The PML-N President says that the opposition will try its best to convince the government and its allies to rethink about presentation of mini-budget next week, saying that it will have detrimental effects on the nation.
LAHORE: (UrduPoint/Pakistan Point News-Dec 11th, 2021) PML-N President and Opposition Leader Shahbaz Sharif strongly opposed the move of mini-budget, saying that its approval would be national suicide.
Shehbaz Sharif said that Pakistan economic sovereignty was under trouble.
“The opposition will make a plan to halt the presentation of a mini-budget, ” said Shehbaz Sharif while talking to the reporters in Lahore on Saturday.
He said that mini-budget was death knell for Pakistan, vowing that they would try their best to make the government and its allies realize that effects of mini-budget would be detrimental. He said that the countrys economic sovereignty was under threat.
Shehbaz Sharif said that presenting a mini-budget is equal to treating cancer with aspirin, emphasising that the government should not present the IMF-prepared mini-budget.
He went on to say that a tsunami of change engulfed the country, jobs and happiness of the people, pointing out that they were not able to get relief from the fall in oil prices in the world market.
He also came down hard upon the PTI government, saying that the prices of electricity, gas, and commodities had "increased further." The PTI government was all set to table a mini-budget before the parliament next week in order to meet the conditions set by the International Monetary Fund (IMF) for the revival of its $6 billion loan.
GST exemptions are likely to be struck down and tax would be increased on import of mobile phones, computers, silver/gold, different articles of jewellery, re-meltable scrap, LPG and other products.
However, it is not clear yet that whether the government would impose a standard GST rate of 17% on POL products or not because if the whole GST rate and petroleum levy were increased up to Rs30 per litre in phases, the new heights of inflation would be awaiting.
