47. Pakistan Economic Survey 2011-12 - Consultancy Services in ...

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Pakistan Economic Survey 2011-12• Risk based refund processing (Pilot Project).• Audit case selection through Nexus Business Intelligence System.b. Customs Automation• E-filing, paperless workflow and risk based selectivity.• Nationwide e-filing.• Post Clearance Audit (PCA) introduced.• Electronic access to consolidated data to different stake holders.• System based random marking of examiners and appraisers.• Availability of country wide referential import value data.• On-line Bank Payment System (24 NBP nation wide booths).• Elimination of GD filling fee.Source: FBRReview of Public ExpenditurePublic expenditures are significant for provision ofsocial services, economic stabilization and growth.However, in Pakistan, public expendituresremained under tremendous pressure during 2011-12 owing to flood related expenses, continuedsecurity related issues and higher subsidies. DuringJuly-March, 2011-12, actual disbursement againstthe budgeted subsidy of Rs. 166.4 billion set forthe current fiscal year 2011-12 stood at Rs. 103billion (excluding Rs. 391 billion on account ofdebt consolidation). It is expected to increasefurther on account of a settlement of circular debtissue. The permanent solution of the circular debtissue requires the rationalization of electricity tariffand improving the overall efficiency of the energysector.Table 4.3: Trends in Components of Expenditure (as % of GDP)YearTotalExpenditure(A)CurrentExpenditure(B)InterestPayments(C)Defence(D)DevelopmentExpenditure(E)Non InterestNon-Defence Exp(A-C-D)FiscalDeficitRevenueDeficit/Surplus(TR-TotalCE)Primarydeficit(TR-NIExp)1999-00 18.5 16.4 6.8 3.9 2.5 7.7 5.4 -3.0 1.72000-01 17.0 15.3 5.9 3.1 2.1 8.0 4.3 -2.2 2.02001-02 18.5 15.7 6.1 3.3 2.8 9.0 4.3 -1.7 1.62002-03 18.4 16.2 4.8 3.3 2.6 10.0 3.7 -1.4 1.22003-04 16.9 13.7 4.0 3.3 2.8 9.7 2.3 0.3 1.12004-05 17.2 13.3 3.4 3.2 3.5 10.5 3.3 0.5 0.02005-06 18.4 13.6 3.4 3.2 4.8 11.8 4.3 0.5 -0.82006-07 20.6 15.8 4.4 2.9 5.0 13.3 4.3 -0.9 -1.32007-08 22.2 18.1 5.0 2.7 4.4 14.5 7.6 -3.5 -2.62008-09 19.9 16.0 5.2 2.6 3.8 12.1 5.4 -1.5 -0.22009-10 20.3 16.8 4.5 2.5 3.5 13.3 6.3 -2.7 -1.82010-11 19.2 16.1 4.0 2.5 2.8 12.7 5.9 -3.5 -2.62011-12B 18.0 14.4 3.8 2.4 3.6 11.8 4.0* -0.5 -0.3B Budgeted* Budgeted number is revised to 4.7 percent of GDP58
Fiscal DevelopmentTotal expenditures (TE) stood at Rs. 3,455.1billion or 19.2 percent of GDP in 2010-11 ascompared to Rs. 3,006.7 billion or 20.3 percent ofGDP in 2009-10. It is worth mentioning thatdespite the unplanned expenditures due to floodrelated activities at the start of the current fiscalyear, the expenditures as percent of GDP remainedat 12.8 percent (Rs. 2,641.9 billion) during July-March 2011-12. Total expenditures are expected todecline by 18.0 percent.Current expenditures (CE) are expected to remainat 14.4 percent of GDP in fiscal year 2011-12.During fiscal year 2010-11, current expenditurewere Rs. 2,900.8 billion or 16.1 percent of GDPcompared to Rs. 2,481.0 billion or 16.8 percent ofGDP in 2009-10. The decline came from noninterest-non-defensespending. During July-March,2011-12 current expenditures stood at Rs. 2,154.1billion or 10.4 percent of GDP compared to Rs.1,909.8 billion or 10.6 percent of GDP in the sameperiod of fiscal year 2010-11.Development expenditures in fiscal year 2010-11remained at Rs. 506.1 billion or 2.8 percent ofGDP as compared to Rs. 517.9 billion or 3.5percent of GDP in 2009-10. In the current fiscalyear's budget, the allocation for developmentexpenditure is 3.6 percent of GDP. The share ofcurrent expenditure in total expenditure hasdeclined significantly from 89.9 percent to 84percent in 2010-11. These are expected to declinefurther by 4 percent due mainly to the substantialfall in interest payments. Defense expendituresaccounted for 15.5 percent of current expenditurein 2010-11. As a percentage of GDP defenseexpenditures were 2.5 percent in 2010-11 and arelikely to remain slightly below this level in 2011-12. However in absolute terms defense expenditurerose to Rs. 450.6 billion during 2010-11 from Rs.375.0 billion in 2009-10. Nevertheless the budgettarget is set at Rs. 495.2 billion for 2011-12 whichis around 2.4 percent of GDP.Fiscal Performance: July-March, 2011-12At present Pakistan is confronting unsustainablefiscal deficits and unabated debt service charges onaccount of both external and internal challengesincluding electricity and gas outages that haverestricted the overall growth of the economy.Similarly insufficient external inflows haveresulted in increased reliance of government ondomestic resources. It is, therefore, important torevamp the strategies of domestic and externalfinancial resource mobilization through tax andnon-tax instruments.Pakistan has witnessed a sharp deterioration infiscal indicators during the past few years due tothe revenue-expenditure gap. The fiscal situationwas further aggravated by