The National Assembly on Monday passed the Finance (Supplementary) Bill, 2023, proposing additional taxes and duties of Rs. 170 billion, paving the way for the staff-level agreement with the International Monetary Fund (IMF).
Winding up discussion on the bill, Finance Minister Ishaq Dar said the government fully realizes people’s problems due to rising inflation but is compelled to take tough measures to strengthen the economy.
The finance minister highlighted that the government has allocated an additional amount of Rs. 40 billion for the Benazir Income Support Programme (BISP), through which the stipend of BISP beneficiaries will be increased.
Regarding austerity measures, the minister said that the prime minister will soon announce a comprehensive policy to reduce government expenditure. The House rejected all the amendments moved by the opposition.
More to follow.