PTI statistics cannot be trusted: Muhammad Zubair
Last updated on: 26 June,2021 02:14 pm
Decisions of Imran Khan cannot be trusted: Zubair
ISLAMABAD (Dunya News) – Pakistan Muslim League-Nawaz (PML-N) leader Muhammad Zubair on Saturday said that he has never such a ridiculous budget and statistics by Pakistan Tehreek-e-Insaf (PTI) cannot be trusted.
Addressing a press conference, Muhammad Zubair said that the budget announced by the government will bring a storm of inflation in the country and common man will bear the brunt of it.
He further said that Finance Minister Shaukat Tarin is biggest supporter of the Stock Market but it has also rejected the budget as it has witnessed a continuous decline from last two weeks.
The PML-N leader regretted that the incumbent finance minister is defending indirect taxes by citing examples of Malaysia, China and Turkey. Increase in price of petrol will definitely be followed by inflation, he added.
Earlier, winding up discussion on the Budget for next fiscal year 2021-22 in the National Assembly on Friday, Finance Minister said we are heading towards an inclusive and sustainable growth.
The Finance Minister said that Prime Minister (PM) Imran Khan took bold and difficult decisions to steer the economy in the right direction. Despite COVID-19 challenge, we achieved the growth of four percent during the current fiscal year due to the interventions made in different sectors, including industries, housing and construction and the agriculture.
Shaukat Tarin also announced a series of relief measures for different sectors. He said the tax relief earlier given to the auto sector for the vehicles up to 850cc is being extended to 1000 cc vehicles.
He said tax imposed on medical bills and GP fund is being withdrawn. The tax imposed on the milk has also been waived off. He said there will be no tax on internet and SMS while only 75 paisas will be charged from the users on a call of more than five minutes.
The minister said there will be zero tax on the registered IT platforms while only two percent for the unregistered ones. He said there will be 17 percent tax on the value added products of gold.
He further said that tax on poultry is being reduced from 15 to 10 percent. On textile products, the tax has been reduced from 12 to 10 percent. Similarly, tax rate on the real estate has been reduced. Under the construction package the ratio of income tax has been reduced from 35 percent to 20 percent. He said tax relief has also been given to oil refineries so that they could turn to Euro-5 fuel.
The minister categorically stated that no tax has been imposed on flour and its products.