It is heartening to note that a beleaguered and battered rupee made some valuable gains after the passage of finance supplementary bill and State Bank of Pakistan (Amendment) bill by National Assembly. With the approval of these two key bills the stalled tranche of over USD 1 billion is very much in sight. The passage of the ‘mini-budget’ has enabled the government to withdraw tax exemptions worth billions of rupees.
The collection of Rs 6 trillion by Federal Board of Revenue is now therefore very much in sight. Unfortunately, however, the passage of these two critical bills has been greeted by a sharp spike in the prices of POL and products. From a common man’s perspective, things have actually worsened because prices of essential kitchen items are still maintaining a rising trend. This new fuel price hike has certainly added to his misery.
Saadia Khan (Islamabad)
Copyright Business Recorder, 2022