Govt decides to slash tax on 1000cc cars

The announcement was made by Finance Minister Shaukat Tarin while addressing National Assembly session post budget.

Shaukat Tarin announced that tax worth Rs. 0.75 has been imposed on mobile phone calls lasting more than five minutes. Tarin said that no taxes have been imposed on internet or SMS.

“All Small and Medium Enterprises (SMEs) will be given loan worth Rs. 1 billion,” he said adding that tax ratio on property has been reduced from 35% to 20%.

 “Tax imposed on medical bills and GP fund is being withdrawn. The tax imposed on the milk has also been waived off,” he said adding that federal government has not proposed any tax on flour or other items.

The finance minister said that government will focus on growth strategy to create new employment opportunities and enhance the income levels of the people.

We are heading towards an inclusive and sustainable growth. The Finance Minister said that Prime Minister Imran Khan took bold and difficult decisions to steer the economy in the right direction. Despite COVID-19 challenge, we achieved the growth of four percent during the current fiscal year due to the interventions made in different sectors, including industries, housing and construction and the agriculture,” he said.

The finance minister announced that 1.1 billion dollars has been set aside to purchase anti-Covid vaccine.

“Five billion rupees have been allocated for the development of E-voting system,” he added.