NA approves federal budget for the fiscal year 2021-22

NA approves federal budget for the fiscal year 2021-22

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Islamabad: The National Assembly meeting on Tuesday approved the budget for the next fiscal year.

The Lower House of the Parliament will resume its session tomorrow at 11:30am.

Prime Minister Imran Khan as well as former president Asif Ali Zardari and PPP Chairman Bilawal Bhutto-Zardari are attending today’s session.

The Finance Bill 2021-22 is being discussed clause by clause in the House. A resolution to present the budget for approval was adopted after vote count following an objection from an Opposition member over verbal voting. 

Taking the floor, Finance Minister Shaukat Tarin said the targets set in the budget 2021-22 will be achieved.

He said it is the first budget which has given a roadmap to uplift four million poor households by providing interest free loans to them. He said these households will also be provided with Sehat Insaaf Cards and equipped with technical skills.

The Finance Minister said the core inflation stands at seven percent. He admitted that the prices of food items have increased which is so because the agriculture sector was ignored in the past.

He said that we are spending 620 billion rupees to upgrade this important economic sector. He said that we are also providing the sector with exemptions worth billions of rupees on fertilizers and pesticides. He pointed out that the provincial government is also spending on agriculture.

Shaukat Tallinn said that we must increase the tax-to-GDP ratio to 20% in order to promote the country’s economic development. He said that we do not believe in harassment, but will take action against those who deliberately breach the contract.

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