Asad Umar asserts new measures will increase unemployment and exacerbate the economic crisis.
Small shops to pay Rs3,000 monthly, big retailers Rs10,000; gold dealers with shops under 300 square feet to pay Rs40,000.
Benchmark index closes at 41,149.16 points, down 3.6pc; analysts say new tax will severely hurt corporate profitability.
Taxes on cement, steel, sugar, oil, fertiliser, LNG, textile, banking, automobiles, cigarettes, chemicals, beverages and airlines.
Sherry Rehman concedes that that the proposed budget for the next year is eventually an IMF budget.
Says govt to close budget in National Assembly tomorrow, castigates Imran for pushing Pakistan to brink of economic collapse.
40 demands for grants passed without cut motion as opposition holds session at assembly building.
Opposition stages token walkout over absence of ministers; Sherry says govt has to take tough decisions to break "debt trap".
House wore deserted look throughout proceedings due to lack of interest from both sides of divide.
Acting president says turnover tax of 1.25pc for traders, dealers is unbearable as profit margins are barely 2pc in market sales.
MNA Mohsin Dawar concerned over rise in terrorism in former tribal areas; PM briefly attends sitting.
With the provincial income estimated at Rs540bn, budget deficit will stand at Rs72.8bn.
Says govt is ready to take more tough economic decisions if need be.
Warn if rights not granted to tribal districts, residents will demand separate province.
Verbal brawl began when PTI’s Dua Bhutto accused male PPP lawmakers of manhandling her in previous sitting.
Says revival of EFF likely in "a day or two", promises to protect those with up to Rs1.2m annual earnings from income tax.
Sources say postponement was either due to PSDP not being finalised, or result of MPAs’ objections on development funds.
Says govt will tax well-to-do citizens but provide relief to the poor.
The provincial government continues to walk on the beaten path that has landed it firmly far behind Punjab.
Despite exaggerated revenue numbers, the province has quite intelligently knitted together populism and reforms.
It is natural for the Hamza Shehbaz administration to propose a fiscally loose budget to please PML-N’s stranglehold.
Gap between revenue and expenditure projections of Fund and government persists.
PTI and its ally PML-Q say the session called at Aiwan-i-Iqbal is illegal.
MMA member also accuses govt of launching projects on CM’s verbal orders.
Opposition lawmakers slam govt for providing no relief to common man.
Says he witnessed same situation during previous govt's tenure but “two wrongs don’t make a right”.
Budget session conducted at a nearby building, Aiwan-i-Iqbal, on the orders of the governor concurrently.
Buzdar air travel cost exceeded Rs351m earmarked in last budget, reveal budget documents.
Estimation errors and weak prioritisation will make the budget a non-starter for the IMF.
LAHORE: The Governor House this year would get Rs589 million, up from Rs483 million last year, which represents a 21...