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PTI govt’s Asset Declaration Scheme fetches Rs57.7 billion

August 09, 2019

ISLAMABAD: The government accrued an amount of Rs57,714 million from the Asset Declaration Scheme that was launched to give people an opportunity to declare their undeclared assets by paying a certain amount of tax on it.

However, tax payment of Rs8,081 million under the scheme will be deposited up to 30th June, 2020 along with default surcharge, the Ministry of Finance informed the National Assembly in a written reply on Thursday. It clarified that the main purpose of the Asset Declaration Ordinance 2019 was to document the economy.

The ministry also clarified misperceptions about the price-hike on basic commodities, telling the house that the government was fully cognisant of its responsibility towards improving the everyday life of the common man.

It said the adjustments in prices of different essential commodities and services had not been made at the behest of the International Monetary Fund (IMF) or any other institution. “The prices reflect market forces and rising international prices in case of certain commodities,” it added.

It said the government had taken a number of concrete steps for uplifting living standards of the under-privileged segments of society, adding the Ehsaas Programme had been launched to reduce inequality, invest in people and develop backward areas of the country.

Similarly, it added, the government had substantially increased the allocation to Benazir Income Support Programme to Rs180 billion in current year’s budget as compared to last year’s allocation of Rs100 billion. It said the improved coordination between the federal and provincial governments was also ensuring that commitment towards social sector spending at provincial levels was strong.