Tue, 21-Oct-2025

FBR Responds to Mini Budget Rumours

FBR

FBR Member Inland Revenue Policy, Dr. Hamid Ateeq Sarwar, denies rumors . The FBR aims to collect between Rs 2,600 and Rs 2,700 billion in taxes from July to September. The board will focus on preventing tax evasion in specific sectors. ISLAMABAD: The Federal Board of Revenue (FBR) has addressed rumors regarding the introduction of … Read more

SHC moved against increase of fuel prices

SHC stops
  • Moulvi Iqbal Haider filed petition in the court.
  • He stated that Govt illegally presented the mini-budget.
  • Centre had presented the mini-budget on the  directives of IMF.

KARACHI: A petition has been filed in the Sindh High Court (SHC) against the increase of fuel prices as well as the mini-budget presented in the National Assembly.

Moulvi Iqbal Haider claimed in the petition that the federal government had illegally presented the mini-budget in the NA on February 15, increasing the general sales tax from 17 per cent to 18 per cent, besides imposing further tax on luxury items and increasing the prices of petroleum products.

He also claimed that presenting the mini-budget at the end of the financial year was not only a deviation from the constitution but also in violation of the law because Pakistan’s residents would directly or indirectly be affected from the unlawful act.

He said the Centre had presented the mini-budget on the instructions of the International Monetary Fund for implementing its policies, adding that it showed that the federal government had failed to run the state’s affairs in accordance with the provisions of the country’s constitution.

He also said the Centre was competent to impose a financial emergency in terms of the constitution’s Article 235, under which the state could be secured from any default. But the federal government is not willing to sacrifice their expenses and lavish lifestyle, he added.

Haider said policies must be formulated with the intention to strengthen the state and its citizens, adding that policies should always be formulated for the betterment and welfare of the citizens who are facing extra burden.

He said that it is the government’s duty to provide all the necessities to the citizens, but the present government has completely failed to control their expenditures and expenses.

He requested that the court declare the mini-budget as well as the increase in the prices of petroleum products a gross violation of articles 5, 8, 9, 18, 70, 77 and 80, read with Article 25, of the constitution.

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Senators urge govt to implement austerity measures

Senators

Senators urged the government to implement austerity measures The Senate debated on the supplementary finance bill Leader of Opposition said the measures in the bill would hike inflation ISLAMABAD: The opposition senators on Friday proposed the government to fully implement austerity measures and cut its expenditures to steer the country out of the economic crisis. … Read more

NKATI terms mini budget disastrous for industry

NKATI terms
  • It will become almost impossible to run their factories.
  • He said government should not burden on industry.
  • Faisal Moiz Khan suggested for people-friendly policies.

KARACHI: President North Karachi Association of Trade & Industry (NKATI), Faisal Moiz Khan, has rejected the mini budget and the huge increase in gas & electricity tariff and, calling it disastrous for the economy & industry.

He said “If the government does not withdraw the increase in taxes and increase in electricity and gas rates through the mini budget, the industries will be closed. As a result, millions of workers will become unemployed while domestic exports will also be adversely affected.”

President NKATI Faisal Moiz Khan said that the government had earlier increased the gas & electricity tariff enormously, and at the same time, the government also indicated that the subsidy will be phased out, which will increase the production cost of the industries immensely.

“It will become almost impossible for the industrial community to run their factories, which will certainly affect the delivery of export orders, so the government should not burden the business, industry and the public to meet the IMF conditions”, he feared.

NKATI president was of the opinion that “If the business and industry will run, then the country will run, and if the people are prosperous, then the country will be prosperous, but unfortunately, all the actions of the government are on the contrary.”

Faisal Moiz Khan demanded the government that instead of taking anti-economic measures on the guidance of the IMF, business, industry and people-friendly policies should be formulated, and measures such as mini-budget should be avoided while withdrawing the increase in electricity and gas rates.

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Live update Mini-budget: Finance (Supplementary) Bill 2023 presented in National Assembly

Mini Budget

Minister for Finance and Revenue Senator Ishaq Dar on Wednesday moved the Finance (Supplementary) Bill 2023 or the “mini-budget” in the National Assembly as the government eagerly wants to meet the prerequisites for unlocking the $1.1 billion International Monetary Fund (IMF) loan. Addressing the lower house of parliament, Dar proposed the imposition of new taxes … Read more

President Alvi refuses to issue ordinance to enforce mini-budget

President Alvi Ishaq Dar

ISLAMABAD: President of Pakistan Dr Arif Alvi has refused to issue an ordinance to enforce mini-budget to meet the conditions of the IMF. The president has asked the government to take the issue to the parliament and discuss it there. In a meeting at Awan-e-Sadder in Islamabad on Tuesday, Finance Minister Ishaq Dar informed President … Read more

