KP Minister for Revenue Qalandar Khan Lodhi on Monday said except for opposition political parties every Pakistani was praising the federal government fiscal budget 2021-22 which has provided a huge relief to every business sector and employees despite challenges in wake of COVID-19.
While talking to the media here, the minister said that it was the vision of Prime Minister Imran Khan that for the first time in the history of the country a leading delegation of farmers have met with the PM to acknowledge steps taken by the incumbent government which lead to a bumper wheat crop this year.
Tax and duties reduction for 850 CC and below vehicles and Stock Exchange would bring a huge change in the sales and volume of business in the country where the middle class would be able to purchase new cars at an affordable rate, Lodhi said.
While replying to a question the minister stated that in KP, government has waived off 2% Capital Value Tax and only 2% was charged on mutation and registry, resulting in an increase in the duties collection whereas the target was Rs. 4.4 billion and the revenue department has collected Rs. 5.8 billion in just 10 months.
Keeping in view the performance of the government, it has set a new target of Rs.10 billion for the next fiscal year, hoping that it would be achieved.
Qalandar Khan Lodhi said the government has also offered interest-free loans for starting businesses and farm inputs for the youth which was promised by the government, adding, Ehsaas cash transfers allocation was also increased which would benefit more than 12 million families in the country.
He said although Pakistan’s stock exchange was one of the best performing stock exchanges in the world due to the good financial and fiscal policies , the federal government also slashed Capital Gains Tax to further boost the business in this sector. He stated that for the last four years the results were very positive due to all these initiatives.
Qalandar Lodhi said to facilitate masses the federal government has also introduced universal health coverage through Sehat cards which would provide free medical facilities to millions of people as the masses of KP were enjoying Sehat Insaf Card with Rs. one million to each family.
Talking about salary increase, the minister said despite the economic crunch due to the outbreak of Coronavirus, the federal government has provided a 10 percent increase in pay and pension of government employees.
To promote women entrepreneurs the federal government has also introduced a tax relief for them which would increase the opportunities for the women entrepreneurs, he added.