KARACHI, Pakistan: The Federal Minister for Finance Asad Umar has said that the government will present the mini budget on January 23.
It is pertinent to mention that earlier the mini budget had to be presented on January 21 as per initial plan; however, due to Prime Minister Imran Khan’s foreign tour, its date has now been altered to January 23.
Talking to industrialists at Karachi Chamber of Commerce on Saturday, Asad Umar said that powers of the Federal Board of Revenue (FBR) to issue Statutory Regulatory Order (SRO) has been slashed.
The finance minister said that tax irregularities will be wiped out in the mini budget. He further said that any change in current tax structure will be made with the approval of the Parliament.
Asad Umar said that facilities will be assured in the finance bill for business and investment. He said that the mini budget will feature initiatives to reduce consumption and augment the investment.
The minister said that investment as well as saving need to be increased, adding that if investment arrives, it will help create jobs and economy will flourish.
During the meeting, industrialists raised reservations regarding the devolution of authority to the lower ranked FBR officers.