Asad Umar criticises his own government’s budget in NA
- New taxes on the sugar, oil, and ghee must be reduced, says Asad Umar.
- Prices of sugar are already on the rise at an alarming rate, he said.
- Due to the incumbent government’s efforts, the current account deficit decreased by 70 percent.
- He suggests an increase of 10 to 15 percent in the pensions of old age employees.
- Duties on import of small cars need to be reconsidered, he added.
Asad Umar advises decreasing the taxes on sugar, ghee, and oil
During today’s budget session in the lower house of the parliament, former finance minister of Pakistan Asad Umar put forth some reservations regarding the first-ever federal budget prepared by the government of his own party. He advised the government to take measures to avoid the liquidity crisis.
“Tax on sugar has been increased. Prices of sugar are already on the rise at an alarming rate. This must be investigated, ” said the National Assembly Chairman of finance committee Asad Umar.
He said to reconsider the prices of commodities including sugar, oil, and ghee adding that their prices are already skyrocketing. The prices of these things should be decreased and proper investigations must be started to check up the unreasonable price hike. Further tax levied on sugar must be withdrawn. Price hikes need full-scale investigation, he added.
Asad Umar asks to facilitate the investors
He urged the government to boost the country’s exports and also said to facilitate the investment coming to Pakistan.
“New investments must be excluded from the minimum tax at least for the first five years whereas the balancing, modernization, rehabilitation, and expansion (BMRE) taxes need to be restored,” he further said while addressing on the floor of the parliament.
10 to 15 percent rise in the old age employees pensions
Highlighting the achievements of PTI government, he said that due to the incumbent government’s efforts the current account deficit decreased by 70 percent in just a few months. He also said that only a minor increase has been done in the government employees’ pensions and also advised to reconsider that aspect of his own party’s budget. He suggested an increase of 10 to 15 percent in the pensions. He also noticed an increase in the turnover tax in the federal budget of the country that was presented by June 11.
Asad Umar advises reducing the tax on imports
Although the government has increased the duty on imports but an increase in the duty of small cars like ‘Alto’ is not that good. The middle class of the country is also going through a difficult time. He advised redressing the prices of urea(fertilizers).
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