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Tuesday, October 1, 2013

PETROL/ELECTRICITY PRICES RISE IN PAKISTAN


ISLAMABAD, Sept 30: The government announced on Monday a sharp increase in electricity tariff for domestic consumers across the country.
For one category of consumers, using 100 to 300 units a month, the increase will be by an unprecedented 210 per cent.
A senior official told Dawn that the government had spared people consuming less than 200 units per month.
According to him, the average tariff increase of 30pc will generate an additional revenue of Rs175 billion.
With this increase, the government has met a commitment made to the International Monetary Fund to jack up power tariff in two phases to reduce power subsidies by Rs396bn.
In the first phase power rates were increased on Aug 1 for commercial and industrial consumers.
The rates for ‘lifeline consumers’ using less than 50 units per month have been kept unchanged at Rs2 per unit. Likewise, the tariffs of Rs5.79 for 1-100 units and Rs8.11 for 101-200 units have also remained unchanged.
The government has allowed only one-slab benefit when consumption moves into the higher slab of above 300 units per month. The average increase is more than 35pc after including 17pc GST.
The tariff for 101-300 units per month has been increased by 72.6pc (Rs5.89 per unit) to Rs14.
Consumers in this category will not get the benefit of lower slab of Rs5.79 per unit and their electricity bills will effectively increase by almost 100pc.
For example, the monthly bill of a consumer of 300 units, which earlier stood at Rs3,436, will go up by 87.5pc to Rs6,442, including taxes.
The consumers in this category will be the hardest hit because they are in the lower income group, using two fans, a fridge, a television and a couple of lights.
The rates for the category consuming 301-700 units per month has been increased by about 30pc (Rs3.67 per unit) to Rs16 per unit.
This category will get the benefit of previous slab (101-300 units), but not of the first slab.
Hence, the effective increase for this category will be of more than 140pc.
The tariff for consumers of more than 700 units has been increased by 19.44pc to Rs18 from Rs15.07 per unit.
They will get the benefit of previous slab (301-700 units). They will be charged at Rs16 per unit for first 700 units and Rs18 for above 700 units.
According to an expert on matters relating to tariff, the monthly bill for consumers in the category of 100 to 300 units goes up by 210pc because they will not get the benefits of first three slabs.
The rates for sanctioned load of over 5 kilowatt and above have been raised by 29pc to Rs18 per unit for peak-hour consumption and for off-peak by 52pc, from Rs8.22 Rs12.50 per unit.
A senior official at the National Electric Power Regulatory Authority said the government appeared to have made a mistake by withdrawing the slab benefit to consumers in the category of 101-300 units.

Thursday, September 5, 2013

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Monday, August 26, 2013

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Thursday, June 13, 2013

Budget 2013-14 pakistan

Budget 2013-14 Pakistan

Govt unveils ‘business friendly’ budget for FY 2013-14


Total outlay for Federal Budget 2013-14 Rs3.5 trillion; fiscal deficit 6.3%; PSDP Rs1.155 trn; GDP growth rate projected at 4.8%; inflation 9.5%; revenue target set at Rs2.475 trn; defence allocation Rs 627 bn; Rs926 bn allocated for debt servicing; GST raised from 16 to 17 percent; Rs75 bn allocated for Income Support Programme; Pension up by 10%; minimum pension raised from Rs3000 to 5000; Rs225 bn for energy sector development.

The newly formed government of Pakistan Muslim League-Nawaz (PML-N) Wednesday unveiled what is being termed as ‘an investment and business friendly budget’ with a total outlay of Rs3.5 trillion for the financial year 2013-14.


