ISLAMABAD:
After announcing a budget that aimed at increasing taxes on previously exempted sectors, Finance Minister Ishaq Dar appeared to retreat from the stance, announcing reductions for many of the tax increases proposed in his budget speech on June 5.
He also announced a subsidy package for the agriculture sector worth Rs20 billion.
In the final speech of the budget debate in the National Assembly, which lasted just nine days, Dar announced tax cuts on pesticides and poultry feeds, reduced taxation on bank transactions, lowered the increase in taxes on soft drinks, media advertising, and commodities exchange trading, and announced subsidies for phosphorus fertiliser, reportedly.
