Criticism regarding the government imposing additional burden on the people and of a consequent rise in inflation is “baseless,” Federal Minister for Finance and Revenue Shaukat Tarin said on Thursday.
Addressing a joint press conference, flanked by Minister of State for Information and Broadcasting Farrukh Habib, Tarin said that tax revision worth Rs343 billion has been revised in the bill.
Sharing details of the supplementary finance bill, which was unveiled by the minister in the National Assembly before the press conference, he said that a Rs70 billion rebate included taxes on luxury and business items including imported fish, high-end bakery items, expensive cheese and imported bicycles.
Tax exemptions worth Rs2 billion will be removed from items of general use like personal computers, sewing machines, matchboxes, iodised salt, red chillies, and contraceptives.
“If we expect inflation to increase because of the imposition of tax on these items then they [the Opposition] are mistaken,” he said, adding that this is the “crux of the supplementary finance bill.”
“The Opposition has been spreading rumours regarding an increase in inflation because of the finance bill,” the finance minister said.
Addressing a joint press conference, flanked by Minister of State for Information and Broadcasting Farrukh Habib, Tarin said that tax revision worth Rs343 billion has been revised in the bill.
Sharing details of the supplementary finance bill, which was unveiled by the minister in the National Assembly before the press conference, he said that a Rs70 billion rebate included taxes on luxury and business items including imported fish, high-end bakery items, expensive cheese and imported bicycles.
Tax exemptions worth Rs2 billion will be removed from items of general use like personal computers, sewing machines, matchboxes, iodised salt, red chillies, and contraceptives.
“If we expect inflation to increase because of the imposition of tax on these items then they [the Opposition] are mistaken,” he said, adding that this is the “crux of the supplementary finance bill.”