PM Khan to chair Cabinet meeting, present Mini-budget

The Federal Cabinet will consider an 18-point agenda in a meeting chaired by Prime Minister Imran Khan. The meeting will consider the political, economic, and coronavirus situation to date. The first national security policy will likely be presented in the federal cabinet, including a briefing on the progress of EVM and i-voting.

According to reports, the Cabinet will approve the appointment of the Board of Directors of the House Building Finance Company (HBFC). Approval of the Inter-Board Coordination Commission Act in principle is also on the Cabinet agenda. In addition to this, the Cabinet will approve the formation of an inquiry commission in the Sajid Majeed Chaudhry case. The Cabinet will also look into the appointment of a full executive member of PEMRA who will be approved to form joint investigation team under the Anti-Terrorism Act as part of Cabinet agenda.

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CDA project plan, in collaboration with the Gandhara Heritage Culture Center and the Citizens Club, and a post-official implementation of the Maritime Affairs plant in Gwadar, will be approved. The appointment of an executive member of the National Medical Authority will be approved including recommendations for changes in the manufacture of medicines.

Moreover, approval of Pakistan’s cooperation with Cuba to deal with Coronavirus is part of the agenda. The Pakistan Planning and Management Institute bill will also be presented to the Cabinet for approval. The resignation of the Chairman and Member of the SECP (Securities and Exchange Commission of Pakistan) and the appointment of a new member and the nomination of a renowned Economist in the Monetary and Fiscal Policy Coordination Board will be approved.

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Meanwhile, Finance Ministry spokesman Muzammil Aslam has claimed that the new budget would not lead to a new wave of inflation. The abolition of tax exemption on mobile phones imported clothes and shoes will have no effect on the common man. It may be recalled that in the recent negotiations with the International Monetary Fund (IMF) for the government loan, it was decided that the government would eliminate tax exemption of Rs.350 billion through the mini-budget.

According to Muzammil Aslam, the common man will not be affected by the mini-budget. He argued that if Rs.350 billion tax was levied on petroleum products, then the public would say that inflation will increase, but what difference will the imposition of tax on mobile phones, imported clothes and shoes make on the common man? Even if luxury items like pens, watches, and iPhones become expensive, there will be no surge in inflation.

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He added that the IMF board would meet on January 12 to finalize the agreement with Pakistan. Therefore, the government wants to get the mini-budget and SBP autonomy bills passed by the parliament before then.

In this regard, Information Minister Fawad Chaudhry said that after the approval of the Cabinet, the mini-budget will be presented in the Parliament for approval on Wednesday. When the budget is approved, the opposition starts making disruptions. The PTI government went to the IMF because of the problems created by Asif Ali Zardari and Nawaz Sharif. At present, the world is gripped by inflation.

On the other hand, opposition groups have called for the ‘beleaguered PM’ to resign. This is the IMF’s mini-budget which has nothing to do with the people of Pakistan? PML-N leader Shahid Khaqan Abbasi has said that taxes of Rs.500 billion are being levied in the mini-budget.

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An important meeting of the parliamentary committee of PML-N was held yesterday under the chairmanship of Shahid Khaqan Abbasi. Issues related to mini-budget, finance bill, and SBP’s autonomy were discussed in detail. The party strategy regarding the mini-budget was also decided in the meeting.

Talking to the media after the meeting, Shahid Khaqan Abbasi and Maryam Aurangzeb said that the government is going to impose a tax of Rs.500 billion in the mini-budget which will affect every Pakistani.

PML-N spokesperson Maryam Aurangzeb said that the mini-budget that the government is bringing will pave way for a tsunami of inflation. The opposition has come up with a complete plan to bulldoze the mini-budget, she added.

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