–Finance adviser says govt won’t impose new taxes in upcoming budget
ISLAMABAD: Prime Minister Imran Khan on Thursday said that the promotion of industries and provision of all possible facilities to the business community was a top priority of the government.
The prime minister stated this while chairing a high-level meeting regarding the proposed budget for the next financial year. Adviser on Finance Dr Abdul Hafiz Shaikh presented a sketch of revenue and expenditures of the ongoing fiscal year and estimates for the next budget.
The adviser gave a detailed briefing about progress on reforms in the Federal Board of Revenue (FBR).
The prime minister said that special attention would be given in the next budget on revival and promotion of the industrial sector affected due to coronavirus. He said the government would ensure the best and effective use of subsidies besides cutting down unnecessary government expenditure.
The prime minister emphasized that the government in the upcoming federal budget would give special attention to curtail non-developmental expenditures. The prime minister stressed the need for ensuring full participation of the private sector in development projects, adding that promotion of public-private partnership was need of the hour.
The prime minister directed the adviser on finance to give final shape to estimate of development expenditures in consultation with the provinces.
Separately, Shaikh told a media outlet that the government won’t impose new taxes in the light of the Covid-19 pandemic. He said there is no plan to introduce new taxes in the upcoming budget. He said the Pakistan Tehreek e Insaf (PTI), the government was well aware of the country’s defense need and for this, all required funds would be provided to the army.
Abdul Hafeez Sheikh said the government would curtail extra expenditures and steps would be taken for proper collection of taxes in the country. To a question about the rising circular debt situation, he said the government owed Rs2 trillion in circular debt.