Mini-budget recommendations approved by federal cabinet


ISLAMABAD: The recommendations for the mini-budget on Tuesday was approved by the federal cabinet.

The approval came during a meeting chaired by Prime Minister Imran Khan in presence of Finance Minister Asad Umar, finance secretary and other officials who briefed the members on recommendations for the mini-budget.

It was reported that reforms in the Federal Board of Revenue (FBR) and the income tax exemption slabs during the previous government were discussed during the meeting.

Recommendations were presented for levying taxes, including super tax, worth Rs158 billion and reducing the development budget by Rs450 billion.

Moreover, PM Imran directed the cabinet to ensure “the common man is not affected by the new taxes”.

Measures for bringing down the budget deficit from 6.6 per cent to 5 per cent were also discussed.

Following the cabinet’s approval, the mini-budget was presented in the National Assembly.