The newly-elected Pakistani government, has decided to present a mini-budget, for the remaining nine months of the fiscal year of 2018-19.
According to local media reports, the decision was made during a meeting, chaired by Prime Minister, Imran Khan, in Islamabad on Wednesday.
The presentation of an amended budget is aimed at streamlining the government's economic policies, in line with the major economic indicators, and the introduction of policies and steps, to increase government's revenues to help it overcome the budget and trade deficits.
The new government is expected to make amends to the popular Tax Amnesty Scheme, which was launched by the previous government, earlier this year.
Moreover, the incumbent economic managers are also likely to change the tax exemption annual slab, from 1.2 million Pakistani rupees (100,000 US dollars) to 0.8 million Pakistani rupees (60,000 US dollars).
President of Pakistan, Arif Alvi, has summoned a National Assembly (Lower House) session, on Thursday (today), where he will offer his maiden speech to the parliamentarians.
The session will also discuss various other measures, to increase the tax revenues, including the imposition of a one percent regulatory duty on all imported items.-
Source: NAM NEWS NETWORK