Mini budget of 40 bn rupees tax, duty to be increased on edible items
Regulatory duty will be applied on more than 300 commodities
ISLAMABAD (Dunya News) – Finance ministry of Pakistan has prepared a mini budget of 40 billion rupees tax. The regulatory duty will be applied on more than 300 commodities, reported Dunya News.
According to the details, the finance ministry prepared the budget on the pressure of International Monitory Fund (IMF). The meeting of Economic Coordination Committee (ECC) will be held within next two days to approve the decision of increasing the tax. The committee is likely to increase the tax on imported edible items as well. In the mini budget the suggestion of increasing the duty on items like fridges, TVs and other electric appliances is also presented. The meeting of IMF board will be held on 26th of December.
Also read: Ishaq Dar gears up effective implementation of Kissan Package
Federal Finance Minister Ishaq Dar on Sunday has directed for effective implementation of the relief package prepared for farmers.
Chairing a meeting in Lahore, he said all necessary measures should be taken to provide relief to the farmers announced by the prime minister.
He said the package is manifestation of the importance that the present government attaches to the well-being of the farmers community.
Ishaq Dar said a remarkable economic turnaround has been achieved by the government, which has been recognized by all prominent financial institutions of the world.
On the occasion, Punjab Finance Minister gave a presentation to Ishaq Dar on the financial reforms being undertaken by the provincial government.
Earlier, federation has clarified the Election Commission of Pakistan (ECP) that the Kissan package was announced for the relief of impoverished farmers only and has no connection with local bodies elections.
The hearing, presided over by Chief Election Commissioner (CEC), was conducted in Islamabad during which Attorney General Salman Aslam representing federation and Health Secretary from government appeared before the division bench.
The federal government counsel elucidated that Prime Minister (PM) Kissan Package worth Rs341 billion is only for the welfare of farmers. He claimed that the relief package was suspended without hearing the Ministry of Finance which is against the Constitution.
He further complained that the respondent had failed to notice ‘relief’ in the Kissan Package, which had also been granted by the previous governments and must not be treated as a special case.
Subsequently, ECP adjourned the hearing till November 11.
