • Pakistan's defence and internal security situation given satisfactory importance
  • Bringing improvement in the revenue collection without unnecessary revisions in taxes
  • Resources allocated for concessions to the construction sector, including Naya Pakistan Housing Scheme
  • Special funds allocated for special areas — that is erstwhile FATA, Azad Jammu and Kashmir, and Gilgit-Baltistan — to ensure the development and economic growth there
  • The special initiatives led by the prime minister like Kamyab Jawan, Sehat
  • Card, Billion tree Tsunami etc have also been protected
  • Austerity and rationalization of expenditures will be ensured
  • Subsidy regime will be rationalized to provide targeted subsidy to the deserving segments of the society.
  • NFC award will be revisited. Moreover, the provinces will be asked to fulfill its funding commitment made at the time of merger of erstwhile FATA