A budget is a financial plan to control future operations and results.
Jae K. Shim
Everyone was excited about the annual budget because all the citizens hoped that the funding would come with happiness. Everyone was discussing and predicting the budget. Our T.V shows mostly had only one topic, Annual Budget. When the budget came up, some made a noise while some appreciated it. Now we will be discussing some key points of this budget. If you don’t know more about budget, you read this blog, and don’t forget to give your opinion in the comment box.
- Increases development budget Rs 900bn from 630bn.
- Rs 244bn are allocated for the construction of Gwadar Airport and Highway.
- Annual Budget of Punjab has been fixed at Rs500bn , Rs 310 for Sindh, Rs 133 for Balochistan, and Rs 248 for KPK.
- Rs 14bn are allocated for Neelum -Jehlum hydropower plant.
- Rs 16bn are allocated for Pakistan Steel Mills.
- Rs 100bn are allocated for the development of the unprivileged areas.
- Rs 20 lac will be provided in the low-interest loan for the low-cost housing program.
- Rs 12bn are allocated for SEM support programs.
- The growth target for the construction sector has been projected at 8.3 %.
- Rs601bn is allocated for 199 projects for the improvement of South Balochistan.
- Locally manufactured cars with an engine capacity of 850cc or less will be exempted from value-added tax (VAT), while the sales tax on these cars will also be reduced.
- Defense budget Rs1370bn are allocated for Defense
- Rs9 bn are allocated for education.
- A member of every ordinary family will be trained with technical education.
- In 2022, Government will allocate Rs5bn rupees for the census.
- Rs260bn will be earmarked for the Ehsaas program.
- 10 % increased in the salaries of goverment employees.
- 10 % increased in the pension of government employees.
- Rs 118bn are allocated for Power projects.
- Rs 20bn are allocated for Pakistan International Airlines.
- Rs 100bn for Covid-19 Emergency Fund.
- Rs 14bn for Cilmate change mitigation projects.
- Rs12 bn are allocated for agriculture sector.
Future Of Real Estate :
If we are talking about a number of houses in Pakistan, it is a bitter reality that Pakistan lacks 10 million homes. Home is a basic need of every citizen. But due to inflation and poverty, the working class can not buy or build a home. A few years back, people prefer to live together, but now, they want to live separately due to people’s different perspectives. When Imran Khan introduces the Naya Pakistan Housing Scheme, then citizens were so excited. Therefore they have shown interest in real estate. This year’s budget gave the Rs.20 lac loan for low-income families; they made their home and spent a better life. Due to which people come towards real estate. One more good advantage of citizens is that many extra taxes are removed, people can easily save money and investment. From this system, both real estate and people seem to be progressing. Now we can say that the future of real estate will be very bright.