KARACHI: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin, while talking to the media here on Friday, said that no increment in taxes would be made by the government in the forthcoming mini-budget but the government would withdraw specific tax exemptions.
“When I came [as finance minister], I had said we will not allow an increase in taxes. We will not allow [the IMF] to impose more taxes on people who are already paying them,” stated Tarin.
On the speculations regarding demonetisation of the rupee, the adviser said that any step that affected the business would not be taken.
“We are taking some steps because of which the rupee will go on the other side. They (speculators) will be badly defeated so don’t get into this kind of speculation. Rupee will move on both sides,” he said.
He further added that the government has supplied subsidised gas with no imposed tax to the fertiliser industry, and through the Ehsaas programme database, farmers will receive direct subsidies from the government.
Tarin also revealed that the power tariff would also be subject to an increase in the next few months. However, he said that the details will be shared only after studying the level of circular debt.
What is clear, though, is the fact that Pakistan will likely undergo another grip of severe inflation if the country is to receive the third tranche of the IMF loan.