Following are some excerpts from the federal budget speech made on 5th June 2010 by the Finance Minister. These below points are stated as the objectives of the budget in FY 2010-2011. We have chosen only seven among the objectives stated in the speech, for the follow up of their accomplishment overtime.
1. Economic recovery
Waste will be eliminated, expenditures tightly controlled, and the policy mix carefully managed for a strong and stable recovery.
2. Inflation Control
The best relief package we can offer is to do whatever we can to reduce inflation.
Employment generation will be an important test of our policies. Our youth, the largest segment of our population will expect this.
4. Enhancing investment
In order to achieve growth, we must make Pakistan attractive for investment. Surveys of competitiveness and cost of doing business suggest that reforms need to be undertaken to improve governance and markets in Pakistan. In order to attract investment we also need to emphasize productivity and efficiency, given our limited resource availability.
5. Energy Supply
a. In order to secure private sector investment in the power sector in a transparent manner, an Energy Development Fund is being established in consultation with Asian Development Bank. The proposed fund is likely to be started with seed money of Rs. 20 billion.
b. In FY 2010-11, an allocation of Rs.131 billion has been made for hydel, thermal and nuclear energy projects to augment generation and improve transmission.
6. Food Security
- Our special programme for food security and productivity enhancement for smaller farmers, covering 13,000 villages starting with 1,012 villages in all provinces, has commenced successfully and is expected to gather momentum.
- I would like to draw your attention to the raising of Mangla Dam, Gomal Zam Dam and Satpara Dam, which would be completed in FY 2010-11. This will substantially add to the availability of water.
- Diamir-Basha Dam shall be launched as a mega project in FY 2010-11 which would generate 4500 MW electricity and store 6,450 MAF water. It is gratifying to share that the “resettlement chapter” has been conclusively settled by the Government which would now enable us to fast track this project.
7. Social protection program
a. Benazir Income Support Fund: Rs 46 billion would be disbursed in the outgoing year, and we will increase the outlays to Rs 50 billion next year to benefit four million families.
b. Waseela e sehat: The Government will develop innovative schemes for benefitting the poor. In this connection, a health insurance scheme (Waseela-e-Sehet) has been introduced on a pilot basis to provide health insurance cover of Rs 25,000/- per family per year for hospitalization.
c. Waseela e Haq: The government is fully conscious that beneficiaries of BISP need to graduate into income earning individuals. We are designing a comprehensive exit strategy based on international best practices. Several initiatives have already been taken. For example, Waseela-e-Haq provides self employment through setting up of small businesses. Vocational training to one person of a beneficiary family is also been launched.
d. Pakistan baitul maal’s program: Pakistan Baitul Maal shall continue to run pro-poor programmes with an allocation of Rs 2 billion.