The Pakistan’s politics took a new u-turn on Thursday (June 20) when former Finance Minister and Pakistan Tehreek-e-Insaf (PTI) leader ‘Asad Umar’ criticized his own party’s tax loaded and bloated budget. For the first time Umar disclosed the bailout conditions of International Monetary Fund (IMF). The controversial staff-level agreement reached between Pakistan and the IMF last month.
Umar shed light on five main conditions of the IMF deal.
Asad Umar while speaking on the floor of the National Assembly (NA), has urged the Imran Khan led government to reconsider taxes imposed on essential food items. “Tax on sugar has been raised. Prices of sugar have already risen at an alarming rate, and I think this should also be investigated,” said the former finance minister, adding that it was inappropriate to raise tax on sugar when price had already risen at an alarming rate.
“This tax is not appropriate; I think this should be withdrawn. And I believe it should also be investigated why sugar prices are rising at such a rate,” he said. The former finance minister further urged the PM’s Adviser on Finace Dr. Abdul Hafeez Sheikh to take back taxes on edible oil and ghee. He also urged his own government to bring reforms for old age people and said “labourers should be registered at the Employees Old-Age Benefits Institution (EOBI) along with domestic workers.”
While criticizing the Pakistan Muslim Leagie-Nawaz tenure he said, “the PML-N government left the economy in shambles. Due to the government’s efforts, the current account deficit decreased by 70 per cent in just a few months. We need to stop relying on other countries for exports. Instead, we should give a tax exemption to those bringing new business into the country for the next five years.”
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19 July, 2019