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What is in the federal budget for the common man? – IG News

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What is in the federal budget for the common man?

From July 1, federal government employees will be given 10% ad hoc relief, pensions have also been increased by 10% while the minimum wage will be Rs 20,000. Exemption from holding tax is also being given.

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It is proposed to increase the regulatory duty on the import of mobile phones, excise duty is being levied on phone calls for more than 3 minutes, internet usage and imposition of excise duty on SMS has also been decided.

Presenting the budget, the Finance Minister said that from July 1, 10 percent ad hoc relief will be given to federal government employees, from July 1, pensions will also be increased by 10 percent, the minimum wage will be Rs 20,000.

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Shaukat Tareen said that according to the budget document, ارب 1.10 billion would be spent on the import of corona vaccine and 100 million Pakistanis would be vaccinated by June 2022.

According to the budget document, it has been decided to abolish withholding tax on international transactions through bank transactions, Pakistan Stock Exchange transactions, air travel services debit and credit cards. Imports of books, magazines, agricultural implements and cars up to 850 cc are also being exempted from holding tax.

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According to the budget document, the annual turnover limit is being set at Rs 10 million to facilitate small businesses.

Rs 20 billion has been earmarked for PIA and Rs 16 billion for steel mills. Rs 54 billion has been allocated for the development of FATA districts that are integrated into Khyber Pakhtunkhwa.

According to the budget document, excise duty is being imposed on mobile phone calls lasting more than three minutes.

It has also been decided to impose excise duty on internet usage and SMS. It has been decided to increase the regulatory duty on the import of mobile phones.

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