ISLAMABAD, Pakistan: The Federal Minister for Finance Asad Umar on Tuesday presented the Supplementary Finance Bill in the National Assembly, and announced to increase 10 percent increase in minimum pension and issuance of Sehat Insaf Cards over the directions of Prime Minister Imran khan.
While presenting the Supplementary Finance Bill in the House, Asad Umar said that Sehat Insaf Cards would be issued in Islamabad and FATA under which per family would be provided Rs 540,000 for medical treatment.
The minister said that we have also instructed the Punjab government to introduce the facility in the province as well.
Asad Umar said that changes or amendment in the federal budget 2018-19 is inevitable to avoid difficulties. He said that last year the budget deficit was 4.1 percent.
The finance minister said that the last government’s budget was against the facts. He said that change in the budget is need of the hour as economic deficit has reached 6.6 percent and the current situation can widen the budget deficit to 7.2 percent.
The minister said that putting the Country out of the burden of loans is also a priority. He said that our target is to strengthen the economy and provision of jobs.
Asad Umar said that the deficit in energy sector stands at Rs 450 billion while the gas sector is currently facing more than Rs 100 billion deficit. He said that the foreign deficit has reached $ 95 billion. He said that we will try to enhance exports.
Moreover, he said that Rs 4 billion will be released immediately for the construction of 8,276 houses for laborers.
The minister for finance said that no tax is being imposed on annual income up to Rs 400,000. He said that Rs 1000 tax is being imposed on annual income between Rs 400,000 to 800,000. He said that duty over expensive cellular phones will be increased.
The minister said that Rs 40 billion package is announced for the textile industry in Punjab.
