Increase in petroleum product prices will further increase inflation, says Finance Advisor to Pakhtunkhwa
Peshawar: Khyber Pakhtunkhwa Finance Advisor Muzammil Aslam has said that the salary class has been made fun of in the name of relief in the federal budget.
Khyber Pakhtunkhwa Finance Advisor Muzammil Aslam, in his reaction to the federal budget, said that there is only 2,000 monthly relief for those earning 1.2 million annually, only about 4,000 monthly relief for those earning 1.8 million, and only 18,000 relief for those earning 3 million.
Khyber Pakhtunkhwa Finance Advisor said that the country’s middle-class population is devastated due to inflation and taxes. If inflation has decreased, how has poverty increased? According to the World Bank, 45 percent of Pakistanis have fallen below the poverty line. A carbon tax has been imposed in the budget to increase the prices of petroleum products.
Muzammil Aslam said that inflation will increase further due to the increase in the prices of petroleum products. A surcharge will be imposed on electricity rates to eliminate circular electricity debts.
He said that 18% tax on solar imports is an injustice to the poor people, tax on bank and mutual fund profits has been increased by 15 to 20%, the government is saying that the economy has improved, but the development funds in the budget are only Rs 1,000 billion, while last year a development budget of Rs 1,400 billion was given.
Muzamil Aslam said that the PSDP does not include any development plan for Khyber Pakhtunkhwa, only Rs 540 million has been allocated for Khyber Pakhtunkhwa out of the Rs 1,000 billion development funds. Nothing has been allocated for the devastated agriculture and industry in the budget, and 18% tax has been imposed on online shopping.
