KARACHI: Sindh Chief Minister Syed Qaim Ali Shah on Friday presented Rs. 422 billion Sindh's Budget for the year 2010-11 before the Sindh Assembly.
The budget shows total revenue of Rs. 397 billion with a deficit of Rs 25 billion.
The Provincial ADP has been set at record Rs. 115 billion against the current year's allocation of Rs. 75 billion with an increase of 53 per cent.
Under the Benazir Youth Development Programme, some 60,000 youths have been imparted training in different trades in the last two years, said Syed Qaim Ali Shah, in his speech for the provincial budget.
He further pointed out that 20,000 youngsters are under training under the same programme. The Chief Minister added that 80,000 youths have received some training as well as stipends to facilitate temporary incomes.
He pointed out that an independent study shows over 27 per cent youths have become self-employed or gained employment from first batch of youngsters trained last year.
Qaim Ali Shah said that the World Bank has appreciated this programmes and shown confidence by committing dollars 16 million in the next year for this programme.
He stated that on technical training, STEVTA is finalising MOUs with a range of public and private sector organisations like Engro, TDAP, Hunar Foundation to set up high quality and demand driven technical training programmes in existing institutes.
Chief Minister said under Behan Benazir Basti Programme, 400 houses in Badin, Thatta and Karachi have been completed through UNDP.
As many as 10,000 houses for the poor are being constructed in the rural areas through Civil Society organisations, he added.
Qaim Ali Shah said that work on 4,300 houses is in different stages of completion.
He stated that the government has lifted ban on employment and by now government has provided more than 53,500 jobs through merit and in a transparent manner.
Sindh government has raised its budgetary allocation for health to Rs.16.9 billion for the fiscal year 2010- 2011 against Rs.5.7 billion in 2009-2010. Therefore, Rs.6.3 billion has been proposed under development of health sector and Rs.10.6 in its recurrent side.
Our future vision in the health sector is to integrate the preventive and primary health care at the basic health unit level, said the Chief Minister.
He announced that efforts will also be made to strengthen the secondary and tertiary health care facilities.
The government has included several schemes in Sindh budget for 2010-11 for the development of livestock and fisheries sector.
Sindh Chief Minister Syed Qaim Ali Shah, while presenting the budget speech in Sindh Assembly here Friday, said that the government will establish a dairy village over 1300 acres as a processing zone for meat animals at Bhambore, Thatta.
Similarly, Sindh Dairy and Meat Development Company has been launched to reach out to the small farmers with five or less animals with multiple services.
Major objective is to boost milk production and connect small farmers to credit and milk processing systems for raising their income.
Shah said that the government will set up floating jetties and land structure in Indus delta system.
Besides, modification of boats, provision of fishing gears and establishment of cold chain from landing site to Karachi will continue in next fiscal year, he added.
Sindh Government is proposing to reduce the rates of Stamp Duty on Conveyance Deed to 2% from the existing 3% to expand the net and facilitate greater documentation.
In this regard the Valuation Table of the immoveable Properties would be increased in accordance with prevalent inflation, Chief Minister Qaim Ali Shah said.
He said Stamp Duty is being reduced in favor of Real Estate Investment Trusts (REITs) and the end users so as to facilitate resource mobilization and investment through the vehicles of REIT in the formal sector.
This will help in fast track development of real estate and housing sectors, he said.
Stamp duty on Conveyance Deed to be reduced to two per cent from existing three per cent and Registration to be reduced from one per cent to 0.5 per cent. He said Stamp Duty is being proposed to be reduced on some financial instruments (Participation Term Certificate, Term Finance Certificate and Commercial Papers) to harmonize the rates with the rates of Islamabad and Punjab. This would help documentation of these financial instruments in Sindh which would produce a positive effect in the economic activities.
The Chief Minister said it is proposed to increase the exemption limit of annual value for assessment of Property Tax in respect of properties owned by widows, minor orphans, permanently disabled persons from the existing limit of Rs. 24,000 to Rs. 48,000.
This would be a relief to widows, minor orphans and disabled persons, he stated.
Concluding his speech, the Chief Minister described this post-NFC year a landmark period and said we are taking this opportunity to embark on a new path.
He pointed out that water use efficiency will boost agricultural output, coal will provide abundant energy, the high-speed highway network will create rapid connectivity to markets, and improved education will produce educated and skilled manpower.
We are laying the foundation of a new era. If Sindh follows this path for the next 5 to 7 years, we would have transformed our economic base into a modern, efficient and competitive arena for investors.He pointed out that today workers are searching for jobs at any wage. Let us all work for the day when investors will be offering higher wages in search for workers. That would be the day when we can all stand proud for having fulfilled the cause for which our great leaders laid their lives. This would be our tribute to Shaheed Zulfiqar Ali Bhutto and Mohtarma Shaheed Benazir Bhutto, he announced.
http://www.dawn.com/wps/wcm/connect...inister-sindh-presents-rs-422-bn-budget-jd-05
The budget shows total revenue of Rs. 397 billion with a deficit of Rs 25 billion.
