President Zardari gives assent to tax-laden finance bill

President Asif Ali Zardari on Sunday gave assent to the government’s tax-heavy Finance Bill 2024 for the new fiscal year. The government had presented the budget two weeks ago, drawing sharp criticism from opposition parties, especially the PTI, as well as coalition ally PPP. Finance Minister Muhammad Aurangzeb had moved the finance bill in parliament, which had been opened to seek amendments and debate by the ruling alliance led by Prime Minister Shehbaz Sharif and its opposition. Opposition parties, mainly parliamentarians backed by currently incarcerated former premier Imran Khan, had rejected the budget, saying it would be highly inflationary. Earlier this week, the PPP — which had initially boycotted the debate over the budget — decided that it would vote for the finance bill despite certain reservations. On Friday, the National Assembly passed the budget with some amendments. The motion was preceded by fiery speeches from the opposition, who described the budget as unrealistic, anti-people, anti-industry, and anti-agriculture.