Emir Jamaat-e-Islami (JI) Hafiz Naeemur Rehman Criticizes Budget 2024-25 Presented by PML-N
In a strong reaction to the budget presented by the PML-N led government, Hafiz Naeemur Rehman of JI criticized the interference of the International Monetary Fund (IMF) in the country’s institutions. He described the budget as a document of IMF slavery with no real improvement in the economy despite multiple IMF programs.
Naeemur Rehman expressed disappointment in the heavy taxation imposed on the salaried class, highlighting the burden on the poor due to high petroleum prices and utility bills. He questioned the government’s failure to bring feudal lords into the tax net, emphasizing the need to address unfair contracts with power producers that lead to expensive electricity rates.
Key Highlights of Income Tax Slabs for 2024
- Income up to Rs600,000 annually is exempt from tax.
- Earnings between Rs600,000 and Rs1.2 million are taxed at 5%.
- Individuals making Rs2.2 million will pay a fixed tax of Rs30,000 plus 10% on the excess amount.
- Earners between Rs3.2 million and Rs4.1 million face a fixed tax of Rs4.3 lakh plus 30% on additional income.
- Income above Rs4.1 million incurs a fixed tax of Rs7 lakh plus 35% on the excess amount.