Finance Minister, Senator Ishaq Dar presented the budget speech at the special session of the National Assembly convened by President Asif Ali Zardari for presenting proposals for Federal Budget 2013-14.
The budget envisages a record allocation of Rs1.155 trillion for Public Sector Development Program (PSDP) with an aim to stimulate the economy which presently depicts a bleak picture. A big chunk of Rs 225 billion will be spent on energy sector.
The first budget of Nawaz Sharif-led government has allocated Rs627 billion for FY 2013-14 defence compared to Rs570 billion for the preceding year.
Dar proposed an increase in General Sales Tax (GST) from 16 percent to 17, a decision which is going to further raise the prices of commodities for the people already battered by the worst price hike in the country.
As an austerity measure, Ishaq Dar proposed to bring down the expenditures of Prime Minister House by 45 percent, which he claimed will result in a national saving of Rs40 billion.
There will be a complete ban on purchase of new cars for Prime Minister’s office but the ban will not be applicable for law enforcement agencies and other inevitable requirements.
An increase of 10 percent has been proposed in the pension of retired government employees and the minimum monthly pension has been raised from Rs3000 to 5000.
The budget for next fiscal earmarks an amount of Rs75 billion under Income Support Program.
The tax exemption for luxury cars is proposed to be abolished while 1200 cc hybrid cars are being exempted form import duty. A concession of 50 percent has been proposed for 1200-1800 cc cars. Rs20,000 tax will also be applicable on the purchase of 1000 CC cars.
A withholding tax on wedding cermonies being held at commercial venues has also been proposed along with taxes on foreign movies and dramas. Taxes on cigarettes, pan and chahliya have also been increased.
GDP growth rate target for FY 2013-14 has been projected at 4.8 percent and revenue target at Rs2.475 trillion. The non-tax income will be Rs800 billion
The government has allocated Rs185 billion as power subsidy.
Ishaq Dar maintained that the circular debt amounting to more than Rs500 billion will be eliminated in 60 days.
The budget proposes to abolish the ministers’ discretionary funds.
The government will initiate a Prime Minister Laptop scheme in the days to come.
Customs duty on water filtration equipment is proposed to be decreased while the people’s works program renamed as Tamir-e-Watan Pakistan program.
Dar said that the auction for 3G technology will be held soon and the borrowing from the State Bank of Pakistan (SBP) will be reduced.
The rate of inflation will be kept under single digit and its targeted rate for FY 2013-14 has been fixed at 9.5 percent.
He said the government inherited a battered economy and the average rate of inflation stood at 13 percent in last five years.
Opposition members critical of Federal Budget   
Budget FY14: Defence spending up by 10pc to Rs627bn   
Budget FY14: PM decides not to use full strength of 49 ministers, Dar says   
Budget FY14: Rs295,518mn for 41 ministries, divisions   
Budget FY14: Laptop, ‘Qarz-e-Hasna’ schemes introduced   
Budget FY14: No new tax being imposed, says Ishaq Dar   
Budget FY14: Salient features of Public Sector Development Programme   
Budget FY14: Rs31bn earmarked for Railways   
Budget FY14: Rs125,658.646 million allocated for Planning Division   
Budget FY14: Government sets aside Rs25.7 billion for health services   
In the proposed budget for the fiscal year 2013-14, the newly elected Pakistan Muslim League-Nawaz (PML-N) government allocated Rs 240.434 billion for subsidies, which is 35 percent less than the amount earmarked for the purpose in the outgoing fiscal year.
The government has targeted this subsidy at the energy sector since Water and Power Development Authority (WAPDA) and Pakistan Electric Power Company (PEPCO) will get 68.7 percent of the total allocation followed by Karachi Electric Supply Company (KESC), which gets a share of 22.9 percent.
In budget estimates 2012-13, Rs 208.595 billion were proposed for subsidies, however, later in the revised budget, government had to increase subsidies to Rs 367.472 billion. 
A total estimate of subsidies for budget 2013-14 is around 0.92 percent of the country’s gross domestic product (GDP). 
According to breakup, Rs 165.1 billion has been earmarked for Inter Disco Tarrif Differential, Rs 3,000 million has been proposed for Tariff Differential for agri-tubewell in Balochistan and Rs 12,000 million has been allocated to increase WAPDA receivables from Federally Administered Tribal Areas (FATA).
In addition, Rs 100 million has been allocated for Exchange Rate Differential for USAID’s grant to power generation companies.
Similarly, a total of Rs 55,000 million has been allocated for KESC, while Rs 6,000 million has been allocated for Utility Store Corporation (USC). USC will spend Rs 2,000 million on the ‘Ramzan Package’ and Rs 4,000 million for the sale of sugar.
According to budgetary documents, Rs 9,000 million has been allocated for Pakistan Agricultural Storage and Services Corporation (PASSCO).
Of the 9,000 million, Rs 4,000 million would be spent on cost differential for sale of wheat while Rs 5,000 million for reserved wheat stock.
The budgetary document further stated that for the next fiscal year, an amount of Rs 4,000 million had been allocated for oil refineries and oil marketing companies, Rs 231 million for Fauji Fertilizer Bin Qasim Ltd, Rs 283 million for sale of wheat in FATA, Rs 815 million for sale of wheat in Gilgit-Balitistan and Rs 5 million has been fixed for sale of salt in Gilgit-Baltistan. 




Sunday, May 5, 2013

COACHING CLASSES FOR COMMERCE STUDENTS:


COACHING CLASSES FOR COMMERCE STUDENTS:
INTER COMMERCE
1ST YEAR 2ND YEAR
ACCOUNTING
BUSINESS MATHS , STATISTICS
ECONOMICS , BANKING
B.COM
PART 1 ACCOUNTING, ECONOMICS & STATISTICS .
PART 2 ADVANCED ACCOUNTING
O / A LEVELS
ACCOUNTS, ECONOMICS, BUSINESS STUDIES, PAKISTAN STUDIES & URDU.
ICMAP SEMESTER 1,2,3,4
PIPFA
ICAP MODULE B & D
CAT T1-T8
ACCA F1,F2,F3,F5,F8,P1,P7
MA-ECONOMICS
100 % RESULT IN 2011-2012
KHALID AZIZ
0322-3385752
R1173, ALNOOR SOCIETY, BLOCK 19, POWER HOUSE, F.B.AREA, KARACHI.

Tuesday, January 8, 2013

COACHING CLASSES FOR COMMERCE STUDENTS


COACHING CLASSES FOR COMMERCE STUDENTS:
INTER COMMERCE
1ST YEAR 2ND YEAR
ACCOUNTING
BUSINESS MATHS , STATISTICS
ECONOMICS , BANKING
B.COM
PART 1 ACCOUNTING, ECONOMICS & STATISTICS .
PART 2 ADVANCED ACCOUNTING
O / A LEVELS
ACCOUNTS, ECONOMICS, BUSINESS STUDIES, PAKISTAN STUDIES & URDU.
ICMAP STAGE 1,2,3,4
PIPFA
ICAP MODULE B & D
CAT T1-T8
ACCA F1,F2,F3,F5,F8,P1,P7
MA-ECONOMICS
100 % RESULT IN 2011-2012
KHALID AZIZ
0322-3385752
R1173, ALNOOR SOCIETY, BLOCK 19, POWER HOUSE, F.B.AREA, KARACHI.

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