DINA for the issue of June 13, 2013

	Thursday 13th June 2013 | Sha'ban 3, 1434
The DAWN Internet News Alert (DINA) is a free daily news service from Pakistan’s largest English language newspaper, the Daily DAWN.
Bid to grapple with economic mess: • Plan to ‘settle’ Rs500bn circular debt in 60 days • Defence spending increased to Rs627bn • Growth target set at 4.4pc • Pensions up by 10pc • 2012-13 budget deficit put at 8.8pc of GDP Khaleeq Kiani ISLAMABAD, June 12: The PML-N government unveiled on Wednesday its first budget which tried to tackle the economic and energy mess the country is facing with ambitious moves on revenue expansion, expenditure cuts and populist incentives for the youth and business.	For suggestions and comments: Email: webmaster@dawn.com Website: http://dawn.com Fax: +92(21) 35693995 Karachi Stocks Up 212.66 Points KARACHI, June 12: At the close of trading, the KSE-100 index was at 22324.57, up 115.50 points. Forex Update : KARACHI, June 12: The Pakistani Rupee was traded at 99.9 to the US Dollar in the open market.
Presidency, PM Secretariat expenses cut Syed Irfan Raza ISLAMABAD, June 12: In line with the government’s austerity measures, expenses of President House and Prime Minister’s Secretariat (PMS) have been reduced drastically while discretionary funds of ministers have been withdrawn. Finance Minister Ishaq Dar said in his budget speech that expenses of the PMS had been slashed down from Rs725 million to Rs396m.
• GST raised by 1pc • Cut in corporate tax proposed: New taxes to yield Rs209bn Mubarak Zeb Khan ISLAMABAD, June 12: Taxation proposals in the budget appear to have been dictated by political considerations. The focus of tax proposals is to facilitate industrialists – one of the PML-N’s key support groups – rather than ordinary citizens. For instance, the increase in the rate of sales tax from 16 to 17 per cent will affect the poor the most because it will fuel inflation.
Army officer killed in Tirah valley blast IBRAHIM SHINWARI LANDI KOTAL: A lieutenant colonel of Pakistan Army was killed when he stepped over an explosive device during a search operation in Tirah valley of Khyber Agency on Wednesday. The ISPR (Inter-Services Public Relations) said in a statement that Lt Col Sajid Mushtaq was leading an operation to clear the Gulbai area of Maidan when an improvised explosive device exploded in a house. Lt Col Mushtaq died on the spot.
A budget and a wish Khurram Husain SOMETHING strange happened in the budget announcement on Wednesday evening. Where everybody was expecting the government to announce a deficit of 7.5 per cent of GDP for the current fiscal year, Finance Minister Ishaq Dar instead announced the deficit at 8.8pc.
Energy, roads to consume much of Rs1.15tr PSDP Our Staff Reporter ISLAMABAD, June 12: The government on Wednesday announced the highest-ever development budget of Rs1.15 trillion for 2013-14 with major emphasis on the energy sector and a road network programme to implement its manifesto focusing on overcoming unprecedented electricity loadshedding and laying network of inter-provincial highways. Of a total outlay of Rs1.15tr for the Public Sector Development Programme (PSDP), the federal share is Rs540 billion and Rs615bn has been allocated for provincial uplift schemes.
Provinces to get Rs1.5tr Khawar Ghumman ISLAMABAD, June 12: The federal government will provide Rs1.5 trillion to the provinces during the next financial year as their share in the federal taxes, budget documents reveal. This means a significant expansion in the federal divisible pool, from last year’s Rs1.2tr to Rs1.5tr, despite the poor economic indicators.
Defence expenditure raised by 15pc Baqir Sajjad Syed ISLAMABAD, June 12: Defence expenditure in the next fiscal year will increase by over 15 per cent to Rs627 billion The budget documents for fiscal year 2013-14 placed before the National Assembly showed that a sum of Rs627bn had been allocated for the defence services as compared to Rs545bn originally allocated for the outgoing fiscal year, which ends on June 30. The Rs545bn figure was, however, revised to Rs570.18bn in the budget unveiled on Wednesday.
BISP renamed; allocation raised by 87pc Imran Ali Teepu ISLAMABAD: The government has renamed the Benazir Income Support Programme as the Income Support Programme and increased its allocation by 87.5 per cent to Rs75 billion (from Rs40bn) for the fiscal year 2013-14. Over the past few weeks there have been reports that the PML-N government will reduce the size of the programme and also rename it.
Omission of Benazir’s name sparks protest RAJA ASGHAR ISLAMABAD: In an apparent bias and legal deviation, new Finance Minister Ishaq Dar, in his budget speech on Wednesday, deleted the name of assassinated former prime minister Benazir Bhutto from the title of an income support programme for millions of poor, provoking the first protest in the new National Assembly by the opposition Pakistan People’s Party (PPP). But the minister’s assurance that what he repeatedly described as the Income Support Programme – instead of the Benazir Income Support Programme (BISP) launched by the previous PPP-led coalition government to give Rs1,000 monthly to a poor family – would be continued and expanded could not satisfy the protesters, who briefly interrupted his speech to insist that the programme be described by actual name, as given in an act of parliament.
Govt official kidnapped Our Staff Correspondent QUETTA, June 12: Armed men kidnapped a senior official of food department at gunpoint in Dera Murad Jamali on Wednesday. Police said the armed men barged into the house of Faiz Mohammad, a district food controller, and took him away at gunpoint.
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