Federal Minister for Information and Broadcasting Fawad Chaudhry on Tuesday said that Wednesday is an important day for the Pakistan Tehreek-e-Insaf (PTI) government as the party is going to present its “economic agenda” before the people.
Taking to Twitter, the minister said that the focus was on “addressing disastrous economic policies during the initial five months of the government” and to “mitigate the financial mess the previous governments had created”.
The PTI is now giving its “economic vision” and 2019 is the year of achieving those targets, he added.
کل کا دن اہم ہے ،تحریک انصاف کی حکومت اپنا اقتصادی ایجنڈا عوام کے سامنے رکھنے جا رہی ہے،پہلے پانچ ماہ میں ادائیگیوں کے توازن اور سابقہ حکومت کی تباہ کن اقتصادی پالیسی سے پیدا ہونیوالی مالیاتی ایمرجنسی سے نبٹا گیا اب اپنا اقتصادی ویژن دے رہے ہیں، 2019 اصل اھداف کے حصول کا سال ہے
— Ch Fawad Hussain (@fawadchaudhry) January 22, 2019
It merits a mention that Minister for Finance Asad Umar will unveil a mini-budget that is called a “supplementary finance bill and macroeconomic framework” before the Parliament on Wednesday.
The government has reportedly decided to reduce and abolish recurring deposits (RD) on 150 items at least in response to the 250 items recommended by the Ministry of Commerce. This would include raw materials on electronics, engineering, chemicals, and other sectors.
It has been proposed that the slab of 21 pc will be brought down to 20 percent, 16 pc to 15 pc, 11 pc to 10 pc and six pc to five pc through the upcoming finance bill.
Moreover, on the income tax end, the government is going to provide an exemption of income tax for banking sector on the provision of loan for low-cost housing in the country, in the coming supplementary finance bill.