Mini Budget 2018: Finance Minister Asad Umar proposed changes

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Pakistan Tehreek e Insaf leader and Finance Minister Asad Umar proposed amendments in the federal budget.

Finance Minister Asad Umar presented Mini Budget 2018 and proposed some key changes.

Mini Budget 2018 Key Points

  • Rs5 billion relief provided to export industry.
  • Duty on expensive mobile phones to be increased.
  • WHT on banking transactions for non-filers increased to 0.6 per cent.
  • Non-filer will be able to buy vehicles, property.
  • Govt withdraws decision to increase petroleum development levy.
  • Minimum pension increased to Rs10,000.
  • Duty on 1800cc and above vehicles set at 20 per cent.
  • Health card system will be introduced across Pakistan.
  • Sehat Ka Insaf programme for FATA.
  • Increase of Federal Excise Duty on luxury cars.
  • Development projects worth Rs50billion in Karachi through public-private partnership.
  • End of tax rebate on allowances for PM and Ministers.
  • Increase of taxation on tobacco products.
  • Increase of taxation on tobacco products.
  • No decrease in budget allocated for CPEC projects.
  • No tax on annual income till Rs 1,200,000.

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