Business

Taking Steps To Expand Tax Net: Miftah Ismail

Minister for Finance Miftah Ismail says an incentive package for exports would soon be announced.
He was addressing post-budget news conference along with Special Assistant to Prime Minister on Revenue Haroon Akhtar in Islamabad today.Finance Minister has dispelled the impression that expenditure of departments would increase during next financial year.
He said efforts are being made to bring more people to tax net.
He said salaries of the Government employees enhanced in the new budget.
Special Assistant to the Prime Minister on Revenue said FBR revenue has doubled during five years of present Government.He said at average there has been fifteen percent increase per year, which is not a mean achievement.
He said inflation has been kept at an average of 4.5% and fiscal transfers to provinces have increased from 1300 billion rupees in 2013 to 2300 billion in next financial year.
Earlier, a relief laden and growth-oriented budget with an outlay of 5246 billion rupees was presented in the National Assembly last evening.
It envisaged ten percent adhoc relief allowance for employees and fifty percent increase in their house rent ceiling and house rent allowance.The Finance Minister announced to increase the minimum pension from the existing six thousand to ten thousand rupees considering the difficulties of low paid pensioners.
Similarly, family pension would also get increase from 4500 rupees to 7500 rupees.
Minimum pension of pensioners above seventy five years of age would be fifteen thousand rupees.The government has also proposed an allocation of twelve billion rupees for provision of advances to government servants for house building and purchase of transport facility.
During Budget presentation, the National Assembly budget session turned into ugly, as opposition raised slogans against Miftah and torn off the copies of budget 2018-19 which was later presented in the house.