ISLAMABAD: The mini budget will be presented in the National Assembly today. An 18-point agenda of the National Assembly session to be held this evening was released.
According to details, the National Assembly will convene at 4 pm today at Parliament House, Islamabad. The 18-point agenda of the meeting also includes the approval of the mini-budget.
According to the agenda, Federal Finance Minister Shaukat Tarin will present the Finance Supplementary Bill 2021 in the National Assembly session which will be discussed between the opposition and the government.
Read more: PM Khan to address budget session of National Assembly today
The Third Amendment Ordinance on Elections and the Power Generation, Transmission Amendment Ordinance 2021 will be extended. Speaker National Assembly Asad Qaiser will preside over the National Assembly session. The mini-budget approved today will increase taxes on more than 1,700 items.
As per the News, it is not yet known whether the government would impose a standard GST rate of 17 percent on POL products or not because if the whole GST rate and petroleum levy were jacked up to Rs30 per liter in phases, then the storm of inflationary pressures might touch new heights.
It seems that the government would make last-ditch efforts to protect the POL products from the maximum rate of GST. Currently, the government was charging a minimum amount of GST on POL products.
The government has finalised a draft of Tax Laws (Fourth) Amendment Bill 2021 for abolishing almost around 100 tax exemptions as a standard rate of 17 percent GST would become applicable with approval of Parliament.
