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The mini-budget came with a tsunami of inflation, new taxes were implemented in the amount of 170 billion
Islamabad (92 News) – Finance Minister Ishaq Dar presented the Finance Amendment Bill 2023 in the National Assembly.
The bill introduced new taxes of 170 billion, increased taxes and duties on many luxury goods.
The government has raised the GST from seventeen to eighteen percent, raising the sales tax rate on imported mobile phones.
In the draft law, it is proposed to increase FED by 50 TINs per kilogram of cement. 10% federal excise tax on soft drinks, FED on general beverages increased from 13% to 20%, advance tax on wedding venues, restaurants, business venues and clubs, 20% advance on airline tickets. is presented.
The Minister of Finance Ishaq Dar said during his speech in the National Assembly that a national commission should be established to determine the causes of the country’s economic decline.
He said that during the previous period of PML-N, the economy of the country was developing. In the past, world institutions recognized the economic development of Pakistan. The country suffered from the bad policy of PTI. The current government came and managed the economy. There was a flood, more than 8000 billion dollars were lost due to the flood, Imran Khan’s government made an agreement with the IMF but refused the conditions, the political parties of the coalition have to bear the brunt of the harsh conditions.
Federal Minister of Finance Ishaq Dar also introduced the draft finance law in the Senate. During the meeting of the upper house chaired by the Senate chairman, the opposition representatives protested, raised their voices and raised slogans, tore copies of the finance law and blew them in the air.
The federal cabinet has already approved the additional finance bill, the government is ready to sign a staff-level agreement with the IMF by tomorrow evening by taking preliminary measures to increase revenue, after the agreement, the IMF will pay 1.2 billion dollars. .