{"id":81962,"date":"2021-12-03T15:13:53","date_gmt":"2021-12-03T10:13:53","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=81962"},"modified":"2021-12-03T15:13:57","modified_gmt":"2021-12-03T10:13:57","slug":"govt-pkr-600-bn-budgetary-adjustments","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-pkr-600-bn-budgetary-adjustments.html","title":{"rendered":"Govt to introduce PKR 600 bn budgetary adjustments"},"content":{"rendered":"\n<p>Islamabad: The government has finalised a mini-budget with monetary adjustments and expense reduction worth PKR 600 billion following a <a href=\"https:\/\/www.zameen.com\/news\/govt-imf-staff-level-agreement-extended-fund-facility.html\" data-type=\"post\" data-id=\"81629\" target=\"_blank\" rel=\"noreferrer noopener\">staff-level agreement with the International Monetary Fund (IMF)<\/a>, news sources reported. The proposed budget will cut the Public Sector Development Programme by PKR 200 billion and raise taxes to put more money into the national exchequer.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-tax-revenue-first-5-months-fy-22.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR exceeds tax revenue targets in first 5 months of FY-22<\/a><\/p>\n\n\n\n<p>According to the details, the government has chosen to restore PKR 350 billion in taxes for the current fiscal year, as opposed to the IMF&#8217;s demand of PKR 700 billion. The administration has chosen to maintain the tax exemption on food, fertiliser, and pesticides. Other provisions contained in the mini-budget include the following:&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A 90% increase in real estate <a href=\"https:\/\/www.zameen.com\/news\/fbr-revises-valuations-rates-for-immovable-property-in-khi.html\" data-type=\"post\" data-id=\"81942\" target=\"_blank\" rel=\"noreferrer noopener\">valuation and taxes in 40 major cities<\/a>\u00a0<\/li><li>Imposition of regulatory duty on the import of electric vehicles to reduce the import burden<\/li><li>Increase across the board tariff on complete built unit (CBU) vehicles of all types, however, the imposition of federal excise duty on Semi Knocked Down (SKD) and Complete Knocked Down (CKD) units is still under consideration.\u00a0\u00a0<\/li><li>Imposition of tax on 525 non-essential import items\u00a0\u00a0\u00a0<\/li><\/ul>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/govt-imf-staff-level-agreement-extended-fund-facility.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt, IMF reach staff-level agreement for revival of Extended Fund Facility<\/a><\/p>\n\n\n\n<p>Furthermore, it was reported that the final text of the budget bill is now in the law division and will be presented to the National Assembly when the terms of the bill have been vetted. It is worth noting that the new budget would undo the government&#8217;s economic stimulus plan, which was announced in the main budget in June of this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The government has finalised a mini-budget with monetary adjustments and expense reduction worth PKR 600 billion following a staff-level agreement with the International Monetary Fund (IMF), news sources reported. The proposed budget will cut the Public Sector Development Programme by PKR 200 billion and raise taxes to put more money into the national exchequer.\u00a0 Read: FBR exceeds tax revenue targets in first 5 months of FY-22 According to the details, the government has chosen to restore PKR 350 billion in taxes for the current fiscal year, as opposed to the IMF&#8217;s demand of PKR 700 billion. The administration has chosen to maintain the tax exemption on food, fertiliser, and pesticides. Other provisions contained in the mini-budget include the following:&nbsp;&nbsp; A 90% increase in real estate valuation and taxes in 40 major cities\u00a0 Imposition of regulatory duty on the import of electric vehicles to reduce the import burden Increase across the board tariff on complete built unit (CBU) vehicles of all types, however, the imposition of federal excise duty on Semi Knocked Down (SKD) and Complete Knocked Down (CKD) units is still under consideration.\u00a0\u00a0 Imposition of tax on 525 non-essential import items\u00a0\u00a0\u00a0 Read: Govt, IMF reach staff-level agreement for revival&hellip;<\/p>\n","protected":false},"author":84,"featured_media":77671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[49857,49858,49860,49859],"persona":[],"class_list":{"0":"post-81962","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-govt-to-introduce-pkr-600-bn-worth-budgetary-adjustments","9":"tag-mini-budget-pakistan","10":"tag-pm-imran","11":"tag-shaukat-tareen","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt to introduce PKR 600 bn budgetary adjustments - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The government has finalised a mini-budget with monetary adjustments and expense reduction worth PKR 600 billion following a staff-level\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-pkr-600-bn-budgetary-adjustments.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt to introduce PKR 600 bn budgetary adjustments - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The government has finalised a mini-budget with monetary adjustments and expense reduction worth PKR 600 billion following a staff-level\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-pkr-600-bn-budgetary-adjustments.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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