Finance Minister Ishaq Dar has moved before the House the Finance Bill, 2016 to give effect to the financial proposals of the federal government for the financial year beginning on the first day of July, 2016 and to amend certain laws.
Discussing the finance bill 2016 the opposition members urged the government to enhance the ratio of direct taxes in order to provide relief to the common man. They said the taxation mechanism could only be improved by introducing reforms in the FBR.
The members said efforts should be expedited for the recovery of the amount stashed illegally by Pakistani nationals in Swiss banks. They were of the view that Pakistan can pay off all its loans and launch mega projects with the recovery of two billion dollars from the Swiss banks.
Highlighting the significance of China Pakistan Economic Corridor project, the opposition members said the government should give special emphasis to the development of Gwadar. They said training programs should be launched for the youth of Gwadar so that they could fully take advantage of the opportunities to be generated by the deep sea port.
The opposition members said the finance bill, 2016 envisages no relief measures and demanded that salaries of government employees be enhanced by at least twenty percent.