Decrease in subsidies not to impact poor: Hafeez Shaikh

ISLAMABAD: The debate on the budget for fiscal year 2011-12 has concluded in the National Assembly Friday, Geo News reported.

Finance Minister, Dr Abdul Hafeez Shaikh while concluding the budget debate said that no new taxes have been introduced in the budget infact several other taxes have been abolished. He also said that regulatory duty on 392 goods has been eliminated while no excise duty has been imposed on 100 items.

He added that government expenditures have been decreased by Rs20 billion and federal employees have been given a 15% increase rather than 25%.

Dr Shaikh said that subsidies would be decreased in such a way that it would not impact the poor.

Several PPP members boycotted the Finance Minister’s speech and later came with Rana Farooq after the speech was over. They were protesting against the general sales tax (GST) imposed on agricultural products.