Govt cuts development budget by Rs100 bn

[Durrak]

KARACHI: Government has blatantly slashed development budget allocated for greater good of the public by Rs100 billion but left untouched the project of constructing luxurious building within parliament lodges to be completed at a jaw dropping cost of Rs3 billion.Addressing the business community at Federation of Pakistan Chamber of Commerce Industry (FPCCI), Finance Minister Abdul Hafeez Shaikh said the country was facing multiple challenges of rising oil prices, dire impact of floods on economy and deteriorating law and order situation.“The development budget has been reduced from Rs280 billion to Rs180 billion and more curtailment in expenditures will be made in the coming days,” he announced, adding government expenditures will also be slashed.He said the rising international oil prices pose a real threat to the country’s economy. The oil prices that stood at 70 dollars per barrel in February last year have now surged to the level of 100 dollars, he pointed out.This trend, the Finance Minister said, would adversely impact our inflation and balance of payment, adding that increase in oil prices was the last thing that the government wanted but, unfortunately, they were not in government’s control.

 

[Tayyab1796]

Thank you my brethren for electing such NROed leaders ...

 

[Evil Flare]

Democracy is Failed in Pakistan .. Try something new

 

[Parashuram1]

Democracy is Failed in Pakistan .. Try something new

Please do not blame a democratic system if a few of your leaders are inefficient. The democratic system gives you the freedom to replace them. Now imagine if your current ruler was an absolutist dictator like Kim Jong Il, and did this all for himself, what could you do? Nothing.

In democracy, you can replace this person through voting. I agree that democracy is slower but the percentage of risk ending up as a prison state is lesser than the other possibility of authoritarian rule where the chances of getting good or facing bad become 50-50 depending on what is that dictator's personality.

 

[ares]

What else will govt suppose to do?..when it is not being allowed to levy taxes or increase prices..it can either cut its spending and or print more money ...looks like they are trying to balance the both..development budget is only the first step ..if situation deteriorates it will have cut other non development(non productive budgets) like defence, health, education etc.

 

[Last Hope]

Lets have a look at it. If the budget is spent, then Government is goona get nothing. If it is cut off, then it would be used to fil the pockets of officials.

Development is needed more than water in Pakistan now. But these great men would rather use the money to run their family than country.

Someone said it right 'Lalach buri bla hai', in this scenario, haulting a country's development, which means just pressing the neck of the Nation.

Even my words are proving to be true:
'Pakistan is being run, and represented by worst'

 

[flameboard]

Democracy is Failed in Pakistan .. Try something new

If you're so tired of democracy, go to Africa I'm sure you can find a nice dictatorship to live under.

It's not democracy that has failed but it the PPP that has.

 

[ajpirzada]

it was quite expected.... and btw this news is not new. its a repeat of what has been mentioned before...

and why blame the govt.?

after all we dont want govt to raise oil prices despite them rising in the international market.
after all we dont want govt to reform tax system.
after all we dont want govt to remove subsidies.

while we have other significant expenditures in the form of war on terror and floods.

where else do we ppl think will all this extra money come from? development expenditure, obviously.

yes, lodges should not be built. yes, austerity should be adopted. but that will only save you peanuts.

 

[IceCold]

If the government can just cut a little in its corruption and that huge list of no good ministers eating away the resources, we would not be needing to cut anything. Why should people bare all the brunt. Fuel prices are already very high in Pakistan. What do they expect more, ordinary people to run bicycles while the elites roam in BMWs and Mercedes. This government needs to go.

 

[IceCold]

If you're so tired of democracy, go to Africa I'm sure you can find a nice dictatorship to live under.

It's not democracy that has failed but it the PPP that has.

The problem with democracy here is that people are not educated enough to understand the difference between good and bad. They cast vote based on feudal system and cast and not on merits. This is exactly why we see the same faces after every 4-5 years. I am not exactly favoring the army rule since that has its own set of problems but democracy alone is not for us. We need a different system, something similar to Turkey.

 

[Hasnain2009]

Guys its not the first time, origanally planned development budget was near 600billion now u can see what we have got finally !

 

[iPhone]

after all we dont want govt to reform tax system[\quote]

I don't think that's true. People in general want a fair tax system implemented across the board, it could be some influential people (industrialists, big polticians and other elites) creating hurdles so they don't have to pay millions and possibly billions in taxes. As a result of this selfish myopic attitude the tax rate in the country is a laughable and pitiful 1%.

 

[IceCold]

after all we dont want govt to reform tax system[\quote]

I don't think that's true. People in general want a fair tax system implemented across the board, it could be some influential people (industrialists, big polticians and other elites) creating hurdles so they don't have to pay millions and possibly billions in taxes. As a result of this selfish myopic attitude the tax rate in the country is a laughable and pitiful 1%.

To add to this only the salaried individuals have tax deduction from their salary. What are the politicians doing. I think they should make an example by stepping forward and paying all the taxes and then tell the nation its your turn. Simply by imposing taxing on the nation isnt gonna cut it.

 

[Karachiite]

Zardari ***** hai hai!