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Budget 2016-2017

The budget for the year 2016 and 2017 have been announced by the Federal Government of Pakistan. This budget proposed a great increase in the direct and indirect tax rates. These direct and indirect taxes would make the lives of the non-filers of income tax returns, simply pathetic. All the new clauses of the tax will limit the tax-free cash withdrawal facility and banking transactions ease to just one account.

Unfortunately, once again, the government has not been able to keep their promise of “tax-free” budget”. According to the initial analysis, this budget will readily increase the prices of milk, stationery, cars, construction materials, insurance premiums, etc. Due to all these reasons, there would be the further squeeze in the take-home incomes of the people.

The government failed to calculate the sum of additional taxes along with the other taxes imposed on the people. 16% federal excise duty (FED) has been withdrawn from certain services, such as CCTV-Cable TV, banking companies, shipping agents, cooperative financing societies, insurance companies, franchise services, stock brokers and others.

Immense unfairness is being done to the milk consumers by withdrawing zero-rated status of milk and fat-filled milk. It will cause more problems for the people consuming milk every day. On the other hand, tax on the import of mobile has also been increased. Summarizing the entire budget, there are various forms of financial difficulties, which are being created for the salary earning man and nothing has been quite done to improve the standard of living.

Afreen is a young writer and visionary towards life predominantly. I believe that writing is similar to life; it inspires surprises and creates. Being a Literature Masters, I am passionate about viewing the world with literary spectacle. Solely in love with this beautiful part of Universe called Pakistan, I am creating words and ideas for CharchaGuru.

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Budget 2016-2017

The budget for the year 2016 and 2017 have been announced by the Federal Government of Pakistan. This budget proposed a great increase in the direct and indirect tax rates. These direct and indirect t...