Former finance minister Dr. Hafiz Pasha has said that the govt. will impose more taxes worth PKR 900Bn in budget FY21 under the IMF deal. He said that the govt. has assured IMF that it would impose PKR 700Bn in additional taxes in the 1st year, PKR 900Bn in the 2nd year and PKR 1,200Bn in the 3rd year. He stressed the need for developing the country’s tax system as Pakistan is offering PKR 1,200Bn worth of concessionary taxes to the elite which holds 80% of bank accounts. He said that Pakistan has to pay PKR 2Tn in debt servicing this year and PKR 3Tn next year.
10/03/2020