While holding a post-budget press conference in Islamabad, the Finance Minister said that we tried to provide more relief to the low-paid class, reduced the 5 percent tax on salary to one percent and reduced 15 percent to 13 percent, while we received good feedback on the high salaries and surcharge measures.
He said that taxes have been reduced in the construction sector, agricultural credit on agriculture has increased by 15 percent, the volume is more than 2 trillion, the fertility scheme is progressing well, small farmers will not be asked to mortgage their houses, the volume of the youth loan scheme is 262 billion rupees, of which 125 billion is for agriculture, customs duty, additional customs duty, regulatory duty on importing agricultural machinery from abroad have been reduced to zero.
The Finance Minister said that we have moved towards economic development, this year there has been significant progress in the economic sense, the economy is moving in the right direction, we will move towards growth from economic stability.
He further said that in the budget, we have worked for the tax and export system, an additional subsidy of Rs 70 billion has been given, an effort has been made in the budget to take feasible steps to increase exports, customs duties have been abolished for agricultural machinery, the volume of loans provided to the agricultural sector has exceeded Rs 20 billion, there is pressure on energy infrastructure and it will continue for some time in the next financial year. Muhammad Warangzeb said that the provinces are grateful for the assistance of the center, this facility will continue for the next three financial years.