LAHORE: The Finance Minister Aurangzeb presented the Budget 2024-2025 in the National Assembly. Here are some key points in the perspective of an ordinary man.
Budget 2024: From the Perspective of a Common Man
- Government Employees’ Salaries Increased by 25%: Is their performance at 100%? And do they honestly perform their 8-hour duty?
- Budget 2024: No reduction in solar panel prices or duties. When will Pakistani-made solar panels hit the market? When will the public get relief?
- Budget 2024: Proposal to increase tax on mobile phones from 16% to 18%. Drivers, cooks, small shopkeepers, and tandoor workers will be affected.
- Budget 2024: Proposal to increase tax on smartphones to 25%. Smartphones will become expensive for people like me. Proposal to increase tax on non-filers to 45%. Traders from Beadon Road, Mall Road, Azam Market, M.M. Alam Road, and Ferozepur Road are consulting tax consultants and lawyers to find a solution.
- Budget 2024: Tax on private employees’ income has been increased. This is the class that has never protested in their lives. Even if they don’t get paid for two months, they will remain silent.
- Budget 2024: The budget has been prepared according to IMF guidelines. It is subtly being said to be prepared for humiliating inflation, with so many taxes imposed that you will forget about peace.
- Budget 2024: The local car mafia has won. Heavy taxes imposed on imported used and hybrid vehicles.
- Budget 2024: Government to earn 12 trillion rupees, with expenses amounting to 18 trillion rupees.
- Budget 2024: No tax on those with 50,000 rupees, but those with 51,000 to 1 million rupees will be heavily taxed. This tax will provide free cars and protocol to the Chief Ministers, Governors, and their children.
- Budget 2024: Non-filers will also be barred from traveling abroad.
- Budget 2024: Defense expenditure will be Approx. 2,100 billion rupees and pension expenditure will be Approx. 1,000 billion rupees.
- Budget 2024: Real Estate Tax at 15%: This will further devastate an already sinking industry.
- Budget 2024: A flood of inflation is coming, placing an additional burden on the already struggling poor.