Monday , October 14 2019

Federal Mini Budget 2019

 ISLAMABAD:  Federal government has present the second mini budget in the parliament today.The second budget is presented in the Parliament today by the federal government.

Pakistan Mini budget 2019:

Federal Finance Minister Asad Umar present the mini budget in the parliament. The second budget is presented in the Parliament today by the federal government, which will likely cost several imported items including cigarettes and vehicles, while the salary of income tax is Rs 6 to 8 lakh rupees, GS The rate of TT is expected to increase by 17 percent to 17 percent when the taxi will be able to buy more vehicles and property.

Federal Finance Minister Asad Omar has presented the second budget for the financial year in the National Assembly.

Asad Umar said in his budget speech that the budget was not providing a package of reforms, the opposition took the government and made mistakes by opening the heart. We have sent the people to the house for solving problems and their needs, we have to make an economy that is the final program of IMF. Do not be the next government and call the IMF to help us come to the brink of destruction. Did the current opposition have 10 years of governance, and did they leave the economy? Budget deficit was 6.6 percent last year. They passed the country by treating Rs. 3,000 billion rupees, the loss was reached Rs. 150 billion. These people came to fix the power system, but the burden of more debt was put on the public, the debt is to pay public.

The Finance Minister further added that we consider the people as their rulers, we do not talk loudly, but also understand, who tried to buy the election, the public sent them home, the future people will vote on our performance. Nobody will buy the election.

Taxes on small enterprises are half

The Finance Minister said that there could be no opportunity for employment without SME Sector, SME sector’s bank loans are taxing 20 percent. Taxes on small enterprises are being done.

Financing widespread tax on file banking transaction

Asad Omar said that bank deposits have been widespread, we are immediately terminating the widespread tax on fileer’s banking transaction.

Home for the poor

The Finance Minister said that we have to make houses for the poor, for which we are giving charts, bank loans are being reduced from 39 to 20 percent on small houses.

Tax shortage on marriage hall

Asad Omar said in budget speech that tax on small wedding halls has been reduced from 20,000 to 5 thousand.

Restricted to buy a new car on non-filer

Asad Umar said that the budget had no restriction on buying a new car on the non-filer but the new file will now buy 800 to 13 CC vehicles. Apart from this, new files are being allowed to purchase property upto Rs. 50 lakhs.

Import duty on News Print

The Finance Minister said that independent journalism should be done for real democracy, therefore the import duty on newsprint is being erased.

Reduction of dues on raw material

Asad Omar said in the budget speech that the government reduces deposits on some industrial raw material while some are being erased. Raw material disposal tax has been terminated for the chemical sector.

Sales tax on mobile

The government has imposed imposed 3 taxes on imported mobile phones in a tax, the mini-budget has increased the rate of sales tax on expensive mobile and satellite phones, after which sales tax on mobile phones are less than $ 30 150 rupees when sales tax has been imposed on import mobile for $ 30 to 100 dollars. Sales tax of Rs. 500 to 500 dollars will be the sales tax of Rs. 6000.

Loan-friendly scheme for home

Asad Omar said in budget speech that there are schemes for lending five billion rupees, debt amount will be provided to middle class to build houses.

Taxes on vehicles increase

The rate of Federal Excise duty on import of 1800 cc engine cars, jeeps and vehicles has been proposed to 25 percent.

Tax rebate on renewable energy

Asad Omar said that we want solar panels and wind turbines to be made in Pakistan, so it is proposed to exempt tax exemption for 5 years on the basis of renewable energy and manufacturing unit in the second-party budget.

Finish super tax on banking income

Federal Minister said that since July 1, the super tax is being erased on banking income, corporate income tax will remain a year’s annual reduction