PM Shehbaz imposes Super-Tax on multiple sectors

Islamabad: A super-tax of 10 per cent has been imposed by Prime Minister Shehbaz Sharif on industries and large-scale manufacturers. Mr Sharif said that step had been taken due to tough economic conditions.

He added that the new tax would be applied to textile, energy & terminal, fertilisers, oil & gas, sugar, cement, and steel industry. The banking and cigarette sector will also face the super-tax.

According to the prime minister, the groups who earn Rs150 million annually will pay 1pc tax, and those earning between Rs200 to Rs250 million will pay 2-3pc tax. He further explained that a 4pc tax would be imposed on those having an annual income of Rs300 million.

Mr Sharif added that the new reforms would steer the nation to progress. He also said that nation would fight back to come out of these crises.

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