Peshawar: Khyber Pakhtunkhwa Finance Advisor Muzamil Aslam has described the federal budget as a poison-killer budget and said that the federal budget is an economic murder for the common people, which will affect daily life and business to an extreme extent.
Responding to the federal budget, the finance adviser said that the federal budget does not include any government budget, but the IMF budget, but the Khyber Pakhtunkhwa government has been followed in pension reforms. New government employees in the federation will be employed under contributory pension.
Muzamil Aslam said that the salaried class has been strangled in the federal budget, the tax rate has been increased from 35 to 45 percent while the slabs of the salaried class have also been changed. Capital gains tax has also been increased.
He said that the tax on real estate has been reduced to 15% for the first time and to 45% on non-filers. The tax has been increased to 38 percent on the request of the IMF.
Muzamil Aslam said that the non-tax revenue has increased to 3587 billion, which is a major source of inflation, all sectors will be affected by the increase in taxes. After the payment to the provinces, the income of the federation will be 9111 billion rupees, while the interest payment this year is only 9700 billion rupees.
The finance adviser said that the federal government’s income cannot even pay the interest, 593 billion rupees have been set aside for the BISP program in the budget, 10 million people will benefit from BISP instead of 9.3 million. No matter.
The finance adviser said that the target of 12% inflation in the budget is not correct, there will be more inflation, the addition of the late filer category after the non-tax filer category is another mistake, increasing the petroleum levy to 80 rupees will further burden the public. Will come, 25 and 20 percent increase in salaries will definitely be a relief but will definitely affect the surplus of the provinces.
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