Minister highlights no new tax hallmark of the financial budget for 2020-21

Minister highlights no new tax hallmark of the financial budget for 2020-21.

In a video message, Foreign Minister Shah Mahmood Qureshi said the government reduced the burden on the masses.

Minister highlights no new tax hallmark

He called no new tax the hallmark of next year budget. Instead, he cited, government reduced the burden on the masses through cutting taxes, duties and tariffs.

The Foreign Minister said our effort aimed at improving the tax collection system.  Govt wants to improve it through reforms in the FBR.

He said the government is trying to generate economic activity in the country.

And for this purpose sectors such as agriculture, construction given priority to create job opportunities for the people.

He referred to allocation of ample resources in the budget for the agriculture and construction of water reservoirs.

Shah Mahmood further cited allocation of Rs10 billion to cope with the challenge that locusts posed.

He noted incentives given to the construction industry to enhance the growth.

The Foreign Minister said our effort aimed to take the economy out of negative to the positive mode.

He said no cut has been made on the public sector development program keeping in view the growth factor.

Shah Mahmood Qureshi said despite the nefarious designs of India, we have not increased the defense budget.

He said this is a big decision and the armed forces have extended full cooperation to us keeping in view the current economic situation.

The FM noted enhancement of the allocations for Ehsaas Program from 178 billion rupees to 208 billion rupees to support the weak and disadvantaged segments of the society.

Meanwhile, he pointed out that the Paris Club has provided some relief in the form of suspension of payment of loans.

He said relief from other financial institutions will enable us to divert resources to job creation and poverty alleviation.