Islamabad February 20 2023: National Assembly passed the Finance Supplementary Bill 2023 to impose additional tax revenue measures of PKR 170 billion in order to meet IMF requirement for unlocking USD 1.2 Billion funds.
The Finance (Supplementary) Bill, the 2023, was introduced in National Assembly on 15th February 2023 and was transmitted to the Senate in terms of proviso to clause (1) of Article 73 of the Constitution. The Senate has sent to recommendations within the stipulated period, The National Assembly has passed the said Bill today, the 20th February, 2023, with certain amendments which have been incorporated in the Bill.
Finance Minister Ishaq Dar stated in the National Assembly that he appreciates the proposals of the members regarding the supplementary finance bill, but the supplementary finance bill had to be brought under compulsion, I am grateful to participate in the debate on the supplementary finance bill of the House.
He further said that having considered the budget proposals of honorable members, we were also not keen on imposing taxes, tried to keep the rate of additional taxes to a minimum.
Ishaq Dar told the House that excise duty has been increased on business class air travel abroad, excise duty has been fixed at PKR 2.5 lakh on business class ticket to South America.
The finance minister further said that the excise duty on business class and first class tickets of Africa has been fixed at 75 thousand rupees, while the excise duty on air tickets of European countries has been fixed at 150,000 rupees.
Ministry of Law and Justice is requested to kindly vet the above Bill before its final printing for the purpose of obtaining the assent of the President.
