Budget 2024-25: Senate recommends Rs 45,000 minimum wage

ISLAMABAD: The Senate of Pakistan approved recommendations for the federal budget 2024-25, asking the government to fix the minimum monthly wage for labourers at Rs 45,000, ARY News reported.

The upper house approved 128-point recommendations presented by the Senate Standing Committee on Finance Chairman Saleem Mandviwala.

The recommendation also included the reduction of indirect taxes by 50 percent and an increase in direct taxes. The Senate also recommended the government to exempt 660 CC cars from customs duty just like the electric cars.

The upper house also recommended that taxes on the construction sector must be abolished. The other recommendations included the introduction of a one-window operation for overseas Pakistanis to invest, imposing uniform taxes on imported and local solar panels and the reduction of taxes on eight stationery items.

The Senate also recommended the federal government to identify organisations pretending to be charity bodies to evade taxes. The upper house also demanded an exemption of taxes on poultry feed to avert an increase in chicken prices.

The Senate also recommended the reduction of GST on some medical equipment and medicines.

Earlier, the Finance Ministry hinted at accepting most of the budget recommendations put forward by the Senate.

Sources privy to the development said that a significant progress was made regarding passage of the Finance Bill from the Senate of Pakistan.

The decision was taken in a meeting between Finance Minister Muhammad Aurangzeb and the Senate Standing Committee on Finance Chairman Saleem Mandviwalla.

The sources said that during the meeting, Muhammad Aurangzeb and Saleem Mandviwalla discussed issues related to the budget passage.

Senator Saleem Mandviwala apprised the finance minister about the Senator’s grievances on the budget. The Senate Standing Committee on Finance chairman demanded some amendments to the Finance Bill.