NA session on mini-budget adjourned till Monday
ISLAMABAD – The National Assembly session was adjourned on Friday without voting on the finance bill after a brief debate on the budget proposals.
Speaker Raja Pervaiz Ashraf chaired the session, during which lawmakers criticised the government for increasing the burden on the poor by hiking taxes.
Finance Minister Ishaq Dar had presented the bill in both houses of parliament on Wednesday as the government rushed to fulfil the IMF’s conditions for the release of a desperately needed bailout.
Dar, while speaking to reporters after the session, said that he expects the bill to be passed in both houses by Monday or Tuesday as Senate Chairman Sadiq Sanjrani has “given us till Friday”.
Pakistan is in dire need of funds as it battles a wrenching economic crisis as the State Bank of Pakistan (SBP)-held foreign exchange reserves barely cover one month of imports.
While participating in the budget debate today, Pakistan Peoples Party’s (PPP) lawmaker Qadir Khan Mandokhail urged the government to lessen the burden on the poor, saying that they should be taken care of.
Talking about the money bill, Mandokhail questioned the finance minister about whether taxes have been imposed on luxury bungalows. He said that social media apps WhatsApp and Twitter should also be taxed.
The PPP leader said that the PTI tried sabotaging the IMF agreement, adding that Shaukat Tarin, Mohsin Leghari and Taimur Jhagra’s audios have exposed this.
Meanwhile, Muttahida Qaumi Movement-Pakistan (MQM-P) leader Salahuddin criticised the finance minister for being non-serious while presenting the mini-budget. “The level of seriousness was that he [Dar] left soon after presenting the bill,” he said.
MNA Saira Bano from Grand Democratic Alliance also lashed out at the government for the increase in taxes, saying that it was impossible for common people to meet their essential needs due to inflation.
PTI MNA Mohammad Afzal Khan Dhandla emphasised the need to focus on agriculture and population control. He called for strengthening public transport and reducing car imports.
Pakistan government and the IMF could not reach a deal last week and a visiting IMF delegation departed Islamabad after 10 days of talks, but said negotiations would continue. Pakistan is in dire need of funds as it battles a wrenching economic crisis.
An agreement on the ninth review of the programme would release over $1.1 billion of the total $2.5 billion pending as part of the current package agreed in 2019 which ends on June 30. The funds are crucial for the economy whose current foreign exchange reserves barely cover three weeks’ worth of imports.
The two sides are holding virtual talks in order to iron out differences over the fiscal measures.
