Latest news with #BenazirIncomeSupportProgramme
Business Recorder
5 hours ago
- Politics
- Business Recorder
BISP Chairperson visits Swat to honour Hilal Khan
PESHAWAR: Chairperson Benazir Income Support Programme (BISP), Senator Rubina Khalid, visited Swat on Sunday on the special directions of President Asif Ali Zardari and Chairman Pakistan People's Party (PPP), Bilawal Bhutto Zardari, to meet Hilal Khan, the brave volunteer who risked his life to save people during the recent Swat River tragedy. The visit came two days after the tragic incident in Swat, where 14 members of a tourist family from Sialkot were swept away by a sudden flash flood in the river while having breakfast, after being stranded for almost two hours. With official rescue teams failing to respond in time, Hilal Khan jumped into action. Using a makeshift boat, he fought the strong currents of the river and tried to save as many lives as possible. He managed to rescue a couple of family members and later helped fished out the bodies of those who drowned, returning them to their grieving families. Senator Rubina Khalid praised Hilal Khan for his bravery and humanity. 'Hilal Khan is the face of humanity. He acted when it mattered most,' she said. 'His courage and selfless service are an inspiration for the entire nation. Heroes like Hilal are the pride of Pakistan. Saving one life is like saving all of humanity.' Speaking to the people of Swat, Senator Rubina Khalid said that President Zardari and Chairman Bilawal Bhutto Zardari were deeply moved by Hilal Khan's bravery. They instructed her to meet him personally, offer support, and assess how the Sindh Government could help strengthen local volunteer rescue efforts in Swat region. Senator Rubina Khalid announced that the Sindh Government would provide equipment and resources to local volunteers to support future rescue operations. She also contributed Rs. 100,000 from her own pocket to Hilal Khan to help him and fellow volunteers purchase basic rescue equipment. 'This is a small personal contribution to the cause of volunteerism in Swat,' she concluded. Copyright Business Recorder, 2025
Express Tribune
13 hours ago
- Business
- Express Tribune
PPP likely to join Centre as power-sharing talks advance
Listen to article After extending crucial support to the federal budget, the Pakistan Peoples Party (PPP) is expected to formally join the federal government in July, with the distribution of ministries likely to be finalised next month, sources told Express News. The move comes after weeks of tension between the PPP and the ruling Paksitan Muslim League (PML-N) over budget allocations and controversial tax measures, which had prompted strong criticism from the PPP. The party had accused the government of sidelining Sindh and threatened to withhold support for the budget unless its demands were addressed. However, the deadlock eased when the government agreed to a number of key concessions, including a 20% increase in the Benazir Income Support Programme (BISP) budget and the rollback of proposed powers for the Federal Board of Revenue (FBR) to arrest taxpayers without warrants. Read More: Bilawal explains why PPP supports federal budget Addressing the National Assembly on Thursday, PPP Chairperson Bilawal Bhutto Zardari had said his party would support the federal budget after the government accepted its demands to raise the BISP allocation to Rs716 billion, exempt income tax for salaried individuals earning up to Rs100,000, and reduce sales tax on solar panels. Sources familiar with the negotiations say the PPP's budget support has paved the way for a broader power-sharing arrangement with the PML-N, brokered in part by the establishment. They added that the establishment had assured PPP leadership there would be no change in government and that political continuity was essential for national stability. 'The message was clear: the system must continue — and it will,' a source close to the talks said. Efforts are also underway to bring other political forces on board as part of a larger consensus-building initiative. In the next phase, the PPP is expected to become part of the Punjab government, sources said. Backchannel talks between the two parties are already in progress, though a final agreement has yet to be reached.
