12
Wednesday
December 2018
6:24 AM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
International News
Pakistan slashes non-salary budget by 10%
 
Islamabad, Dec 5 (PTI) The Pakistan government has decided to cut by 10 per cent the non-salary current budget of the civilian setup as part of an austerity drive to solve the cash-strapped nation's economic woes, according to a media report.

The Express Tribune reported that the move will help save nearly Rs 10 billion in the remainder period of fiscal year (2018-19) but would not address core fiscal problems.

The Pakistan Tehreek-e-Insaf (PTI) government has also decided to continue with a ban imposed on the creation of new posts excepts where the posts are required to be created under development projects, the report said.

The Ministry of Finance has issued an office memorandum to give effect to the austerity measures for fiscal year 2018-19. Effectively, the cut in the current non-salary expenditure will be on the budget allocations for the period of December 2018 to June 2019, the report said.

"In consideration of fiscal constraints and keeping in view the austerity drive of present government and to save public money, it has been decided to effect a saving of 10 per cent in current expenditures," said the ministry of finance office memorandum.

The 10 per cent cut will not be applicable on employees' related expenses, their retirement benefits, subsidies, transfers, and civil works. The military budget has also not been slashed.

The PTI government is implementing tight fiscal and monetary policies. The State Bank of Pakistan has already downward revised the economic growth rate projections to 4 per cent for this fiscal year as against 5.8 per cent growth rate in the last fiscal year.

The total downward revised annual budget for running the civil government is Rs 460 billion for fiscal year 2018-19. Nearly 70 per cent expenditures have been exempted from the budget cut, which would reduce the net benefit to not more than Rs 10 billion, according to an official of the Ministry of Finance.

The total non-salary expenditures are Rs 180 billion and some components like transfers and civil works are exempted from the cut. The total budget for this fiscal year is Rs 5.3 trillion. Out of this, an amount of Rs 1.1 trillion has been allocated for defence and Rs 1.842 trillion for servicing of the public debt.

Prime Minister Imran Khan, after his swearing on August 18, moved into a modest three-bed room house of his military secretary along with two servants.

He had announced that he would not be staying in the sprawling PM House which has a staff of 524 and fleet of 80 vehicles, keeping his pledge to cut down the expenditure of the cash-strapped government.


Trump's potential next chief of staff pick leaving White House
UK PM faces fight for her political life in Brexit deal
Iran arrests 10 over suicide attack on police
Trump chooses new Joint Chiefs of Staff chairman, against Mattis wishes
Merkel gets boost with ally's party win
Rouhani warns weakened Iran less able to fight trafficking
Trump may nominate Heather Nauert as UN Ambassador: Reports
Qatar injects more cash into Gaza for Hamas employees
Singer Mika Singh Detained in Dubai for Sending Obscene Messages to 17-year-old: Reports
Conditions Met for Assange to Leave Embassy in London, Says Ecuador President
Moscow dismisses 'groundless' US claim Russia breaching arms treaty
AgustaWestland deal 'middleman' Christian Michel brought to India
Don't be like Hitler: sacked Lankan PM tells President Sirisena
Sri Lanka court suspends Mahinda Rajapakse's powers as PM
Nigerian President denies death, body double rumours
France to consider state of emergency to prevent worst civil riots: govt spokesman
India To Host G20 Summit In 2022, 75th Year Of Independence, Says PM Modi
PM Modi Meets Saudi Crown Prince, Investments, Defence Ties Discussed
US strike in Afghanistan's Helmand killed 23 civilians: UN
Ukraine bars Russian men aged 16-60 from entering country
ENTERTAINMENT NEWS
Vaikom Vijayalekshmi ties knot with Anoop
 Vaikom: Playback singer Vaikom Vijayalekshmi has tied knot with Anoop N. at Vaikom Mahadeva temple.  
Mohanlal's Odiyan: Official trailer launched
Mammootty narrates Odiyan's intro?
Sradha Kapoor as Saina Nehwal: First look poster is out.
KERALA NEWS
Activist Rehana Fathima, Who Attempted Sabarimala Trek, Arrested Over Facebook Post
 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim
Good news for Keralite Nurses: IELTS cut-off reduced to 6.5
BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
NATIONAL NEWS
BJP mocks Oppn meet, asks them to reveal PM candidate's name
 Kolkata, Dec 10 (PTI) BJP national general secretary Kailash Vijayvargiya has mocked the scheduled m
RBI Governor Urjit Patel makes loud noise with silent exit
Can special consideration be shown to man with skin disorder: HC asks Centre
BJP files caveat in SC over 'rath yatra' in WB
Untitled Page
Rashtra Deepika LTD
Copyright @ 2018 , Rashtra Deepika Ltd.