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POST BUDGET SEMINAR 2010

The Income Tax Bar Association Karachi. POST BUDGET SEMINAR 2010. Presenter : Syed Masoud Ali Naqvi. Impact of Budget on Economy. Marriott Hotel, Karachi. Monday, 7 June 2010. Impact of Budget on Economy. Budget at a glance. Impact of Budget on Economy. Budget at a glance.

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POST BUDGET SEMINAR 2010

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  1. The Income Tax Bar Association Karachi POST BUDGET SEMINAR 2010 Presenter : Syed Masoud Ali Naqvi Impact of Budget on Economy Marriott Hotel, Karachi. Monday, 7 June 2010

  2. Impact of Budget on Economy Budget at a glance

  3. Impact of Budget on Economy Budget at a glance

  4. Impact of Budget on Economy Provide protection to poor and vulnerable against the current economic downturn. Revive manufacturing and industry, especially export oriented industry. Key Objectives Broaden tax base, instead of overburdening the existing tax payer. Restrain unnecessary imports to improve the Balance of payments position. Key objectives for the Budget 2009-10

  5. Impact of Budget on Economy Economic Analysis

  6. Impact of Budget on Economy Economic Analysis

  7. Impact of Budget on Economy Economic Analysis

  8. Impact of Budget on Economy Economic Analysis

  9. Impact of Budget on Economy Economic Analysis

  10. Impact of Budget on Economy Economic Analysis

  11. Impact of Budget on Economy Economic Analysis

  12. Impact of Budget on Economy Economic Analysis

  13. Impact of Budget on Economy Economic Analysis

  14. Impact of Budget on Economy Economic Analysis

  15. Impact of Budget on Economy Economic Analysis

  16. Impact of Budget on Economy Economic Analysis

  17. Impact of Budget on Economy Economic Analysis

  18. Impact of Budget on Economy Economic Analysis

  19. Impact of Budget on Economy Economic Analysis

  20. Impact of Budget on Economy Economic Analysis Subsidies (Rupees in Billions)

  21. Impact of Budget on Economy Budget for a ‘Common Man’ Key Drivers Welfare of the people Reduce inequity of distribution of resources and income Reduce unemployment and create more jobs Target reduction of Poverty Focus on Agriculture value addition, productivity and research Rationalize subsidies Skills development Improve Tax GDP ratio Direct cash transfers Induce growth of manufacturing sector and productivity improvement Micro-finance reach Enhance social sector allocations Skills Development And Training Provide quality health and other services at affordable costs Inflation target

  22. Impact of Budget on Economy Common Man’s Perception of Economic Development • Food at affordable prices • Health support on efficient basis • Housing and shelter • Access to utilities (water, power, gas, telephone) on consistent basis at affordable cost • Education • Good quality at low costs • Aligned to required skills and vocational development demand • Employment opportunities – Massive investment in human capital • Freedom of access to information • Value for contribution to federal, provincial and local revenue • Potential for vertical migration in terms of quality of life and a mechanism to balance consumption and savings • Good governance

  23. Impact of Budget on Economy Common Man’s Perception of Economic Development • Inflation • Supply side planning and reforms • Balance between consumption and savings • Strengthening of direct government intervention • Import Substitution • Growth to be inclusive • Inequality • Ensuring efficiency and productive utilization of PSDP • Accelerated focus on Social sector • Social Sector • Reallocation of resources from general administration, defence; etc. • Raise revenue from Financial Services and other Profitable Sector like trading etc. for direct transfer to social sector to be managed by an independent representative body • MDG’s to be real goals rather than compliance of commitments. These goals should be dynamic and progressive

  24. Impact of Budget on Economy Key objectives for the Budget 2010-11

  25. Impact of Budget on Economy Challenges • Marshal plan for improvement of Governance • Sustainability of growth momentum • Addressing structural problems in energy, agriculture and exports sector • Job creation • Poverty alleviation • Improving social indicators and enhancement of efficiency of safety nets • Strengthening of physical infrastructure • Converting the demographic transitions into demographic dividend • Leverage the current strategic role in achieving meaningful economic dividends • Supply side improvement to match growing domestic demand • Achieve political stability and institutional strengthening • Harmonious relationship amongst Federation and its units • Equitable distribution of resources between Federal, Provincial and Local governments • Revenue generation by provinces • Balanced approach of combination of Fiscal and Monetary Policy measures to combat inflation • Containment of exposure to war on terror

  26. Impact of Budget on Economy THANKYOU !

  27. Impact of Budget on Economy Presenter’s contact details SYED MASOUD ALI NAQVI Country Senior Partner KPMG Taseer Hadi & Co. +92 (21) 3568 5847 mnaqvi@kpmg.com www.kpmg.com.pk

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