No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut
No Result
View All Result
No Result
View All Result

‘Cannot provide relief to middle-class in upcoming budget’

News Desk by News Desk
June 10, 2022
in Business, Featured, Latest News, National, Top News
Reading Time: 1 min read
‘Cannot provide relief to middle-class in upcoming budget’

ISLAMABAD: On Thursday, Finance Minister Miftah Ismail, Planning & Power Ministers Ahsan Iqbal and Khurram Dastgir unveiled the Pakistan Economic Survey 2021-22. The panel talked about the upcoming budget and made it clear that the middle class would not get any relief or subsidy in the upcoming budget (to be presented today).

Miftah was focussed more on lashing out at the PTI government rather than discussing how the agriculture and service sectors aided in the 5.97 per cent economic growth. However, the finance minister shed some light on negotiations with the International Monetary Funds (IMF) and said that both parties would soon reach a staff-level agreement.

Regarding salaries, the government has decided to increase the pensions and salaries by 12 to 15pc. According to the finance minister, the previous government had pushed the budget deficit to Rs5.1 trillion. He added that minimising tax distortion and applying exemptions will be the core targets of the forthcoming budget.

Miftah also clearly said that government could not give subsidies to the middle-class sector as people earning less than Rs40,000 were getting petrol subsidies.

The survey revealed that during PTI tenure, the unemployment rate escalated. Across the country, 12.2pc people aged between 24-20 were jobless. During 2018-19 this rate was 11.8pc. Overall, countrywide, the unemployment rate stood at 6.3pc.

News Desk

News Desk

Related Posts

Payoneer Hosted “Game Leaders Connect 2025” to Power Global Growth for Pakistan’s Gaming Industry
Business

Payoneer Hosted “Game Leaders Connect 2025” to Power Global Growth for Pakistan’s Gaming Industry

July 1, 2025
CBD PUNJAB STRENGTHENS ACADEMIA-INDUSTRY LINKAGES WITH BAHRIA UNIVERSITY STUDENT VISIT
Business

CBD PUNJAB STRENGTHENS ACADEMIA-INDUSTRY LINKAGES WITH BAHRIA UNIVERSITY STUDENT VISIT

June 13, 2025
Zindigi and LDA Launch Plantation Drive to Promote a Greener Future in Lahore.
Business

Zindigi and LDA Launch Plantation Drive to Promote a Greener Future in Lahore.

June 10, 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TOP NEWS

Killed

Young trader killed during robbery bid in Karachi

by News Desk
December 2, 2024

A 22-year-old trader was tragically shot dead during a robbery attempt on New M.A. Jinnah Road on Sunday evening, according...

KSE-100 index lose over 500 points as PSX experiences negative trend

PSX soars over 1,200 points amid optimism on inflation and interest rate cuts

by News Desk
December 2, 2024

The Pakistan Stock Exchange (PSX) maintained its bullish momentum on Monday as the benchmark KSE-100 index surged 1,248.84 points, or...

PTI suspends Islamabad protest following deadly clashes, appeals for justice

PTI suspends Islamabad protest following deadly clashes, appeals for justice

by News Desk
November 27, 2024

The Pakistan Tehreek-e-Insaf (PTI) announced the suspension of its Islamabad sit-in early Wednesday after a day of intense clashes in...

PSX in boorish trend for second consecutive day; benchmark KSE-100 index lost over 700 points

KSE-100 Index surges over 600 points amid banking sector rally

by News Desk
November 25, 2024

Bullish sentiment dominated the Pakistan Stock Exchange (PSX) on Monday as the KSE-100 index climbed 621.85 points, or 0.64 per...

The Upcut is a news platform that brings you the latest news, developments from all walks of life, from all over the world. We cover Business, news from Pakistan and rest of the world, Sports, and Entertainment. You can also read Tech Reviews and How-To Guides for simple solutions and dailylife hacks.

BUSINESS   |   NATIONAL   |   WORLD   |   SPORTS   |   ENTERTAINMENT   |   TECH   |   HOW-TO GUIDES

  • Home
  • About Us
  • Privacy Policy
  • Editorial Guidelines
  • Contact Us
  • Stories

Copyright © 2022 The Upcut. All rights reserved.

No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut

Copyright © 2022 The Upcut. All rights reserved.

Go to mobile version