Ishaq Dar Introduces Finance (Supplementary) Bill 2023 in NA

BISPIshaq Dar Introduces Finance (Supplementary) Bill 2023 in NA

ISLAMABAD, Pakistan: The Minister for Finance and Revenue Senator Ishaq Dar on Wednesday introduced “The Finance (Supplementary) Bill 2023″ in the National Assembly, proposing additional taxes and duties of Rs 170 billion to meet the understanding reached with the International Monetary Fund (IMF) for the Extended Fund Facility.

Sharing main points of the Finance (Supplementary) Bill 2023 in the House, the finance minister said that an effort has been made not to impose additional taxes on daily-used items.

The finance minister said that it is suggested to increase General Sales Tax (GST) from 17 percent to 18 percent.

It has been decided to enhance the GST on luxury items from 17 percent to 25 percent, he added.

For the air travel, the minister said that those travelling through First and Business Class will have to pay the Federal Excise Duty (FED) of 20 percent of the airfare or Rs 50,000 or whichever is higher.

Ishaq Dar said that 10 percent withholding adjustable advance tax will be levied on the bills of wedding halls in order to promote simplicity and austerity.

The finance minister further said that the FED is being enhanced on cigarettes and sugary drinks while it is proposed to increase the Federal Excise Duty on cement from Rs 1.5 to Rs 2 per kilograms.

The minister said that the government has decided to enhance the monthly cash assistance for Benazir Income Support Programme (BISP) beneficiaries and for this purpose, the BISP budget is being enhanced from Rs 360 billion to Rs 400 billion.

Senator Ishaq Dar pointed out that the State Bank of Pakistan (SBP) has issued a priority list for the import of food items, pharmaceuticals and raw material for the export industry.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

225 Rankers promoted in Rawalpindi Police Range

225 Rankers promoted in Rawalpindi Police Range

0
Rawalpindi, Pakistan: Regional Police Officer (RPO) Rawalpindi Region Babar Sarfaraz Alpa promoted 122 Assistant Sub-Inspectors (ASI) to the rank of Sub-Inspectors (SI) while 93...

Pakistan Army sent 15 terrorists to the hell while one soldier got martyrdom

0
Islamabad, Pakistan: On 10 December 2024, security forces conducted an intelligence-based operation in the general area of Sambaza, Zhob District, and during the conduct...
Imran-Faiz duo and stories of corruptions

Faiz Hamid charge sheets for working against safety and interest of the state

0
Islamabad, Pakistan: Lt Gen Faiz Hamid (Retd) is formally accused of working against the safety and interest of the state.The involvement of Lt Gen Faiz...
Proclaimed Criminals Arrested by Patrol Police Rawalpindi Region Rawalpindi, Pakistan: Patrol Police Rawalpindi Region is continuing operations against criminal elements under the guidance of SSP Muhammad Bin Ashraf. ASI Asif Kiani from Patrol Post Massa Kaswal, ASI Muhammad Atif from Bhalot Mor and ASI Imran Shaukat from Chakmoon, Sub-Inspector Waseem Hassan from Chakmoon arrested and imprisoned the proclaimed criminals while carrying out various operations. While taking further actions from the region, cases were registered against 04 drivers who installed non-standard gas cylinders in vehicles. Along with preventing and suppressing crimes, the Patrol Police is also taking the lead in protecting and serving the public which was highly appreciated in the public circles.

Proclaimed criminals arrested by Patrol Police Rawalpindi Region

0
Rawalpindi, Pakistan: Patrol Police Rawalpindi Region is continuing operations against criminal elements under the guidance of SSP Muhammad Bin Ashraf, says a press release...
Pakistan Army team that secured the prestigious Gold Medal in the “Exercise Cambrian Patrol”

COAS Gen Asim Munir met with the Pakistan Army team that secured the prestigious...

0
Islamabad, Pakistan: General Syed Asim Munir, NI (M), Chief of Army Staff (COAS), met with the Pakistan Army team that secured the prestigious Gold...
Advertisement