Summary Dar stated that cutting back taxes on petroleum products will result in a setback of Rs. 80 billion.
ISLAMABAD (Dunya news) – The Federal Minister for Finance Ishaq Dar on Thursday stated that the government cannot cut defense budget due to the ongoing Zarb-e-Azab operation against the terrorists. The Finance Minister said that due to the operation the repayment of debts cannot be stopped nor the salaries of employees can be reduced. While explaining the receiving of additional general sales tax (GST) on petroleum prices, Dar also stated that the prices of petroleum in Pakistan were the least compared to rest of the countries in the region.
Ishaq Dar stated these facts during an address to the National Assembly (NA).
According to the details, the meeting of NA was presided by Speaker Ayaz Sadiq. Ishaq Dar entered the Assembly after 3 days of protests by the opposition. The Minister for Finance while addressing the Assembly stated that petroleum prices have been reduced by Rs. 37.67 from August 2014 to up until now. Dar stated that cutting back taxes on petroleum products will result in a setback of Rs. 80 billion. Steps have been taken for this reason to recover Rs. 28 billion from this 80 billion.
The Minister for Finance stated that 106.845 million dollars have been received in total for internally displaced Pakistanis (IDP’s). Dar also also highlighted that Khyber Pakhtunkhwa (KP) had been given Rs. 86.996 billion to stop and prevent terrorism.
