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Mini budget: Out of 343 billion, only 2 billion tax exemption for common man has been abolished, Finance Minister said

The Supplementary Finance Bill 2021 was introduced in the National Assembly today on which the opposition strongly protested.

The National Assembly session has been adjourned till 11 am on Friday. Addressing a press conference after the meeting, Federal Minister for Finance Shaukat Tareen said that the talk of increasing the burden on the people with the supplementary finance bill was baseless.

He said that a total of Rs 343 billion tax exemption has been abolished out of which Rs 112 billion tax exemption on machinery has been abolished, Rs 160 billion tax exemption on pharmaceuticals has been abolished and Rs 71 billion on import of remaining luxury items. Tax exemption has been abolished. Tax refunds will be available on machinery and pharma industry.

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