ISLAMABAD: The relief measures announced in the budget for 2022-23, despite severe financial constraints, have drawn a positive feedback from experts and the masses alike.
Almost all major segments of society have got their fair share of benefits in the new budget, including slashing of duties on solar panels (17% to zero) to help the people generate their own power, withdrawing sales tax on tractors (5% to zero) and seeds (17% to zero) to boost agriculture, and expanding the reach of Benazir Income Support Programme (BISP) to Rs 364 billion.
All these measure have come at a time when, according to a recent World Bank report, the global economy is heading towards a recession, with prices of fuel and food hitting an all time high, amidst the war in Ukraine, supply chain disruptions and recent Covid-related issues.
The government, despite the odds, introduced a number of budgetary measures aimed at correcting economy in tandem with providing relief to all segments of the society, including industrialists, businessmen, farmers and most importantly the downtrodden.
Targeted subsidies have been announced to protect them with the increase in BISP’s allocation from Rs 250 billion to Rs 364 billion this year that will benefit nine (09) million families.
Despite several financial constraints and the fact that higher education is a devolved subject, the government allocated Rs 65 billion for the Higher Education Commission (HEC) in the current budget to promote higher education,...
Read Full Story: https://www.pakistantoday.com.pk/2022/06/12/budgetary-relief-measures-draw-public-experts-appreciation/
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