ISLAMABAD: The Senate on Friday continued debate on the Finance Bill 2022-23 in Islamabad.
Participating in the debate, Senator Faisal Javed urged the government not to stop funds for dams’ construction and social welfare programs of the PTI government which were aimed at providing relief to poor people.
He said the federal cabinet should also reduce their foreign tours to save the national exchequer. Criticising the government’s fiscal policies including price hike of petroleum products, he said fair and free general elections were the only way forward to put the country’s economy on the right track.
Molana Faiz Muhammad said more funds should be allocated to the agriculture sector to enhance the productivity. In this regard, provision of water should be ensured in all areas of the country including Balochistan, he added.
Read more: President Arif Alvi approves Finance Bill
Ali Zafar said taxation on immovable property was a provincial subject, therefore, the federal government should not exercise such powers that contradicted with the country’s constitution. He said measures should be taken to control inflation, anchoring the State Bank of Pakistan reserves. He said the NFC should also be revised to strengthen the federation.
Others who participated in the debate include Kamran Murtaza, Senator Kamran Michael and Haji Hidayat Ullah.
On Jan 15, President Dr Arif Alvi had approved the Finance (Supplementary) Bill 2022 under Article 75 of the Constitution.
The bill, generally known as ‘mini-budget’ and drew ire of the opposition, was passed in the National Assembly (NA) on January 13.
The passage of the bill was one of the demands of the International Monetary Fund (IMF) for the resumption of tranches under the $6 billion Extended Fund Facility (EFF).
The law has revoked tax relaxations on various luxury items according to Finance Minister Shaukat Tarin.
Addressing the National Assembly (NA) while tabling the bill, the finance minister had assured that only luxury imported items would be taxed in the mini-budget while daily-use items would still enjoy exemption.
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