Tag: budget

Rs.7.5 billion allocated for Pakistan Railways ‘ML-1’ under CPEC
17Jun By Joe RodriguezNo Comments
Asia

Rs.7.5 billion allocated for Pakistan Railways ‘ML-1’ under CPEC

The Federal Government of Pakistan has allocated Rs.6 billion for the up-gradation of Pakistan Railways existing Main Line-1 (ML-I) and establishment of Dry Port near Havelian Phase-1 under CPEC including Rs.500m as foreign component.Meanwhile, Rs 1.5 billion was also included in Public Sector Development Programme (PSDP) 2020-21 for Preliminary design/drawings for up gradation and rehabilitation of main line (ML- 1) and establishment of Dry Port near Havelian under the China Pakistan Economic Corridor (CPEC).Rehabilitation and up gradation of Karachi-Lahore Peshawar (ML-1) Railway’s 1,872km long track is an important project of CPEC.The project includes doubling of entire track from Karachi to Peshawar. After its completion the speed of passenger trains will be raised from 65/110km per ho...
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Game changer CPEC gets Rs21 billion in Pakistan’s 2020-21 budget
17Jun By Michael SmithNo Comments
Asia

Game changer CPEC gets Rs21 billion in Pakistan’s 2020-21 budget

Pakistan’s Public Sector Development Programme (PSDP) for the year 2020-21 has allocated Rs21 billion for projects under China Pakistan Economic Corridor (CPEC) - once considered a game changer for Pakistan.Except a few major road and rail projects under the CPEC, the PSDP does not allocate money for any significant scheme. There is no mention of any allocation for any of the much-discussed industrial zones, which were to be established under the CPEC to general industrial and economic growth of the country.The most conspicuous allocation under CPEC in the 2020-21 PSDP is for the construction of Zhob to Kuchlak Road, CPEC Western Corridor as Rs10 billion has been allocated for this project.For the upgradation of Pakistan Railways existing Main Line-1 (ML-I) and establishment of dry port ne...
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Defence Budget: Pakistan’s misplaced priorities
17Jun By Joe RodriguezNo Comments
Asia

Defence Budget: Pakistan’s misplaced priorities

For a country suffering through a pandemic and whose economy is crashing, putting more money for defence seems illogical. But this is exactly what the Imran Khan government has proposed in a grim reminder of how much Islamabad’s priorities are misplaced.The Pakistan Tehreek-e-Insaf government has proposed 11.9 per cent increase in the country’s defence budget.The budget document shows that the defence outlay for 2020-21 would be Pakistani Rs 1,289 billion as compared to Pakistani Rs 1,152 billion earmarked for the ongoing fiscal year.A closer look at the budget details revealed that Rs 1,289 billion figure does not include Pakistani Rs 369 billion allocated for pensions of retired military personnel and Pakistani Rs 324 billion for the armed forces development programme.“The defence budget...
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“Fortitude Budget aimed at providing jobs, supporting workers through COVID-19 pandemic”
26May By Mike TrudellNo Comments
Asia, Singapore

“Fortitude Budget aimed at providing jobs, supporting workers through COVID-19 pandemic”

Singapore’s Deputy Prime Minister Heng Swee Keat on Tuesday unveiled a new S$33 billion budget primarily focused on providing jobs and helping to tide workers and businesses through the “difficult period” of COVID-19.“The central focus of this Budget is jobs. This Budget will continue to support workers and businesses who remain affected by border closures and safe distancing measures,” Keat said."We aim to enable workers and businesses to go through this difficult period together in a synergistic way," he added.The Fortitude Budget, which is Singapore’s fourth of the year, aims to help businesses and workers adapt, transform and seize new opportunities in order to emerge stronger.This comes as Singapore prepares to reopen its economy in three phases, following a "circuit breaker" period w...
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Jobs a key part of ‘Fortitude Budget’, President gives in-principle support to draw on reserves
25May By Michael SmithNo Comments
Asia, Singapore

Jobs a key part of ‘Fortitude Budget’, President gives in-principle support to draw on reserves

Singapore President Halimah Yacob on Monday said she has given her in-principle support for the Government to draw on past reserves for a fourth support package to help businesses and people cope with the economic fallout from the Covid-19 outbreak."This is the fourth Budget within two months into the new financial year, and the second time past reserves are tapped for the Government's Covid-19 response," she wrote in a Facebook post.President Halimah also said that Deputy Prime Minister Heng Swee Keat and his team of ministers had briefed her and the Council of Presidential Advisers (CPA) last week on the fourth Covid-19 support package.The coronavirus crisis is unprecedented, she said, and the situation remains volatile, with significant uncertainties in global economy."Lives and livelih...
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