PTI to present mini budget today

Islamabad (HRNW): The Pakistan Tehreek-e-Insaf government will present the mini budget in the National Assembly on today by introducing amendments in Finance Bill 2018-19. It was reportedly decided that amendments will be made to the finance bill in an attempt to increase revenue generation. The summary of the mini-budget has been prepared and is set to be presented during the federal cabinet meeting. After the approval of the summary, the mini-budget will be tabled in the National Assembly on September 14. According to reports, a five per cent duty shall also be imposed on the export of flour. Earlier on yesterdayAC, 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 reduce the annual income tax exemption slab from Rs 1.2 million to Rs 0.8 million. The move was termed by experts as a setback for salaried employees. Fawad stated there has been no change in the taxes ratio for the salaries class. Detailing about excessive expenditures on the mega projects, following a cabinet meeting in Islamabad, the minister said Lahore metro bus project was being run with an annual subsidy of Rs 4.20 billion and Multan metro bus project was getting Rs 2.1 billion annual subsidy from the government. The multi-billion rupee metro bus projects were launched by the Pakistan Muslim League-Nawaz (PML-N) government countrywide except, Peshawar where PTI had its government.

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