February 23, 2023 (MLN): President Arif Alvi on Thursday granted approval for the Finance Supplementary Bill 2023, as per the provisions of Article 75 of the Constitution of Pakistan.
This important development marks a significant step forward in the country's economic policy and represents a critical milestone in the government's efforts to unlock the IMF program.
On Monday, the National Assembly passed the Finance (Supplementary) Bill 2023, seeking to levy additional taxes worth Rs170 billion, albeit with minor amendments.
During the presentation of the Bill, Finance Minister Ishaq Dar attributed the economic burden on the masses to the previous PTI regime's poor economic policies and mismanagement in the power. sector.
The government had already enforced taxes worth Rs115 billion through two notifications issued on Feb 14, before the bill's presentation in the parliament on Feb 15.
Now, with the formal assent of President Arif Alvi, the remaining Rs55 billion in tax measures will also take effect.
