ISLAMABAD: Following are the highlights of the Budget Speech for the financial year 2012-13 of Federal Finance Minister Dr Abdul Hafeez Shaikh in the National Assembly here on Friday:
* Total budget volume Rs2,960 billion.
* Gross ...
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Farrukh Saleem
ISLAMABAD: It had to be 10 percent budget and 90 percent drama — a drama with an internal and an external dimension. Internally, the government is left with only two resources: printing of notes and borrowing from banks. The external financial ...
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Muhammad Anis
ISLAMABAD: Minister for Finance Dr Abdul Hafeez Shaikh on Friday delivered his budget speech before Prime Minister Syed Yusuf Raza Gilani against a backdrop of complete chaos and pandemonium in the National Assembly, as sloganeering, a physical ...
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Mehtab Haider
ISLAMABAD: The government has proposed Rs184 billion subsidy for the power sector for the fiscal 2012-13 (July-June) against the revised estimated allocations of Rs464 billion in the outgoing fiscal year under this head, indicating that it plans a ...
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our correspondent
ISLAMABAD: While increasing reliance on indirect taxation, the government has proposed a net addition of Rs128 billion to achieve the highly ambitious FBR tax collection target of Rs2,381 billion set for fiscal year 2012-13.
Of Rs128 ...
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Ansar Abbasi
ISLAMABAD: In the outgoing year 2011-12, the Intelligence Bureau (IB), which in 2009 was accused of sparing Rs270 million from the secret fund for the PPP government to push the ruling party’s political agenda in the Punjab, has got from the public ...
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Shakil Shaikh
ISLAMABAD: Pakistan on Friday boosted its defence budget by 6.45 percent to Rs545.386 billion though it recorded around a 4 percent decrease of military spending in real terms for the next fiscal 2012-2013.
Compared to outgoing fiscal year’s ...
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Muhammad Qasim
ISLAMABAD: The federal government has allocated Rs7.485 billion for health affairs and services for the fiscal year 2012-13, 196.5 percent higher compared to the allocation in 2011-12 and 18 percent higher than the revised estimates for the year ...
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Asim Yasin
ISLAMABAD: As the country faces crippling economic pressures, rising unemployment and increasing daily burdens, the only relief that the budget seems to have provided is for the Presidency and Prime Minister House, the budgetary allocation of which ...
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our correspondent
ISLAMABAD: The government has incorporated the expenses related to the provision of security for President Asif Ali Zardari and Prime Minister Yusuf Raza Gilani in the Finance Bill 2012-13 after they relinquish their offices.
According to ...
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Sohail Khan
ISLAMABAD: The Supreme Court on Friday directed the federal government to submit a detailed report on the law and order situation in Balochistan by June 4. The court observed that as per the Constitution, the federation is bound to assist the ...
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Akhtar Amin
PESHAWAR: Dr Shakeel Afridi, who allegedly helped the CIA track down Osama bin Laden in Abbottabad, challenged his conviction in the court of Commissioner Frontier Crimes Regulation (FCR) here Friday.
On May 23, Assistant Political Agent ...
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Wajid Ali Syed
WASHINGTON: Pentagon has declared that there are no US trainers left in Pakistan, and just a couple of liaison officers have recently returned to Peshawar to coordinate with the Pakistani military.
Responding to questions regarding the ...
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our correspondent
LAHORE: Chief Minister Shahbaz Sharif said on Friday he had never made a demand to make Karachi a province and there was a mischief behind this proposal which he had exposed and now a conspiracy for the division of Sindh had come to the fore. He ...
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Murtaza Ali Shah
LONDON: Interior Minister Rehman Malik’s application to renounce his British nationality has been accepted by the Home Office and he is no longer a British national, The News can exclusively reveal.
Rehman Malik’s British citizenship was ...
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our correspondent
ISLMABAD: Justice Sheikh Azmat Saeed, Chief Justice Lahore High Court on Friday took oath as judge of the Supreme of Pakistan.
Chief Justice of Pakistan, Justice Iftikhar Muhammad Chaudhry, administered the oath of office to Justice Sh Azmat ...
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KARACHI: Foreign Minister of Iran Dr Ali Akbar Salehi called on President Asif Ali Zardari at Bilawal House here on Friday and extended invitation to the president to participate in the 16th NAM Summit to be held in Tehran in August 2012.
Dr ...
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