Islamabad June 10 2023: Paksitan’s Finance Minister Ishaq Dar has said that there was a discussion on non-subsidy for the restoration of the IMF program and a subsidy of 1074 billion rupees has been kept in the current budget, in which 900 billion rupees have been allocated for the power sector.
He told the press conference after the budget that the defense budget is 1.7 percent of the GDP. He said that reports of abolition of sales tax on import of edible oil are not true.
The finance minister clarified that the super tax on income has been thoughtfully introduced while the savings scheme will be implemented from July 1.
He claims that only 200 billion rupees worth of new taxes were imposed. A tax target of 9200 billion rupees was set. In 200 billion, 175 billion are direct taxes.
“Tax increase will not increase inflation.” Ishaq Dar said that five percent tax will be levied on credit and debit card payments.
He said that the amnesty scheme of bringing 11 lakh dollars was not given, this scheme is 5 years old. Some people said that we have given too much subsidy, Plan B cannot be discussed in public and assure you that Pakistan will not default.
He said that ‘those who apply the writ of default are themselves responsible.’
He says that while work is underway to privatize airports, ad hoc relief is given on salaries and does not apply to allowances. “By finalizing the budget, the concerns of the business class will be removed.”
Ishaq Dar said that if Nawaz Sharif was not happy with the budget, at least I would have received a call.
