PTI govt to present mini budget today

The newly elected government of Pakistan Tehrik-e-Insaf (PTI) is expected to present the mini budget in the National Assembly today (Friday).

According to local media reports, amendments in Finance Bill 2018-19 will be introduced in the budget. The new government is expected to make amends to the popular Tax Amnesty Scheme as well, which was launched by the previous government of Pakistan Muslim League-Nawaz (PML-N) earlier this year.

As per reports, the presentation of an amended budget is aimed at streamlining the government's economic policies in line with the major economic indicators and the introduction of policies and steps to increase government's revenues in order to overcome the budget and trade deficits.

Moreover, the government is also likely to change the tax exemption annual slab from 1.2 million Pakistani rupees to 0.8 million Pakistani rupees.

Earlier, on Thursday, the government dismissed reports of increase in tax rate for salaried class, saying no such changes in tax slabs for individuals are approved by the Federal Cabinet, while the Finance Amendment Bill will be tabled before the Parliament.

The government rejected the reports of increase in tax rate for salaried class, saying no such proposal is under consideration as part of taxation measures for the current fiscal year, stated Minister for Information and Broadcasting Chaudhry Fawad Hussain.

Chaudhry also announced that the federal government had decided to investigate the cost of metro bus projects initiated by the Pakistan Muslim League-Nawaz (PML-N) government.