PM Liz Truss justifies the mini-budget as ‘urgent action’ in difficult times

PM Liz Truss

Prime Minister Liz Truss has defended the mini-budget from last week. To get the economy rolling, the PM says she is ready to make “controversial and painful decisions. Truss asserted that the Bank of England looks after pensions “quite well. In a series of radio appearances, Prime Minister Liz Truss has defended the mini-budget from … Read more

Striving to win big

imf

KARACHI: To win funding from the International Monetary Fund (IMF), Pakistan has passed a mid-year finance bill withdrawing exemptions of Rs350 billion on sales tax and a law to grant its central bank greater autonomy. The IMF set a condition of budgetary tightening for the revival of a stalled $6 billion package before the approval of … Read more

Mini budget to kick up tsunami of inflation in country, claims Sherry Rehman

ISLAMABAD: Pakistan Peoples Party (PPP) Vice-President Sherry Rehman on Thursday said the government’s mini-budget would bring a tsunami of inflation in Pakistan. “The government will not pass the Finance (Supplementary) Bill but bulldoze it in the National Assembly today. The artificial numerical majority is only being used to bulldoze the bills. Everyone realises that after … Read more

Opposition to protest against mini-budget, in favour of Hazara province today

ISLAMABAD: The opposition is all set to hold a protest outside the Parliament ahead of the session against the proposed mini budget of the government and in favour of creation of Hazara province on Thursday, Bol news reported. The opposition has devised a plan about staging protest as the National Assembly session on the mini … Read more

Maulana Fazal, Shehbaz Sharif assert ‘Mehngai march’ has become inevitable

Opposition Leader in the National Assembly (NA), Shehbaz Sharif, and Pakistan Democratic Movement (PDM) Chief, Maulana Fazlur Rehman, said the ‘Mehngai march’ (march against inflation) to Islamabad on March 23 has become inevitable. While speaking to the media after meeting the PDM chief, who also heads Jamiat Ulema-e-Islam (JUI-F), in Islamabad on Wednesday, the opposition … Read more

Mini-budget debate in NA: Opposition alleges government for striking flimsy deal with IMF

ISLAMABAD: The opposition in the National Assembly (NA) on Wednesday rebuked the government over striking a flimsy deal with International Monetary Fund (IMF) and alleged that the economic policies are in a ‘state of confusion’ which is tantamount to the ‘death of economy’. The opposition benches strongly criticised the government for doing controversial legislation regarding … Read more

KSE-100 opens bullish today

Stocks down 150 points over profit-taking

KARACHI: The Pakistan bourse opened on a bullish note as the KSE-100 index witnessed an increase of 137.78 points, or 0.31 per cent, in the first hour of trading on Friday. The Pakistan Stocks on Thursday rebounded and remained in a green zone on as the mini-budget was approved by the cabinet, while the year-end … Read more

Mini budget to lay burden of Rs2bn only on common man: Sheikh Rashid

ISLAMABAD: Minister for Interior Sheikh Rashid on Thursday said the mini-budget to be tabled in the National Assembly today would lay a burden of Rs2 billion only on the common man. Talking to the media after the meeting of the parliamentary members in Islamabad, Rashid claimed that the mini-budget would impose 17 per cent GST … Read more

NA issues 18-point agenda for today’s session over mini-budget, SBP bill

ISLAMABAD: The National Assembly has issued 18-point agenda for its crucial session today (Thursday) at 4pm in the capital during which Finance Minister Shaukat Tarin will present a mini-budget to meet certain conditions of the International Monetary Fund (IMF). Another controversial bill granting autonomy to the State Bank of Pakistan (SBP) is not included in … Read more

KSE-100 opens bullish today

KSE-100

KARACHI: The Pakistan bourse opened on a bullish note as the KSE-100 index witnessed an increase of 290.00 points, or 0.66 per cent, in the first hour of trading on Thursday. The local equity market started the day on a dull note on Wednesday, as the Federal Cabinet again delayed the approval of the refinery … Read more

PM Imran Khan will eradicate inflation in 5th year of his tenure, claims Sheikh Rashid

Interior Minister Sheikh Rashid on Wednesday claimed that Prime Minister Imran Khan would eradicate inflation in the fifth year of his tenure. Addressing the media in Rawalpindi today, he said that eradicating poverty was the government’s top agenda. Mini-budget would be passed in every condition he emphasised and said that it was necessary to control … Read more

Mini-budget to leave Pakistan’s economy dependent on external support: Shehbaz Sharif

LAHORE: Pakistan Muslim League-N (PML-N) President Shehbaz Sharif on Monday said the proposed mini-budget of the government would leave Pakistan’s economy dependent on external support. “I again tell the conscientious government members and allies that mini-budget is a cup of poison, stay away from it. Mini-budget amounts to stabbing a knife into Pakistan and its … Read more

FPCCI slams govt for ignoring businessmen in mini-budget consultations

FPCCI

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday expressed concerns over not taking stakeholders in confidence to discuss the mini-budget, a statement said. FPCCI president Mian Nasser Hyatt Maggo expressed concerns over the approach of the government for not taking the apex business, industry and trade body of Pakistan into … Read more