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ISLAMABAD: The Pakistan Tehreek-e-Insaf will present a mini budget in the National Assembly on Friday by altering the Finance Bill 2018-19.
If rumors are to be believed, these amendments will be exercised in an attempt to increase revenue generation. The summary of mini-budget has been drafted and is set to be presented during the federal cabinet meeting scheduled today.
After the approval of the summary, the mini-budget will be tabled in the National Assembly on September 14.
According to reports, a 5% duty shall also be imposed on the export of flour with federal government development schemes worth Rs. 380 billion.
Earlier today, Information minister Fawad Chaudhry said the government was not increasing any tax on the salaried class as some media reports suggest.
In a press conference, Mr. Chaudhry said the government will slash the annual income tax exemption slab from Rs1.2 million to Rs0.8 million. The move was termed by experts as a setback for salaried employees.
Fawad stated there has been no change in the tax ratio for the salaries class.
Detailing about excessive expenditures on the mega projects, following a cabinet meeting in Islamabad, the minister said Lahore metrobus project was being run with an annual subsidy of Rs4.20 billion, while Multan’s metro bus project was receiving Rs2.1 billion annual subsidies from the government.
The multi-billion-rupees metro bus projects were initiated by the Pakistan Muslim League-Nawaz (PML-N) government countrywide except, Peshawar where PTI had its government.