ISLAMABAD: The government of Tehreek-e-Insaf has presented a mini budget in the National Assembly, which has been announced to finance mobile phones, cigarettes and vehicles, while tax exemption from Prime Minister, Ministers and Governors has been announced.
Speaker of the National Assembly chaired by Speaker Asad Qaiser Finance Minister Asad Umar presented the amendment in the finance budget, saying that the poor and middle class is to be protected, if there is no change in budget, problems can arise and the loss can reach 27 billion rupees.
Cigarettes, Mobile Phones, Luxury Vehicles
Asad Umar announced the removal of exemption from Prime Minister, Ministers and Governors from tax, said that now these high officials will also be taxed, 10 percent increase in pension and minimum pension will be 10 thousand rupees, The duty is being imposed on expensive mobile phones, there is a proposal to imposed taxes on the cigarette, more than 1800 cc vehicles have been increased from 10 to 20 percent.
5 billion relief to export industry
The Finance Minister said that in the favor of regulatory duty, the export industry is offering Rs 5 billion, the petroleum development levy tax has been decided to withdraw the current and 300 billion rupees will be collected in petroleum tax, 0.4 percent tax is being done on banking transactions for non-filers 0.6 percent and now the ban on buying property in the country has also been terminated.
Extra tax will not be charged for 12 lakhs
The Finance Minister said that the additional tax is not being received from the people of the income of 12 lakhs annually, leaving four lakh rupees from tax to people with income income, four to eight lakh rupees, one thousand rupees tax, 8 to 12 million. Thousands of rupees, one million rupees 24 lakhs will be paid 5 percent tax, Rs. 24 to 30 lakh rupees will be paid 60,000 rupees fixed tax. It has been proposed to raise more than 30 million rupees 15 percent tax, 25 percent on 40 to 50 lakh income and 29 percent tax on more than 50 million income.
Rs 50 billion allocated for Karachi
Asad Umar said that one million tonnes of fertilizer should be imported to increase the delivery of urea in which the subsidy will be given, the dimmer and steam dams will be constructed in 6 years, 6.66 billion in development projects in the financial year 2018. Allocated, which has increased to Rs 725 billion this year, 50 billion of which are allocated for the development of Karachi, Rs. 4 billion will be issued for construction of 8276 houses of workers. Khyber Pakhtunkhwa The health program introduced in the tribal areas and Islamabad will also be started
Post Budget Press Conference
Asad Umar, a post-budget press conference, said that there will be immediate steps to take action against the thieves, the government has put load on non-films, the results of all measures will take a little time, the current account deficit is estimated at 18 $ 21 billion, the maximum tax has been made for 25 percent.