Pakistan

Money budget will not impose taxes on people: Finance Minister

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ISLAMABAD: Finance Minister Shaukat Tareen has said that the money budget will not impose tax burden on the people.

Addressing a press conference after the assembly session, Finance Minister Shaukat Tareen said that the International Monetary Fund (IMF) bill of Rs. 700 billion has been brought to Rs. Are

He said that the mini budget would not impose tax burden on the people and the tax revision of Rs. 343 billion has been revised in the bill while the common man would be burdened with tax burden of only Rs. 2 billion.

Shaukat Tareen said that tax on certain items including salt and pepper would affect the common man and computers, iodized salt, red pepper would be taxed and these items included personal computers, sewing machines, matchboxes, iodized salt and red chili. Yes, but will these items increase inflation?

He said that FBR says we are paying sales tax in 48 hours but I said of course give it in 7 days but confirm. Pharma has Rs 160 billion and it is also adjustable and refundable. 70 billion left, this includes luxury items.

The Finance Minister said that this includes brands, imported sausages, imported bicycles, bakery items and other items and is withdrawing tax exemption of only Rs 2 billion from the common man.

He said that the duty on more than one thousand cc vehicles would be increased and the items which were exempted were being reviewed. Now tell me, which big inflation storm will come from Rs 2 billion? At present our sales tax is 3 trillion.

Referring to the SBP, he said that the government takes money from the SBP whenever it wants and has not taken any money from the SBP for the last two and a half years. Rs 6,000 billion is still owed to the SBP but the authority of the SBP will be with the board and the appointment of the board of governors of the SBP will be under the recommendation of the government.

Shaukat Tareen said that the board would be appointed by the government of Pakistan and if the board of SBP was to be appointed by the government then there would be no problems. The IMF demanded that the SBP be granted immunity from prosecution but the ambiguity that we sold our independence should be removed as the board would also be accountable to the parliamentary committees.

He said that we have the board of SBP and giving autonomy to the institutions is included in the manifesto of PTI. Parliamentary committees will be able to seek answers from the SBP.

On sales tax, he said that sales tax was not being levied on pesticides, fertilizers and tractors and the government had not taken any step which would put a burden on the poor. Rising prices of imported goods in the global market have affected many countries, including Pakistan.

The Finance Minister said that the United States, United Kingdom and European countries have also been severely affected by the global inflation. We will explain to the opposition that this is not a bad thing and we will consult. We don’t have to hide anything.

He said that he could not give details to the assembly during the talks with IMF but now he would provide all the details and there was nothing to hide.

Asad Malik

Asad is a journalist at UsamaSpeaks.com and he deals with Pakistan News, India News, and Lottery Sambad. Asad is a very professional and authentic news journalist.

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