ISLAMABAD -Pakistan Finance Minister Miftah Ismaill announced that theState Bank of Pakistan would soon announce a prize scheme for the overseasPakistanis. “All the home legal remittance transactions would be includedin the monthly lucky draws.”

The finance minister announced 10 per cent ad hoc increase in governmentemployees salary and raised minimum pension limits from Rs6,000 toRs10,000. However, no major relief is announced for over 9 million overseasPakistanis.

Ismail said under the income tax relief package for individuals there wouldbe no tax on income of up to Rs1.2 million annually, 5 per cent on incomeexceeding Rs1.2 million to Rs2.4 million, Rs60,000 plus 10 per cent onincome from Rs2.4 to Rs4.8 million, Rs180,000 plus 15 per cent on incomeexceeding Rs4.8 million.

Together with the tax cut, the overall relief for the salaried class wouldbe much higher than the 10 per cent ad hoc relief announced in the federalbudget.