The budget of Pakistan for Year 2011~2012
Federal Budget of Pakistan for fiscal year 2011~2012 will be announced soon. This will be a budget of about 3.5 trillion Pakistani rupees while the budget of the current year 2010-2011 is Rs.3.259 trillion. Rs1.952 trillion tax revenue is estimated for the year 2011-12. Federal Finance Minister Abdul Hafeez Sheikh will present the budget in National Assembly, after detailed discussion and revisions in this budget; it will be approved by the assembly till the end of June 2011. GST will be replaced with Reformed General Sales Tax (RGST) and Tax on Assets will also be introduced instead of Wealth Tax.
Increase in Salaries of Government Employees
According to sources, salaries of government employees will not be increased this year but I do not agree with it and I think that the Government will increase salaries, however, increase may be very minor.
Public Suggestions for Budget
As everybody knows that it is the general public who suffers more from any new taxes and/or increase in the rate of existing taxes. Inflation also struck the public very badly especially salaried persons and unemployed persons. So, I want to know, that what are the expectations of readers of this article from the upcoming federal budget, which things they want to see in this budget and which things they want to change. You are most welcome to share your opinion!