Finance Minister breaks silence over reports of new taxes in upcoming federal budget

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Finance Minister breaks silence over reports of new taxes in upcoming federal budget

ISLAMABAD – Finance Minister Shaukat Tarin shot down the rumours of imposing new taxes in the upcoming budget.

The newly appointed minister said the government would enhance the growth rate in the next fiscal year and going to introduce innovation in resource mobilization. Adding that we would not burden the taxpayers and tariff would not be further increased.

Responding to the speculations about the upcoming budget, Tarin mentioned that the premier has great sympathies for the masses and he does not want to add more burdens amid the Covid crisis.

He further added that the government would focus on the increase in exports in the next fiscal year and incentives would be given to productive sectors including textile, agriculture, Information Technology, and manufacturing.

Earlier today, Tarin while speaking in a budget webinar said ‘government revenues this month will cross Rs4 trillion which will be the first such record in the history of Pakistan.

The ongoing Covid pandemic pushed Pakistan's economic growth rate to negative last year. The incumbent government introduced a fiscal stimulus. A liquidity stimulus was given by the state bank to all businesses.