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Tarin says no new taxes in mini budget

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Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Friday said the government will not impose any new taxes in the upcoming ‘mini budget’, but it will withdraw some tax exemptions given to various sectors to increase revenue.

Talking to media persons in Karachi, the finance adviser said that as per an agreement with the International Monetary Fund (IMF) reached in March this year, the government had agreed to generate Rs700 billion in taxes to receive the third tranche under the IMF loan programme.

“When I became the finance minister, I had said we will not increase taxes. We will not allow [the IMF] to impose more taxes on people who are already paying them.”

During the talks, the finance ministry did not budget on more taxation, he said, adding that the government convinced the IMF to bring down the revenue target to about Rs300b.

Regarding the exemptions, the IMF’s point of view holds ground, he said..

 





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