Ishaq Dar terms budget jugglery of words, hails 10% cut in Ministers salaries

ISLAMABAD, June 05: Former Finance Minister and senior PML-N leader Ishaq Dar has termed the federal budget for the year 2010-11 as a jugglery of words.

Commenting on the federal budget 2010-11 presented by the Finance Minister Dr Abdul Hafeez Sheikh in the National Assembly here Saturday, former Finance Minister criticized the government for not announcing wealth tax.

He said the government should have allocated more amount in different sectors as it had to give a supplementary grant of Rs. 350 billions to the provinces in different sectors

Ishaq Dar welcomed 10% cut in the salaries of the Ministers; however, said the government should have cut the cabinet size to 50% as was agreed in the charter of Democracy and suggested in the 18th Amendment.

He said the government should have announced increase the ratio of withholding tax. He added the agriculture sector should also be brought under the tax net

The PML-N leader welcomed delaying imposition of VAT till October saying that giving deadline by the foreign financial institutions for implementation of some taxes is against the country’s sovereignty. He proposed that reforms should be made in the GST instead of implementation of VAT.

Ishaq Dar said the PML-N would give more suggestion on the budget during debate on the budget in the parliament.