ISLAMABAD: Federal Minister Ishaq Dar, which winding up budget debate in the National Assembly on Saturday, said that the federal government has also raised minimum monthly salary to Rs10,000 while general sales tax rate would remain at 17 percent as announced in the budget.
Speaking on the floor of the National Assembly, Dar hinted that the government might approach International Monetary Fund for a fresh loan package.
He said that positive recommendations from MNAs have been included in the budget but he reiterated that the government would not reduce GST rate.
Dar said that anomalies with regard to tax slabs for salaried persons have been removed under his direct supervision while tax slab of 17.5 percent on rental income has also been withdrawn while instead two new slabs of 10% and 15% would be introduced.
He clarified that the government has not imposed any tax on ‘Haji’ while there is no tax on milk and other edible items.
Dar said that the government has earmarked Rs30 billion for subsidy on fertilizers – a move that will help farmers.
He said that due to circular debt of around Rs530 billion the country is facing a power shortfall of around 1700 megawatts, adding the government will resolve the issue of circular debt in the next 60 days.