Ijaz kakakhel Islamabad
The federal government on Tuesday tabled Finance (Supplementary) Bill 2021 generally known as mini-budget in the Senate.
The finance bill was moved by Finance Minister Shaukat Tarin amid the opposition’s noisy protest. The finance supplementary bill, generally known as mini-budget, which it had already presented in the National Assembly, proposes amendments in income tax, sales tax and federal excise duty to impose Rs375 billion taxation measures and withdraws the Rs343 billion sales tax exemption.
Traders and businessmen have urged the government to withdraw 17 per cent sales tax imposed on mobile phones through the mini-budget.
Various members of the house participated in the debate including Raza Rabbani, Sherri Rehman and Tahir Bizenjo.
Speaking in the Senate, Pakistan Peoples Party Senator Sherry Rehman had expressed grave reservations about the state of public finances and the lack of vision in the mini-budget presented by the government.
“It’s a non-serious, black market budget. We urge the government not to take Pakistan into the dark ages,” she added. She said that government was expecting change from the incumbent government but has instead received increase in gas prices, borrowing and reduction in development expenditures along with sanctions for large businesses.
She also expressed concern over market uncertainty, and questioned the measures being taken by the government to reduce the current account deficit and burdening debt.
The mini-budget is tantamount as killing of poor people, which she claimed was make by the direction of the IMF. Inflation is on extreme, and people were compelled for begging even in the capital of Pakistan. Total debt of the country reach to 40 billion US dollars and now the government has no option but to take loan from commercial banks on tough conditions. She claimed that the current price hike would destroy the incumbent government.
