Amidst Opp protest, govt tables Supplementary Finance Bill in NA
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Amidst the Opposition uproar, Finance Minister Shaukat Tarin on Thursday tabled the Supplementary Finance Bill, 2021 in the National Assembly, reported 24NewsHD TV channel.
Speaker National Assembly Asad Qaiser who presided over the session allowed the minister to table the bill.
Before the presentation of Supplementary Finance Bill, 2021, Finance Minister Tarin read out the State Bank Bill before the parliament.
It is pertinent to mention, that supplementary finance bill will not be sent to the standing committee.
Opposition protested over the tabling of the resolution. Naveed Qamar objected that the government was introducing new traditions as government was bringing new ordinances after their expiry.
Advisor on Parliamentary Affairs Babar Awan replied that everything would be according to the law and constitution.
Earlier in the day, the Federal Cabinet has approved the Finance (Amendment) Bill which will now be presented in today’s session of the National Assembly, reported 24NewsHD TV channel.
This was announced by Federal Minister for Information and Broadcasting Chaudhry Fawad Hussain in a tweet uploaded on Thursday.
After the cabinet meeting, Prime Minister Imran Khan went straight to the Parliament to attend the National Assembly session.
کابینہ نے فنانس بل کی منظوری دے دی ہے، اب یہ بل قومی اسمبلی کے اجلاس میں پیش کیا جائیگا۔ https://t.co/S5skxZfxQf— Ch Fawad Hussain (@fawadchaudhry) December 30, 2021
Earlier, Prime Minister Imran Khan chaired the federal cabinet meeting in which Federal Finance Minister Shaukat Tarin presented the mini-budget for approval.
In an earlier tweet, Chaudhry Fawad said that the budget amendment bill was being presented to the special committee of the cabinet for its nod.
بجٹ ترامیم بل کابینہ کی خصوصی کمیٹی میں منظوری کیلئے پیش کیا جا رہا ہے، منظوری کے بعد تحریک انصاف اور اتحادیوں کی پارلیمانی پارٹی کا اجلاس ہو گا اور آج ہی یہ قانون اسمبلی میں پیش کر دیا جائیگا— Ch Fawad Hussain (@fawadchaudhry) December 30, 2021
According to 24News TV channel, people should get ready for a tsunami of inflation as the government is going to present mini-budget in the National Assembly session today (Thursday)l.
The government has called the National Assembly session at 4pm today in which it will present the much contentious mini-budget and a bill giving autonomy to the State Bank of Pakistan.
With the passage of mini-budget, prices of so many items including mobile phones, stationery, packaged food items, makeup articles are expected to go through the roof.
Extra taxes will also be slapped on luxury items and imported vehicles. The government will slash development budget amounting to Rs200 billion.
Meanwhile, Prime Minister Imran Khan has called a meeting of the parliamentary leaders of allies today to discuss the mini-budget on which they will be taken on board.
Khalid Maqbool and Aminul Haq will represent the Mutahidda Quomi Movement. The Pakistan Muslim League (Quaid) has also assured the PTI government of their support.
On the other hand, the opposition held a meeting of its steering committee yesterday in which they chalked out a strategy to thwart government in its effort to get the mini-budget and money bill passed by the parliament.
Maulana Asad Mehmood asserted that all opposition parties were on the same page vis-a-vis mini-budget and they would vehemently oppose it inside and outside the parliament.
Govt proposes to levy tax on 150 items
According to sources, the government intends to levy sales tax on as many as 150 items.
The government is expecting to collect an extra revenue amounting to Rs350 billion through additional taxation.
Sources informed that the government has suggested to increase income tax on phone calls from 10% to 15%. It has also proposed to slap 17% sales tax on cars exceeding 850cc engine capacity.
It has also been suggested in the mini-budget to levy 17% GST on the raw material used in making medicines. A 17% duty proposed on the manufactured electric cars.
However, the mini-budget has suggested to eliminate all kinds of duty on imported milk and its raw material.
The government for the first time is proposing to slap 17% sales tax on duty free shops.
It is also proposing to levy 17% GST on the preparation of bread in bakeries, restaurants and food chains.
Opposition to stage forceful protest
The leaders of joint opposition held a meeting at the Parliament House, Islamabad on Thursday.
The opposition leaders decided to stage a vigorous protest when the government would present mini-budget in the National Assembly session.
PPP leader Naveed Qamar was of the view that inflation was handiwork of the government and one should not put the blame on the IMF.
PML-N leader Khwaja Asif said that the government would take loans from the commercial banks and the State Bank would do the IMF bidding. He said that the opposition would not let the ‘Expire Ordinance’ get passed by the Parliament. He vowed to vehemently oppose the money bill in the assembly.
Reporter Usman Khan