The National Assembly on Wednesday approved the Finance Bill 2022–23, which gives the proposed budgetary amounts for the upcoming fiscal year legal effect.
Dr. Aisha Ghous Pasha, Minister of State for Finance and Revenue, proposed all of the revisions. After a two-hour wait, the House’s business got underway with Speaker Raja Pervez Ashraf in charge.
The amendment to charge a fee of Rs. 50 on petroleum goods was also passed by the House. In addition, the House adopted amendments that would tax IT and software consultants’ services by 5% and collect sales tax from merchants via electricity bills. After going over the law clause by clause, a majority vote was required to pass it. Almost no one opposed the bill’s passage, which is similar to the previous year. The government’s decision to approve the budget for the fiscal year 2022–2023 brings it one step closer to beginning the International Monetary Fund (IMF) program.