Express Tribune
3 days ago
- Business
- Express Tribune
Bilawal explains why PPP supports federal budget
Pakistan People's Party (PPP) Chairman Bilawal Bhutto Zardari on Thursday outlined his party's reasons for supporting the PML-N-led ruling coalition's second budget, saying key amendments were made based on PPP's input. Addressing the National Assembly ahead of the budget's passage, Bilawal explained why the PPP Parliamentarians – a major coalition partner – had decided to back the finance bill, despite earlier objections. The PPP's support comes just days after it strongly criticized the federal budget, accusing the government of discriminating against Sindh and threatening to boycott the approval process. A similar standoff occurred last year between the PPP and the PML-N, which the PTI had described as a "fixed fight" meant to deflect public scrutiny. Nevertheless, things remained largely calm between the PPP and the PML-N during this year's budget session. In his speech, Bilawal noted that the government had increased funding for the Benazir Income Support Programme (BISP), a welfare scheme introduced by his mother & former premier Benazir Bhutto, by 20 per cent. The PPP leader criticized the previous PTI government for attempting to undermine BISP in every budget and commended the incumbent Prime Minister Shehbaz Sharif for consistently increasing its funding since assuming office. The PPP chairman further noted that the government raised the income threshold for tax exemption from Rs600,000 to Rs1.2 million annually. Additionally, he highlighted that the tax on solar panels was reduced from 18 per cent to 10 per cent following objections raised by PPP members. Bilawal also welcomed the decision to curtail the Federal Board of Revenue (FBR)'s arrest powers. Under the new policy, arrests in tax cases can now only be made in instances of proven fraud and not at the inquiry stage. Moreover, such offences have been declared bailable. "These are the reasons why the PPP is supporting this budget," he said. Earlier, the PPP chairman chaired a meeting of PPP parliamentary party, attended by all PPP lawmakers. During the session, PPP members briefed Bilawal on their proposals regarding the federal budget. He was also informed about the amendments incorporated into the budget as a result of PPP's input. Bilawal was given a detailed briefing on the acceptance of the party's demand for a 20% increase in the budget of the BISP program, a party statement said, adding he was also apprised that the tax on solar panels has been slashed by nearly 50% in response to PPP's consistent advocacy. Bilawal was also informed about how the government withdrew the controversial amendments related to FBR's powers to arrest owing to PPP's strong reservations. On PPP's suggestion, the PPP lawmakers were told that the federal budget now includes a 10% increase in government salaries and a 7% rise in pensions. Moreover, PPP legislators were briefed that the party secured complete income tax exemption for salaried individuals earning up to Rs100,000 per month. Another key achievement highlighted during the briefing was the restoration of budgetary allocations for universities in Sindh following PPP's demand.
Express Tribune
5 days ago
- Business
- Express Tribune
Poverty alleviation: what really makes a difference?
Listen to article Poverty headcount in Pakistan has risen to 44.7% as per updated poverty line for lower income countries, according to a recent World Bank report. This means 108 million people have been pushed below the poverty threshold. Poverty remains one of most pressing challenges, despite decades of economic reforms and policy efforts aimed at improving living standards. The real question is: what truly drives meaningful change? There are specific factors which, if prioritised by the state, have the potential to make a significant difference. Education proves to be one of the most influential contributors to poverty alleviation and welfare improvement. Education not only increases earning potential but also improves access to better jobs and strengthens social mobility. Self-employment also plays a key role in lifting families out of poverty. Households engaged in self-owned businesses or small enterprises experiences significant improvement in welfare. This highlights the importance of promoting entrepreneurship and creating an environment where small businesses can thrive. In both urban and rural areas, access to healthcare, utilities like electricity and clean water, and adequate housing are closely linked to higher welfare levels. Affordable healthcare, especially for children and women, has a particularly strong impact. Having reliable access to basic services improves the quality of life and contributes to long-term poverty reduction. Another critical factor is the role of social safety nets, particularly in rural areas. Government cash transfer programs, such as the Benazir Income Support Programme (BISP), provides valuable support for the poor, especially during economic shocks. Surprisingly, the paid employment often failed to improve welfare levels. In fact, households with members in regular paid jobs experiences reduction in welfare. This is mainly due to low wages, job insecurity and wage inequality, especially in rural areas and low-skilled sectors. This suggests that simply having a job is not enough — it must offer fair pay and decent working conditions. Asset ownership, particularly agricultural land, is not as effective in improving welfare as many would expect. This is largely due to the unequal distribution of land in Pakistan, where a small number of wealthy landowners control most of the valuable farmland. As a result, land ownership does not significantly help poor households improve their living conditions. There also exist significant gender disparities. Female-headed households have welfare levels lower than male-headed ones, reflecting deep-rooted gender inequality. Women continue to face limited access to economic opportunities, lower wages and fewer educational chances. There is a clear difference in poverty dynamics between urban and rural settings. In cities, education, self-employment and access to services like health and utilities are the strongest contributors to welfare improvement. In rural areas, social safety nets and access to basic health services are more critical, while land ownership and regular jobs offers limited benefits. This means that one-size-fits-all solutions do not work. Urban and rural areas need different types of support, and policymakers must design region-specific strategies to effectively fight poverty. The moment has arrived for the state to rethink its strategy for poverty alleviation. Economic growth alone has not been enough to lift people out of poverty. To make real progress, the country must focus on equitable income distribution, improved wages and affordable access to education, healthcare and housing. Policymakers should also promote self-employment and small businesses while strengthening social safety nets, especially for women and rural households. Increasing women's participation in the workforce and providing them with targeted skill development, especially in technology and vocational sectors, will be essential for future progress. In short, fighting poverty in Pakistan requires focusing on people, not just profits. A fairer, more inclusive development model is the key to building a more prosperous and equal society for all.
