Islamabad: Interior Minister Sheikh Rasheed in a press conference today has stated that mini budget will put a burden of Rs 2 billion on nation.
The approval of the SBP Amendment Act is part of the government’s previous actions to meet the IMF conditions before the IMF Executive Board conducts the sixth review of the expanded fund mechanism.
The SBP Amendment Act proposes to extend the term of the President of SBP from three to five years, divided into two terms. However, whether it will apply to the current SBP President remains to be determined.
At the same time, another bill, the (fourth) amendment to the tax law originally scheduled to be submitted to the Cabinet, was postponed. The main reason behind the postponement was the resistance of the allies of the PTI-led regime, who insisted that the government trust them.
The government postponed the tax law (fourth) amendment bill, but two federal ministers confirmed to the news that the bill will be approved by the Cabinet Special Committee on Wednesday (today) or Thursday within the next 48 hours.