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

Islamabad: The Senate of Pakistan has approved recommendations for the federal budget 2024-25, asking the government to fix the minimum monthly wage of workers at Rs 45,000.

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

The recommendations include a 50 percent reduction in indirect taxes and an increase in direct taxes. The Senate recommended the government to exempt 660 cc cars from customs duty like electric cars.

The upper house also recommended that taxes imposed on the construction sector be abolished. Other recommendations include introduction of one-window operation for overseas Pakistanis to invest, uniform taxation on imported and domestic solar panels and reduction of taxes on eight items of stationery.

The Senate also recommended the federal government to identify organizations pretending to be charities to evade taxes. The upper house also demanded exemption from tax on poultry feed to curb the rise in chicken prices.

The Senate also recommended a reduction in GST on certain medical devices and medicines.

Earlier, the Finance Ministry had indicated to accept most of the budget recommendations presented by the Senate.

According to media reports, important progress has been made regarding the approval of the Finance Bill by the Senate of Pakistan.

This decision was taken in a meeting between Finance Minister Muhammad Aurangzeb and Senate Standing Committee on Finance Chairman Salim Mandviwala.

Sources say that in the meeting, Muhammad Aurangzeb and Salim Mandviwala discussed issues related to the approval of the budget.

Senator Salim Mandviwala apprised the finance minister about the senator’s complaints on the budget. The Chairman of the Senate Standing Committee on Finance demanded some amendments in the Finance Bill.