The Provincial ADP has been set at record Rs. 115 billion against the current year's allocation of Rs. 75 billion with an increase of 53 per cent.
Under the Benazir Youth Development Programme, some 60,000 youths have been imparted training in different trades in the last two years, said Syed Qaim Ali Shah, in his speech for the provincial budget.
He further pointed out that 20,000 youngsters are under training under the same programme. The Chief Minister added that 80,000 youths have received some training as well as stipends to facilitate temporary incomes.
He pointed out that an independent study shows over 27 per cent youths have become self-employed or gained employment from first batch of youngsters trained last year.
Qaim Ali Shah said that the World Bank has appreciated this programmes and shown confidence by committing dollars 16 million in the next year for this programme.
He stated that on technical training, STEVTA is finalising MOUs with a range of public and private sector organisations like Engro, TDAP, Hunar Foundation to set up high quality and demand driven technical training programmes in existing institutes.
Chief Minister said under Behan Benazir Basti Programme, 400 houses in Badin, Thatta and Karachi have been completed through UNDP.
As many as 10,000 houses for the poor are being constructed in the rural areas through Civil Society organisations, he added.
Qaim Ali Shah said that work on 4,300 houses is in different stages of completion.
He stated that the government has lifted ban on employment and by now government has provided more than 53,500 jobs through merit and in a transparent manner.
Sindh government has raised its budgetary allocation for health to Rs.16.9 billion for the fiscal year 2010- 2011 against Rs.5.7 billion in 2009-2010. Therefore, Rs.6.3 billion has been proposed under development of health sector and Rs.10.6 in its recurrent side.
Our future vision in the health sector is to integrate the preventive and primary health care at the basic health unit level, said the Chief Minister.
He announced that efforts will also be made to strengthen the secondary and tertiary health care facilities.
The government has included several schemes in Sindh budget for 2010-11 for the development of livestock and fisheries sector.
Sindh Chief Minister Syed Qaim Ali Shah, while presenting the budget speech in Sindh Assembly here Friday, said that the government will establish a dairy village over 1300 acres as a processing zone for meat animals at Bhambore, Thatta.
Similarly, Sindh Dairy and Meat Development Company has been launched to reach out to the small farmers with five or less animals with multiple services.
Major objective is to boost milk production and connect small farmers to credit and milk processing systems for raising their income.
Shah said that the government will set up floating jetties and land structure in Indus delta system.
Besides, modification of boats, provision of fishing gears and establishment of cold chain from landing site to Karachi will continue in next fiscal year, he added.
Sindh Government is proposing to reduce the rates of Stamp Duty on Conveyance Deed to 2% from the existing 3% to expand the net and facilitate greater documentation.
In this regard the Valuation Table of the immoveable Properties would be increased in accordance with prevalent inflation, Chief Minister Qaim Ali Shah said.
He said Stamp Duty is being reduced in favor of Real Estate Investment Trusts (REITs) and the end users so as to facilitate resource mobilization and investment through the vehicles of REIT in the formal sector.
This will help in fast track development of real estate and housing sectors, he said.
Stamp duty on Conveyance Deed to be reduced to two per cent from existing three per cent and Registration to be reduced from one per cent to 0.5 per cent. He said Stamp Duty is being proposed to be reduced on some financial instruments (Participation Term Certificate, Term Finance Certificate and Commercial Papers) to harmonize the rates with the rates of Islamabad and Punjab. This would help documentation of these financial instruments in Sindh which would produce a positive effect in the economic activities.
The Chief Minister said it is proposed to increase the exemption limit of annual value for assessment of Property Tax in respect of properties owned by widows, minor orphans, permanently disabled persons from the existing limit of Rs. 24,000 to Rs. 48,000.
This would be a relief to widows, minor orphans and disabled persons, he stated.
Concluding his speech, the Chief Minister described this post-NFC year a landmark period and said we are taking this opportunity to embark on a new path.
He pointed out that water use efficiency will boost agricultural output, coal will provide abundant energy, the high-speed highway network will create rapid connectivity to markets, and improved education will produce educated and skilled manpower.
We are laying the foundation of a new era. If Sindh follows this path for the next 5 to 7 years, we would have transformed our economic base into a modern, efficient and competitive arena for investors.He pointed out that today workers are searching for jobs at any wage. Let us all work for the day when investors will be offering higher wages in search for workers. That would be the day when we can all stand proud for having fulfilled the cause for which our great leaders laid their lives. This would be our tribute to Shaheed Zulfiqar Ali Bhutto and Mohtarma Shaheed Benazir Bhutto, he announced.
http://www.dawn.com/wps/wcm/connect...inister-sindh-presents-rs-422-bn-budget-jd-05
