Federal Budget 2019 Highlights – Budget 2019-2020
1. Almost every tax has been increased to 17%.
2. PM and the Cabinet have not decided to reduce their salary substantially even during these times of austerity.
3. Pakistan’s rank in ease of doing business will fall further in the global list.
4. No funds have been allocated for innovation and technology, as if traditional businesses were raking up dollars for us.
5. We will be building dams for electricity while other countries are destroying these eco-destructive edifices. Who cares if we have infinite supply of solar and wind energy, we won’t invest in it.
6. According to Pakistan Bureau of Statistics Trimmed Core Inflation stood at 7.5% and the increase in salaries has been 10%-5% for employees of the state.Who cares about private employees, they can die in debt after paying all those additional taxes imposed by the state.
7. The state does not care about the number of dependents or lack of assets, you have to pay income tax if you earn 600,000 rupees annually.
8. Sindh does not need cheap housing scheme, that is reserved for other deserving provinces that give the most tax.
9. Karachi will be given money but you are not supposed to know for what and when.
10. Tourism has been ignored once again by the government.
11. Getting money into Pakistan has become more difficult after this budget.
I am utterly disappointed. Instead of increasing avenues of revenue generation by increasing ease of business, this government wishes to retrieve every last bit of saving with the common man. They are allocating funds to reduce poverty by offering easy money through Ehsas scheme where as these people should be taught skills to earn for themselves. All these policies will make the people even more poor. It seems that the whole government has been employed to collect taxes this year and do nothing else.