Finance Minister Ishaq Dar has said that even if there was no election, the budget would have been presented in the same way.
Briefing the National Assembly Standing Committee on Finance, Ishaq Dar said that the delay in the budget strategy paper was due to delay in talks with the IMF.
He said that government employees are the most oppressed class, the tax target is kept according to the inflation and growth rate, he has tried to put minimum burden on the existing tax payers.
Ishaq Dar said that tax measures worth 223 billion rupees have been taken in the budget, he has sought a report from Chairman FBR on the delay in clearance of containers at Karachi port.
The finance minister said that CPI is around 29% and core inflation is around 20%, we focused on IT sector and SMEs in the budget, 3.5 growth rate can be achieved.
He said that the agriculture sector is the backbone of our economy, due to the growth of this sector, the growth rate of this financial year was 0.29 percent.
The federal minister said that measures have been taken to prevent smuggling, smuggling has definitely reduced but it has not ended yet.
Ishaq Dar said that the amendment related to tax on extraordinary profits has been made, the federal government has included a law on it and will decide the same proportion, under the 99D law up to 50% tax will be levied on extraordinary profits. .
He said that 0.6 percent withholding tax on non-filers was levied to document the economy.
Finance Minister Ishaq Dar said that negotiations with China for $1 billion have been completed and $1 billion will come from China today or Monday.
He said that talks are going on with the Bank of China for 300 million dollars, dollars will also come under China’s swap agreement.
Ishaq Dar said that the IMF has set conditions for external financing which are being fulfilled, clapping with both hands, all arrangements have been made.
The Finance Minister said that Pakistan has an asset of 50 billion dollars for a gas pipeline, 6 thousand billion dollars can be obtained from Recodec.
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