Yet another mini budget on cards from PTI government

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Yet another mini budget on cards from PTI government

ISLAMABAD - Yet another mini budget is on cards from the PTI government in a bid to bridge the gap of the increasing revenue shortfall.

Federal government is considering major revenue measures including raising the GST rate on POL products, slapping tax on the telecom companies, reversing the tax relief for salaried class by 50 percent and increasing the tax rate on cigarettes by reviewing the existing third tier taxation system. The jacking up of additional custom duty by 1 percent is also among the proposals floated by the FBR to achieve the revenue targets.

The Federal Minister for Finance Asad Umar is currently visiting abroad so after his return the government could take final decision on finalising additional revenue measures to bridge the yawning revenue shortfall within the next couple of weeks.

So another mini budget is on the cards which the government will have to unveil before approaching the IMF with the request to seek another bailout package.