The Budget 2012 for fiscal year 2012-2013 is going to be announced on 1st June 2012. The Federal Budget 2012-2013 will be presented in the National Assembly by the Finance Minister of Pakistan Dr. Abdul Hafeez Sheikh on June 1st. In the History of Pakistan this will be the first time that the same democratic government will the present the National budget for the fifth time.
Prime Minister Syed Yusuf Raza Gilani declared that One lac jobs will be created in this new budget. It is stated that special measures will be adopted to combat with the energy crisis, construction of water reservoirs and important infrastructure across the country. These all new plans and proposals will be exposed in the speech of 1st June.
The budget of 2012-2013 is estimated with the outlay of Rs 3 Trillion which will be presented after its formal approval from the Federal cabinet. The government is ensuring that the this new budget will be a relief for the peoples of Pakistan in this situation of hiking prices.
Government officials claim that no new taxes will be imposed in this budget. It is also expected that there will be upto 20% increase in the salaries of the Government employee. HEC likely to get Rs48.5 billion in this budget.
Government is also claiming that there will be reduction in the price of crude oil products including Petrol and CNG. But recently (on 31st May 2012 at evening ) according to the news media these price reduction proposals are withdrawn. Now the actual myth about the prices of petroleum products will be revealed on 1st June.
Recently the decrement in the value if Rupee is having a mass impact on the Budget of this year.
Further details about the Budget 2012-2013 will be updated on the same page, so stay with us and keep visiting us. Share your thoughts about the budget in the comment section below.