After the approval of the Finance Bill, the privileges of the members of the Parliament have been further increased. Their travel allowance has also been increased while the authority regarding salaries and privileges has been transferred from the federal government to the finance committee of the relevant house.
The traveling allowance of the MPs has been increased from Rs10 per kilometer to Rs25 per kilometer while the annual air tickets will be usable in the next year as well instead of being cancelled. The number of annual traveling vouchers has been increased from 25 to 30. These vouchers are used for domestic travel.
The important thing is that the increase in the salaries of the members of parliament will now be done by the standing committees of the National Assembly and the Senate instead of the federal government. Currently, the salary of the member of the assembly is Rs188,000, the allowance for the National Assembly session or the meeting of the standing committee is Rs2,800 per day, Rs2,000 convention allowance and Rs2,000 housing allowance per day. Rs12,700 extra per month will be given on becoming committee chairman.
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On the other hand, a federal minister receives Rs200,000 while a state minister receives Rs180,000 salary per month along with a 1500cc vehicle, 360 liters of fuel, while for luxury vehicles 900 liters of fuel is allowed. Thus, a minister who owns a 1500cc vehicle consumes fuel worth Rs98,000 while the one who owns a luxury vehicle consumes the fuel of Rs245,000.
In case of using personal residence, housing allowance of Rs103,000 is also being given monthly.
As a result, there is a fear of a storm of inflation in the country due to the new federal budget under the preconditions of the IMF. Bringing the raw materials of basic food items, clothes, stationery and medicines into the tax net and increasing the tax on salaries will further increase the hardships of the people.
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For the budget of the current financial year prepared under the IMF conditions, the government has to take additional tax measures.
Fresh vegetables, fruit, spices and dry fruits imported from Afghanistan will be subject to 18 percent sales tax in addition to customs duty, 10 percent sales tax has also been imposed on poultry and animal feed, making imported food items and makeup more expensive.
In the new budget, there has been a big increase in the income tax of the salaried class while GST has been imposed from 18 to 25 percent on the purchase of mobile phones. The petroleum levy on petrol, diesel and high octane will increase by Rs 10 per liter; 5 percent federal excise duty has also been imposed on lubricant oil. The federal excise duty has been increased from Rs2 to Rs4 per kg.
Likewise, the new budget has increased tax rates on real estate for filers and non-filers, and imposed a 15 percent gain tax on property sales.
