Tuesday, October 19, 2021  | 12 Rabiulawal, 1443
Samaa TV
Facebook Twitter Youtube
HOME > Economy

Here’s what to expect from PTI’s mini-budget

It will be presented today

SAMAA | - Posted: Jan 23, 2019 | Last Updated: 3 years ago
Posted: Jan 23, 2019 | Last Updated: 3 years ago

It will be presented today

Pakistanis should brace themselves for harder times ahead. The PTI government will present its second mini-budget today (Wednesday). 

The National Assembly will come into session at 4:30pm.

Mobile phones, electronics and hundreds of luxury items are likely to get more expensive. The price of nearly 100 imported products is expected to rise too.

Related: Government may abolish advance tax on the sale and purchase of Pakistan Stock Exchange shares

It is expected that tax will be charged on Rs500 mobile balance. The government has been advised to decrease the tax on salaried class. It is expected that non-filers will be able to buy small cars. The withholding tax on banking transactions is expected to be decreased.

PTI has announced that it will provide some relief to the people in the mini-budget.

We may see an increase in the tax or tariff rate of certain imported products and a decrease in the tax rate of imported raw material, said Finance Minister Asad Umar in December.

During his visit on Karachi, Asad Umar emphasised that the government wants to improve the ease of doing business in the country. The private sector runs the economy but it needs to see improvement to increase its investment, he said. No matter how patriotic a person is, he will only invest to a certain extent if the terms aren’t right.

Speaking about the situation before his government came into power, he said it was difficult to invest in Pakistan. Taxes and electricity prices were barriers to investment, he said, adding that the way tax was being charged was creating problems for investors. We will try to make it easier to invest in Pakistan, he promised.

Related: The key points of the PTI mini-budget: protect the poor, support farming, industry

On September 18, the PTI government had presented its first mini-budget. The two points of the budget stood out. The government wants to protect low-income and poor people and has tried to pass on new taxes to those who earn more. Secondly, it wants to support agriculture and industry and make them competitive in exports so they create jobs and earn foreign exchange.

FaceBook WhatsApp

One Comment

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp


Imtiaz Super Market robbed of nearly a million: police
Pakistan Navy intercepts another Indian submarine
Here’s Karachi’s traffic plan for 12th Rabiul Awwal
DG ISI Gen Faiz Hameed briefs COAS on security: ISPR
Govt moves to cut taxes on commodities for price reduction
Policeman martyred in explosion outside Quetta university
Eid Milad-un-Nabi celebrations across Pakistan today
Khalilzad steps down as US withdraws from Afghanistan talks
Malala writes to Taliban one month after girls’ school ban
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs   |   Authors   |   Comment Policy
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp