Pakistan will head towards betterment, not default: Miftah Ismail

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Finance minister Miftah Ismail has said Pakistan will head towards betterment and not to default.

“We have saved the country from default. The current fiscal year will be remembered for fiscal deficit.

We suffered financial deficit to the tune of Rs 5300 billion during the current fiscal year. We have to borrow money from world countries to meet the deficit.

We obtained loan during the last 4 months equal to 71 years of loan, he said this while concluding debate on budget in the parliament on Friday.

He held Imran government was giving subsidy amounting to Rs `120 billion on petrol and diesel. Imran Khan used to pay tax ranging between one lac and 1.5 lac every year. Imran Khan has paid tax of Rs 9.8 million this year due to Tosha Khana.

He claimed such a farmer friendly budget has never come in Pakistan. We will be self sufficient in edible oil and wheat. Members of parliament have given good advice with regard to budget.

Some changes have come in the budget due to inclusion of budget proposals from parliamentarians. Investment on farming community will give the best return.

He claimed that Imran Khan had taken the country to the brink of default. We have saved the country from default.

He pointed out that current account deficit in the current fiscal year will come to 17 billion dollars. Restarting the IMF program was must to save the country from default.

Credit be given to me and Prime Minster that we have increased the tax on the companies of prime minister sons. Tax will be increased in respect of my company as well.

There are 30000 gold smiths operating in the country. Only 22 among them are registered. Tax will be levied on income only and not on expenses.

He indicated PM has launched inexpensive petrol diesel scheme. 40 lac people have contacted on official phone number.