Business Recorder
6 days ago
- Business
- Business Recorder
ST, duty exemptions on imported cotton, yarn being withdrawn, Aurangzeb tells NA
ISLAMABAD: Finance Minister Muhammad Aurangzeb informed the National Assembly on Monday that the government has decided to withdraw sales tax and duty exemptions on imported cotton and yarn to support local cotton farmers and revive the domestic textile industry. In his winding-up speech on the debate on the Finance Bill 2024-25, he said the government had introduced an export facilitation scheme several years ago that allowed exporters to import raw materials duty- and tax-free to boost exports. However, he added that data from the past three years revealed a significant price gap between imported cotton and yarn and locally produced goods, which negatively impacted cotton farmers. Imported cotton yarn: APTMA hails 18pc sales tax imposition By removing these exemptions, Aurangzeb said the move is aimed at increasing local cotton production, rejuvenating spinning mills, and conserving foreign exchange reserves. He also announced Rs36 billion in additional tax measures for the fiscal year 2025-26 to compensate for revenue shortfalls caused by a reduction in sales tax on solar panels, while outlining a series of fiscal adjustments and social spending initiatives aimed at stabilising the economy and promoting inclusive growth. He said the government had presented a 'balanced budget' focused on broadening the tax base, improving compliance, controlling expenditures, and enhancing transparency. 'To keep government spending in check and ensure fiscal responsibility, we have introduced new taxes amounting to just 0.25 per cent of GDP,' he said. 'Our emphasis remains on expanding the tax net rather than burdening existing taxpayers.' He said key elements of the revised fiscal plan include measures to promote digitalisation, amend tax laws, and ease the tax burden on salaried individuals. 'We are facilitating the construction industry, introducing environmental tax reforms, and undertaking tariff rationalisation to lower business costs, curb smuggling, and boost exports…these reforms would be phased in gradually,' he added. Aurangzeb said that efforts to revive the industrial sector are under way, adding an industrial policy will be announced soon, and the government is already holding consultations on an electric vehicle policy. Among the far-reaching steps taken by the government, Aurangzeb highlighted a substantial increase in Benazir Income Support Programme (BISP) allocation – from Rs592 billion to Rs716 billion – benefiting nearly 10 million families. 'We want to empower recipients through skills development,' he said, noting the launch of Pakistan's first Skills Impact Bond with the British Asian Trust to provide results-based skills training. The minister also announced a flagship agricultural initiative offering unsecured, digital loans of up to Rs1 million to smallholder farmers, covering inputs such as seeds, fertiliser, and diesel. An Electronic Warehouse Receipt System would also be introduced to help farmers store and sell their grain more effectively. In housing, he said the government would launch a 20-year affordable home financing scheme for low-income first-time buyers. Aurangzeb also highlighted progress on women's financial inclusion, noting that Rs14 billion in loans have already been disbursed to 193,000 women under the Women Inclusive Finance Programme, with a similar amount planned for next year with support from the Asian Development Bank (ADB). Aurangzeb outlined several revisions to the original budget, including a further reduction in income tax for salaried individuals. 'Initially, we reduced the tax rate on income up to Rs3.2 million annually. For income between Rs600,000 and Rs1.2 million, the tax was to be cut from five per cent to 2.5 per cent. On the Prime Minister Shehbaz Sharif's instructions, this has now been slashed to just one per cent,' he added. Clarifying controversy over pension taxation, he said, 'Only individuals receiving over Rs10 million annually in pensions will be taxed. Pensioners over the age of 75 are fully exempt.' The proposed 18 per cent sales tax on imported solar panels has also been revised. 'It has now been reduced to 10 per cent and will only apply to 46 per cent of components, translating into a modest 4.6 per cent price increase,' he said. He criticised 'opportunistic profiteering and hoarding' and warned that the government would take strict action against such practices. He said amendments were also made to proposed changes in the powers of the Federal Board of Revenue (FBR). 'For cases below Rs50 million, arrests will now require a court warrant, and specific conditions must be met. Oversight will be ensured through a three-member FBR committee and mandatory presentation before a special judge within 24 hours,' he said. He continued that most recommendations from the National Assembly's Finance Committee had been incorporated. One such change was a revised approach to taxing e-commerce, with micro and small enterprises being shifted to a simplified tax regime. Responding to concerns over restrictions on economic transactions by non-filers, the minister said exemptions would apply to residential property purchases up to Rs50 million, commercial property up to Rs100 million, and vehicles up to Rs7 million. 'These limits may be revised later by the federal government,' he added. The minister also warned of regional instability, citing the ongoing Iran-Israel conflict and its potential economic spill over effects. 'A special committee was formed by the prime minister on June 14 to monitor such developments and ensure a coordinated response,' he added. In concluding remarks, he expressed gratitude to members of both houses of Parliament, committee chairs, and economic experts. 'I thank the Opposition leader Omar Ayub Khan, Saleem Mandviwalla, Naveed Qamar, and all members of the finance and revenue committees for their valuable suggestions, many of which have been incorporated,' he added. He also acknowledged the contributions of Prime Minister Sharif and Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif and allied party leaders, saying 'their guidance was instrumental in formulating this budget.' 'National consensus is essential for economic recovery. Let us work together to build a brighter future for Pakistan,' he concluded. Copyright Business Recorder, 2025
