Speaking in the House, Leader of Opposition in the National Assembly Shahbaz Sharif said the indirect taxes to the tune of billions of rupees have been introduced in the supplementary finance bill which will bring a storm of inflation and be a heavy burden on the masses.
He particularly criticized the increase in gas prices and said they will hurt industrial and domestic consumers equally.
Shahbaz Sharif said the increase in gas tariff up to 143% will hurt all segments of the economy badly.
He said no significant steps have been taken to increase the tax net and enhance revenues for the government exchequer.
Enumerating the achievements of the previous government, Leader of the Opposition in Lower House of the Parliament said PML-N government overcame all the major challenges it inherited in 2013, including law and order situation, energy deficiency and poor infrastructure.
He said CPEC is a project worth over 50 billion dollars and is a strong pillar of Pak-China relations.
He said opposition parties along with the support of people will ensure that this mega project is completed on time.
Shahbaz Sharif said he is not speaking just for the sake of criticism. Rather, they will appreciate and support the government if it takes steps for public welfare.
Responding to allegations of leader of the opposition, Finance Minister Asad Umar said only 10 percent raise has been made in the prices of gas for the poor segments of society. He said the increase is still less than 46% which was suggested by Oil and Gas Regulatory Authority. He said OGRA had indicated that increase in gas prices is critical as the sector was facing a loss of 154 billion rupees.
He said the government has even reduced the thirty percent tax on LPG and brought it down to 10%. He said the increase in fertilizer prices is due to enhanced rates on exporters of Punjab in the previous government. He said PTI government has even reduced the price of gas by 44 billion rupees for the exporters.
On the issue of circular debt, the Finance Minister said the circular debt has reached 1180 billion rupees which was piled up in the previous government’s tenure.
Asad Umar said taxes to the tune of 70 billion rupees in finance bill hit the luxury goods including vehicles of 1800 cc and above, expensive cell phones and imported food stuff, which are not used by ordinary people. He said tax evaders will be brought into tax net and government will actively pursue them.
Finance Minister Asad Umer laid before the House the Finance Supplementary (Amendment) Bill, 2018 for consideration.
Pakistan Electronic Media Regulatory Authority (Amendment) Ordinance, 2018 and Elections (amendment) Ordinance, 2018 were also laid before the National Assembly.