close
Wednesday July 06, 2022

IMF seeks additional Rs440bn taxes: Tarin

Shaukat Tarin said the IMF has asked the Pakistani government to impose further taxes of Rs440 billion

By Our Correspondent
June 24, 2022
Former finance minister Shaukat Tarin speaking at the Senate of Pakistan floor on June 23, 2022. Photo: Screengrab of a Twitter video.
Former finance minister Shaukat Tarin speaking at the Senate of Pakistan floor on June 23, 2022. Photo: Screengrab of a Twitter video. 

ISLAMABAD: Former finance minister Shaukat Tarin said Thursday the International Monetary Fund (IMF) has asked the Pakistani government to impose further taxes of Rs440 billion.

“The actual budget will be unveiled now,” the ex-finance minister told the Senate after the Washington-based lender and Pakistan reached a “broad agreement” on the budgetary and fiscal measures for the next fiscal year FY2022-23.

The PTI leader, speaking on the floor of the Senate, said the Upper House of Parliament is fulfilling formalities by debating the budget as the “actual budget” will be presented in the National Assembly after it is tuned in line with the IMF’s demands, reported Geo News.

Meanwhile, in his reaction to Finance Minister Miftah Ismail’s news conference, Tarin Thursday alleged that the government was lying on the state of economy and misleading people by distorting facts.

Tarin noted that it has been repeatedly stated that Imran Khan's government was lying on the economy, whereas the Economic Survey report, which they signed, explains the best performance of the PTI government. “Highest agriculture, GDP, industrial sector, record remittances during the PTI government. Who are they fooling that Pakistan was on the stage of going bankrupt in our time. This government is misleading only and only the people by manipulating the figures,” he charged.

He said this year's fiscal deficit was still Rs4.55 trillion. "Rupee has come down due to their inadequacy and they are facing failures because of their stupidity."

“Our budget was progressive, while the present one is a white lie. The budget is full of taxes, relief is nowhere to be seen. We had given relief to the people by launching projects like Successful Youth, Health Card, Ehsaas Programme, but this government has stopped these projects,” Tarin noted.

The government, he pointed out, is taxing those who are already paying taxes and while "we kept zero tax on petrol, now they will impose 17% sales tax." This government is also going to levy Rs50 on petrol; it will bring a storm of inflation. "Inflation will not come down, it is going to go up, besides the discount rate will also go up."

Comments