MQMS SHADOW BUDGET IN BRIEF 2012-2013

(The format in which Federal Government presents its Budget) Economic and Finance Committee Of Muttahida Quami Movement

PREFACE

It is for the first time in the history of Pakistan that the annual Shadow Budget in Brief for the fiscal year 2012-13, has been produced and launched by a political party, that reflects the ideology and economic and financial vision of Altaf Hussain, Founder and Leader of Muttahida Quami Movement. Indeed the shadow budget is in conformity with the aspiration of the ninety eight per cent masses that are shackled under the tutelage of two percent privileged coterie. The major thrust of the framers of this shadow budget is on two vulnerable points- increase the tax net on the principle that, all taxable income is to be taxed and to reduce the non-development expenditure. Of course issues like the increase of proportion of direct tax, reduction of indirect tax (Sales tax) from 16 to 12%, minimizing the debt and the deficit and reducing the discount rate to boost production and employment have also been addressed. In view of the stringent economic conditions, the shadow budget would be a leap forward in upgrading the quality of life, especially of the toiling millions.

May 27, 2012

Members of MQMS Economic and Finance Committee)

INTERNAL RESOURCES REVENUE RECEIPT

REVENUE RECEIPTS
BUDGET 2011-12 2,074 744 1,330 658 195 321 141 2,732 1,203 1,529 BUDGET 2012-13 2,750 1,255 1,495 780 300 300 180 3,530 1,550 1,980

TAX REVENUE - Direct Taxes - Indirect Taxes Non-Tax Revenue - Property and Enterprise - Civil Administration and Other Functions - Miscellaneous Receipt Revenue Receipts(Gross) Less: Provincial Share Revenue Receipts(Net)

TAX REVENUE
BUDGET 2011-2012 2,073 744 719 25 1,330 206 837 167 120 BUDGET 2012-13 2,630 1,255 1,200 55 1,495 325 970 200 -

Tax Revenue (I+II) I. Direct Taxes - Income Tax - Workers Welfare Fund II. Indirect Taxes - Customs - Sales Tax - Federal Excise - Petroleum Levy

NON-TAX REVENUE
BUDGET BUDGET 2011-12 2012-13 658 780 300 195 (2) 75 125 16 30 43 65 64 80 321 400 200 118 3 141 2 25 15 32 14 27

NON-REVENUE
Income from Property and Enterprise - Profits Pakistan Post Office - Profits Pak.Telecom Authority - Interest (Provinces) - Interest (PSE & Others) - Dividends Receipts from Civil Admin and Other Functions - General Administration - Surplus Profit of the SBP - Defense - Others Miscellaneous Receipts - Economic Services - Gas Development Surcharge - Discount Retained on Local Crude Oil - Royalty on Oil - Royalty on Gas - Passport and Citizenship Fees - Others

180 120 80 20 40 15 5

CAPITAL RECEIPTS (NET) CAPITAL RECEIPTS (NET)

BUDGET 2011-12 464 300 52 27 24 139 50 80 119 37 82 164 149 2 13 69 32 36 396 BUDGT 2012-13 420 220 55 30 25 25 25 140 40 100 200 180 5 15 70 35 35 385

I. A. 1. 2. 3. B. II. -

RECEIPTS (A+B) Federal Consolidated Fund (1+2+3) Recoveries of Loans/Advances Provinces Others Permanent Debts Government Bonds Pakistan Investment Bonds FEBCs FCBCs U.S. Dollar Bearer Certificate Ijara Sukkur Bonds Floating Debt Prize Bonds Treasury Bills Public Account Saving Schemes G.P.Fund Deposit (Net) DISBURSEMENT Government Investments, Loans, and Advances and Others - Repayment of Short Term Credits CAPITAL RECIPTS NET (I-II)

CURRENT EXPENTDITURE (2012-13)

BUDGET 2011-12 791 715 76 96 74 22 495 493 2 295 55 239 166 203 103 99 BUDGET 2012-13 835 750 85 100 75 25 450 450 100 55 45 400 135 80 35

Interest Payment Interest on Domestic Debt Interest on Foreign Debt Pension Military Civil Defense Affairs and Services Defense Services Defense Administration Grants and Transfers Gains to Provinces Grants to Others Subsidies Running of Civil Government Pay and Allowances Others Provision for Pay and Pension TOTAL CURRENT EXPENDITYRE Repayment of Long Term Foreign Debt TOTAL CURRENT EXPENDITURE

25 2,071

20 2,020

243

165

2,315

2,185

(Including Repayments)

MACROECONOMIC INDICATOR
BUDGET 2011-12 10.3% 9.3% 3.3% 21,041 BUDGET 2012-13 14.6% 11.4% 3.2% 24,000

Total Revenue FBR Revenue Non Tax Revenue GDP at market prices (Rs. in Billion)