Tag : PSDP

Islamabad: The total allocations for federal and provincial Public Sector Development Programme (PSDP) in Pakistan's budget 2022-2023, which was presented in the National Assembly on Friday, have gone down significantly from last year's budget. Notably, Pakistan's Finance Minister Miftah Ismail presented the budget for the fiscal year 2022-23 (FY23) in the National Assembly on Friday. Under this budget, federal PSDP makes up Rs 727 billion, which has gone down 19.2 per cent from last year's budgeted amount of Rs 900 billion. Moreover, the Provincial PSDP for FY23 has been allocated at Rs 1,432 billion, a decrease of 16 per cent from last year's budget of Rs 1,235 bn, reported Dawn. The passing of the budget this time in NA was less controversial as there was no opposition present in the House since former Prime Minister Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) members had tendered their resignations. While giving his speech in the NA, Ismail lashed out at Imran Khan's former government blaming it for the debilitating state of the country's economy. "An inexperienced team brought the country to the brink. Different people presented the budget every year presenting different policies which hurt investor sentiment," the finance minister said. Moreover, Prime Minister Shehbaz Sharif while taking to Twitter wrote, "These are difficult times brought upon us by recent years of economic mismanagement. Through this budget, my government will steer our way out of these challenges by taking tough decisions while minimising [the] impact on vulnerable segments of [the] population," he added. The key budgetary proposals were -- Minimum tax bracket for small business persons to be raised from Rs 0.4 million to Rs 0.6 million, Minimal taxable i ...