Passage of Finance Bill to resolve Pakistan’s financial difficulties: Fawad

Web Desk

14th Jan, 2022. 10:21 am
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ISLAMABAD: Minister for Information and Broadcasting Chaudhry Fawad Hussain on Friday said the passage of the Finance (Supplementary) Bill, 2021, would not only resolve the financial difficulties faced by the country but also help deal with the deficits.

“After the passage of this bill, there is no obstacle now in the way of the International Monetary Fund (IMF)’s programme worth $2 billion,” he said, Radio Pakistan Reported.

He said it would also make overall five to eighteen billion dollars financial lines available to Pakistan.

The National Assembly had on Thursday passed ‘the Finance (Supplementary) Bill, 2021’ to amend certain laws relating to taxes and duties.

The bill moved by Minister for Economic Affairs Omar Ayub was aimed to achieve efficiency, equity in the tax system, broadening of the tax base as well as documentation of the economy.

The House had rejected all the amendments moved by the opposition members with a majority vote. The Muttahida Qaumi Movement had also withdrawn their amendments on the assurance of Finance Minister Shaukat Tarin.

Meanwhile, the NA had passed the ‘The State Bank of Pakistan (Amendment) Bill, 2022,’ as well.

The bill is aimed to facilitate domestic economic stability, support sustainable growth and avoid repeated booms and busts that have characterized Pakistan’s past and led to painful consequences in terms of higher inflation, higher poverty and lower growth.