ISLAMABAD (APP) Federal Minister for Finance Dr Abdul Hafeez Shaikh has said that budget 2011-12 is a balanced and public welfare oriented in nature in which and many concessions have been given to poor segment of the society. Talking to PTV, the finance minister said the significant aspects and focus of budget are to control inflation, provide employment oppertunities and protection of the poor. He said the Government has allocated Rs 35 million for the poor and cash transfer programmes have also been introduced for the first time with addition to creation of 58 million jobs for the deserving. Dr Hafiz said budget is a record of Govts income and expenditures so focus should be on the methodology of how to reduce gap between them. He said the budget unfolds many public relief measures as no new taxes have been introduced. People who are already paying taxes will not be burdened further adding there were 397 regulatory duty paid items amongst 392 items have been exempted from any duty. Some special excise duties have been exempted. Federal excise tax has been reduced. Sales tax has been reduced to 16 earlier it was 17 per cent. He said this years revenue target is Rs 1588 billion which will be revised accordingly as 12 per cent inflation. Hafiz Sheikh said 2011-12 budget is based on political consideration and we have taken different steps such as easing in tax paying system,15 percent raise in salaries, special quota for annual development program, BISP has been enhanced from Rs 35billion to Rs 65 billion. Minister said IMF has no demands from Pakistan except for collection of revenue in proper way and return of loans in time adding they put emphasis on proper working of the macroeconomic framework. Recalling his past experience he said: I have bank, and Harvard university adding I was born in countrys hottest and less developed area of Jacobabad. He said budget making is a balancing act which requires adjustments between the people on one side and development programs and control of Governments expenditure on the other side. Hafiz Sheikh said the budget gives a lot of hope to the poor segments of society adding for their protection we have spared Rs 730 billion for development programs, two and a half for physical infrastucure. Replying to a question he said budget 2011-12 fulfils objectives of stabilization, frugality, and proper tax collection from non-paying citizens. Answering another question he said there is an adverse ratio in direct and indirect taxes which needs to be proportionate and non progressive tax have been introduced in this budget. Minister said the govt have done policy making and regulation in which business activity is assigned to the private sector for improvement. Subsidies have been reduced. Speacial measures have adopted in the power sector and appointed professional board of directors in 12 power departments. Four concrete decisions have made in this public sector. Some Public corporations to be introduced in public sector. Companies shares should be transfered to public sectors. Departments should come under reactivate private sectors.