Pakistan
Govt presents tax amendments bill in NA to meet IMF’s conditions
Finance Minister Ishaq Dar has presented the relevant amendments which proposed increase in federal excise duty on cigarettes, drinks, on cement from Rs1.5/ kg to Rs2/ kg, GST increase from 17pc to 18pc, Benazir Income Support Programme (BISP) handouts increased to Rs400bn from Rs360bn.
Islamabad: Finance Minister Ishaq Dar introduced the Finance (Supplementary) bill 2023 in the national assembly in a bid to fulfill the International Monetary Fund (IMF) for revival of loan programme.
Ishaq Dar a commission should be made to determine the cause of financial crisis in the country. He was addressing the lower house on Wednesday.
The Finance Minister also drew comparison between both the PML-N and PTI governments, saying that the per capita of GDP went up while the Pakistan Stock Exchange’s (PSX) market capitalisation was $100 billion.
He pointed out that the PSX’s market capitalisation went down to $26bn during the PTI government, pointing out that the decrease showed a lack of investor confidence in the previous government.
Dar came down hard upon the PTI government for increasing the country’s debts significantly.
The minister also moved on to the relevant amendments which proposed increase in federal excise duty on cigarettes and fizzy drinks, increase in federal excise duty on cement from Rs1.5/ kg to Rs2/ kg, GST increase from 17pc to 18pc, Benazir Income Support Programme (BISP) handouts increased to Rs400bn from Rs360bn
(Developing Story)