Former finmin ‘very disappointed’ with PTI’s mini budget

Former Finance Minister Miftah Ismail has slammed the ‘mini budget’ presented by Pakistan Tehrik-e-Insaf (PTI) government for ongoing fiscal year 2018-2019 before the National Assembly on Tuesday.

Miftah, who was served in several key economical posts during the earlier tenure of Pakistan Muslim League- Nawaz (PML-N) government, expressed disappointment over PTI's decision to lift ban on non-taxpayers from purchasing vehicles and property.

“Very disappointed that PTI government has lifted the ban on non-taxpayers from buying new cars and expensive land. We were under intense pressure from auto companies and land developers but we didn’t budge. But today I am sorry to say automakers have won and Pakistani taxpayers lost,” said Miftah on social media," he tweeted.

Very disappointed that PTI govt has lifted the ban on non-taxpayers from buying new cars and expensive land. We were under intense pressure from auto companies and land developers but we didn’t budge. But today I am sorry to say automakers have won and Pakistani taxpayers lost.

— Miftah Ismail (@MiftahIsmail) September 18, 2018

Meanwhile, Finance Minister Asad Umar announced today that the blanket ban on non-filers seeking to purchase property and vehicles would be lifted.

Umar said that the government will be increasing the tax on tobacco and increase duty on expensive mobile phones. Similarly, the government has decided to hike tax on cars above 1800 cc by 20 percent.

The minister further said that the allotted budget for the China-Pakistan Economic Corridor will not be altered in the proposed budget. Umar revealed that the budget deficit has expanded to 6.6 per cent from 4.1pc at the beginning of the last government’s tenure.