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Oppn points to malafide intention after Pak FM gives incentives to his business in federal budget

It is pertinent to mention that Ismail owns a wide range of biscuits and snacks companies in Pakistan and in the federal budget for the Fiscal Year 2022-2023.

ANI | Islamabad |

Pakistan Tehreek-e-Insaf (PTI) leader and former federal minister Hammad Azhar on Friday pointed out the malafide intention of the coalition government led by Shehbaz Sharif, saying that Finance Minister Miftah Ismail has given incentives to his business in the federal budget for the Fiscal Year 2022-2023.

It is pertinent to mention that Ismail owns a wide range of biscuits and snacks companies in Pakistan and in the federal budget for the Fiscal Year 2022-2023, the Finance Minister has reduced the import duties on import of flavouring powders for food preparation for snacks manufacturers.

Taking to Twitter, Azhar wrote that Finance Minister Miftah Ismail has announced an increase in sales tax on fertiliser and natural gas while he reduced the import duties on import of flavouring powders for food preparation for snacks manufacturers, ARY News reported.

“Sales Tax on FERTILISER increased from 2 per cent to 10 per cent. Sales Tax on natural gas IS INCREASED FROM 5 per cent to 10 per cent BUT Reduction of Duties on import of Flavouring Powders for food preparation for Snacks Manufacturers. SubhanAllah”

Accusing the Shehbaz government of looking into vested interests and not focus on the welfare of the people.
Commenting on his tweet, former Human Rights Minister Shireen Mazari wrote, “Miftah clearly guilty of conflict of interest!.”

The Pakistan government announced the federal budget for 2022-23 in the National Assembly on Friday.

Under this budget, the federal Public Sector Development Programme (PSDP) makes up Rs 727 billion, which has gone down 19.2 per cent from last year’s budgeted amount of Rs 900 billion. Moreover, the Provincial PSDP for FY23 has been allocated at Rs 1,432 billion, a decrease of 16 per cent from last year’s budget of Rs 1,235 billion, reported Dawn.

The key budgetary proposals were — Minimum tax bracket for small business persons to be raised from Rs 0.4 million to Rs 0.6 million, Minimal taxable income limit will be raised from Rs 0.6 million to Rs 1.2 million per year on salaried class, 15 per cent increase in salaries of government employees and Sales tax exemption on import of solar panels and distribution, as per the media portal.

The budget outlay this year is Rs 9,502 billion, almost a trillion rupees higher than last year’s outlay. The federal budget 2022-23 has a total outlay of 9502 billion rupees has been announced, encompassing measures for what the government termed ‘sustainable economic growth, industrial and agriculture development and relief for the poor people.