ISLAMABAD: Responding to points raised by the Opposition regarding the Finance (Supplementary) Bill 2021, Finance Minister Shaukat Tarin said the government is trying to correct structural problems relating to the tax to ensure inclusive and sustainable growth in the country.
He said no additional tax has been imposed on items of common man’s usage including laptops, baby-food, roti, pesticides, bakery items and digital payments.
He said taxes of just seventy billion rupees have been proposed on luxury items in this bill which will have no affect on common people. He said a refund of 280 billion rupees will be given under this bill, He also assured the House that prices of medicines will also not increase.
The Finance Minister said escape from the IMF was not possible in view of prevailing circumstances. He said we have to take our products to the value-added tax mode to achieve an inclusive and sustainable growth in the country.
He expressed the belief that economic growth will likely to reach around five percent this year due to prudent policies of the government.
He said revenue is growing by 35 percent while remittances and exports are also on the upward trajectory.
Finance Minister Shaukat Tarin said the economy is growing and it is expected to touch five percent during the current fiscal year.
He pointed out that there is unprecedented growth of thirty five percent in revenue collection. He said the remittances and the exports are also witnessing growth. There has been bumper production of five crops because of our investment in the agriculture sector.