the domestic andexternal imbalances together with the deterioratingsecurity environment, persistent inflationarypressures, unprecedented floods in 2010 andmassive rains in 2011.Table 4.4 Consolidated Revenue & ExpenditureBudgetEstimate2011-12Prov. ActualJuly-March2010-11Prov. ActualJuly-March2011-12Growth (%)July-March2011-12A. Total Revenue 2,870.5 1,495.3 1,747.0 16.8a) Tax Revenue 2,151.2 1,117.6 1,379.2 23.4Federal 2,074.2 1,074.8 1,321.5 23.0of which FBR Revenues 1,952.0 1,020.1 1,280.4 25.5Provincial Tax Revenue 77.0 42.8 57.6 34.6b) Non-Tax Revenue 719.3 377.7 367.9 -2.6B. Total Expenditure 3,721.2 2,262.6 2,641.9 16.8a) Current Expenditure 2,976.3 1,909.8 2,154.1 12.8Federal 2,016.3 1,345.7 1,478.7 9.9- Interest 791.0 507.4 624.5 23.1- Defence 495.2 335.1 348.0 3.8Provincial 960.0 564.1 675.4 19.7b) Development Exp. & net lending 744.9 352.7 428.0 21.359
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Highlights of the Pakistan Economic
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SOCIAL INDICATORS2001-02 2002-03 20
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Special SectionPakistan: Flood Impa
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district roads (including farm-to-m
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System. The main canals are the Pat
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Chapter 2AgricultureThe agriculture
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Agricultureagriculture. Livestock c
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AgricultureTable 2.6: Area, Product
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InflationRegional PricesPrices of e
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Chapter 8Trade and PaymentsThe unfa
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Trade and Paymentsthe services acco
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This was mainly due to current acco
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Trade and PaymentsTable 8.3: Struct
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Trade and Paymentsconcentration is
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Table 8.6: Structure of ImportsPart
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Trade and PaymentsAmendments in Exp
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Chapter 11Health and NutritionAcces
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Health and NutritionHealth Expendit
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achieved in the case of BHUs and 95
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Health and Nutritionglobal initiati
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Health and Nutritiontook necessary
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Chapter 12Population Labour Force a
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Age Composition of PopulationThe ag
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Population, Labour Force and Employ
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Table-12.16: Unemployed - Pakistan
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Chapter 14EnergyEnergy is considere
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EnergyStock Issue• Recovery of re
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Energy14.1 Energy ConsumptionPakist
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Energyto 21.4 percent last year. Th
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Energy14.2-d CoalPakistan has huge
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tariff increases of 6%, 12% and 6%
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Energy14.3-b Petroleum ProductsPetr
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Energybecome a popular domestic fue
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EnergyAlso Laraib Energy Limited (
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EnergyTable 14.14: Oil and Gas Disc
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Energy14.5 Performance of Power Sec
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Energytrend of hydro-thermal energy
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Energy14.5-c Private Power and Infr
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Energy Proposal for undertaking a f
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Chapter 15Social Safety NetsBackgro
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Social Safety NetsBox-1Poverty Alle
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Social Safety NetsTable 15.4: Perce
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Social Safety Netsenterprise develo
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Social Safety Netsdignity of househ
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period of last year. Furthermore, i
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Social Safety Netsand ensure growth
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