‘Black day’ in Pakistan’s parliamentary history, says Shehbaz after NA passes Finance Bill

Islamabad: Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif Friday said that ‘yesterday (January 13) is a black day in country’s parliamentary history’ after National Assembly (NA) passed the ‘controversial’ Finance (Supplementary) Bill, 2021 amid opposition’s reservations. 

On Thursday, NA passed the Finance Bill, also called as mini-budget with majority vote amid strong protest by the opposition. 

Referring to the events that unfolded during Pakistan Tehreek-e-Insaf’s (PTI) parliamentary meeting the PML-N president wrote, “Yesterday was a black day in country's parliamentary history as govt imposed a mini budget on the people already reeling under historic price hike”. 

He further added that they (PML-N) will never forgive the ruling government for making the lives of general masses ‘miserable’. 

“The masses will bury them with power of their vote. It’s only a matter of time,” noted Former Punjab Chief Minister. 

Yesterday was a black day in country's parliamentary history as govt imposed a mini budget on the people already reeling under historic price hike. They wont forgive PTI 4 making their lives miserable. The masses will bury them with power of their vote. It’s only a matter of time

— Shehbaz Sharif (@CMShehbaz) January 14, 2022

The NA session was marked by noisy protests by members of the opposition parties over the ‘mini budget’.

The session resumed under the chairmanship of NA Speaker Asad Qaiser. Prime Minister Imran Khan, Planning and Development Minister Asad Umar and Foreign Minister Shah Mahmood Qureshi are also in attendance.

Pakistan Peoples Party (PPP) President Asif Ali Zardari and President PML-N and Leader of the Opposition Shehbaz Sharif were also present in the House when the treasury bench knocked down opposition’s amendments with majority votes.

On the other hand, the State Bank of Pakistan (amendment) Bill, 2021 was tabled in the house for debate.

Minister for Finance Shaukat Tarin said the government had decided not to withdraw exemptions of taxes on basic items such as milk, bakery items, laptop, baby food and solar panels.

The minister said the finance supplementary bill, 2021 was aimed at documenting the country’s economy. He said the country had Rs 20 trillion worth of retail market out of which only Rs 3.5 trillion sales were documented which was alarming.

“We will have to document our economy to achieve our tax to GDP ratio target of 18 to 20% as until it is not achieved, we will not be able to maintain our fiscal balance,” he added.

He pointed out that there is unprecedented growth of 35 percent in revenue collection.

It is reminded here that the approval of the supplementary finance bill is necessary if Pakistan is to ensure sixth review of the $6 billion Extended Fund Facility (EFE) by the IMF’s Executive Board, which is scheduled to meet towards the end of this month.