Pak­istan to present mini-bud­get on 23rd

The Gulf Today - Business - - REGION -

KARACHI: Pak­istan Fi­nance Min­is­ter Asad Umar on Satur­day an­nounced that the gov­ern­ment is to present the mini-bud­get on Jan­uary 23.

The mini-bud­get was set to be pre­sented on Jan­uary 21 but was de­layed as Prime Min­is­ter Im­ran Khan will be trav­el­ling, Umar told in an in­ter­ac­tion with traders at Karachi Cham­ber of Com­merce.

“Tax anom­alies will be re­moved in the mini-bud­get,” the fi­nance min­is­ter said. “Any changes in tax pol­icy will be made af­ter ap­proval from the Par­lia­ment,” he held. Umar stated: “Pow­ers of Fed­eral Board of Rev­enue’s (FBR) statu­tory reg­u­la­tory orders (SROS) have been with­drawn.”

Last month, in his brief­ing to the Sen­ate Stand­ing Com­mit­tee on Fi­nance, Umar had said the gov­ern­ment was mulling over bring­ing an­other sup­ple­men­tary bud­get. He said an in­crease in taxes had been pro­posed but the gov­ern­ment could con­sider de­creas­ing taxes in or­der to boost the econ­omy.

This would be the sec­ond such bud­get in­tro­duced by the Pak­istan Tehreek-e-in­saf (PTI) gov­ern­ment since it was voted into power in the July 28 gen­eral elec­tion.the fi­nance min­is­ter had pre­sented Fi­nance Sup­ple­men­tary (Amend­ment) Bill 2018 in the Na­tional As­sem­bly in Septem­ber, say­ing that “dif­fi­cult times called for dif­fi­cult mea­sures”. The ‘mini-bud­get’, as it was called, cut planned de­vel­op­ment spend­ing and in­creased taxes for higher earn­ers.

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