- The former ruling party criticizes the government for eliminating tax exemptions for exporters.
- Salaried class “suffocated” by modification of tax slabs: PTI.
- New tax measures to unleash “tsunami of inflation”: PTI.
ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) on Wednesday termed the Finance Bill 2025 introduced by the Pakistan Muslim League-Nawaz (PML-N) led government in the National Assembly as “poison budget” and a “package of contradictions.” “.
A PTI spokesperson alleged in a statement that the federal budget for FY25 was presented “against the nation, employment and economic development”.
The former ruling party also blamed the PML-N government for having no control over the finalization of budget proposals that were “actually dictated” by the International Monetary Fund (IMF).
Terming the growth rate of gross domestic product (GDP) as unrealistic, the party founded by Imran Khan said that the GDP growth rate has been fixed at 3.6%, which would not even increase to 2.4% according to the World Bank estimate.
Subsequently, the new fiscal measures would trigger a “tsunami of inflation” in the nation, the PTI spokesperson said, adding that the government's approach in announcing maintenance of the inflation rate at 12% was unrealistic.
The opposition party also criticized the incumbent government for lifting tax exemptions for exporters, as well as increasing the tax burden on real estate, which would “only promote cash transactions” instead of increasing the tax net.
He added that the salaried class was suffocated by the changing of tax slabs by the federal government, which also “made a joke by allocating only Rs 5 billion” for the agriculture sector after making big claims about the tax package. aid.
The PTI also criticized Prime Minister Shehbaz Sharif's administration for increasing salaries of government employees by up to 25% and increasing the petroleum tax to Rs 80 per litre, which would put additional financial burden on taxpayers.
Earlier today, the federal government presented the federal budget 2024-25 with a total outlay of Rs 18.9 trillion.
First-time Finance Minister Muhammad Aurangzeb unveiled the budget in the National Assembly amid a vociferous protest by opposition lawmakers belonging to the PTI-backed Sunni Ittehad Council (SIC) who stood in their seats. desks, raised anti-government slogans and tore copies of the Finance Bill 2025.
