ISLAMABAD: Former finance minister Asad Umar on Thursday criticised measures taken by the Pakistan Tehreek-e-Insaf (PTI) government in the federal budget, asking it to reconsider taxes imposed on essential food items, Geo News reported.Speaking on the floor of the National Assembly, Umar expressed reservations on the first federal budget presented by his own party’s government. “Tax on sugar has been raised. Prices of sugar have already risen at an alarming rate, and I think this should also be investigated,” said the former finance minister, adding it was inappropriate to raise tax on sugar when price had already risen at an alarming rate.“This tax is not appropriate; I think this should be withdrawn. And I believe it should also be investigated why sugar prices are rising at such a rate,” he said. Umar also urged the PM’s Adviser on Finance Dr Abdul Hafeez Sheikh to take back taxes on edible oil and ghee.Umar said the country’s economy had been facing several problems for a long time. “The Pakistan Muslim League-Nawaz (PML-N) government left the economy in a shambles. Due to the present government’s efforts, the current account deficit decreased by 70 per cent in just a few months. We need to stop relying on other countries for exports. Instead, we should give a tax exemption to those bringing new business into the country for the next five years.”The PTI leader said gas infrastructure development cess should be abolished. Umar also urged the government to consider an increase of 10 to 15 per cent in pension, adding: “Labourers should be registered at the Employees Old-Age Benefits Institution (EOBI) along with domestic workers”.
06-21-2019, 09:03 AM
Asad urges govt to reconsider food taxes
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