The federal government has decided to present the budget in the first week of June.
Minister of State for Finance Ayesha Ghos Pasha has told in this regard in the meeting of the Senate Standing Committee on Finance that the budget numbers are being finalised, increasing the tax net is the need of the country.
He said that there is an effort to shift from indirect taxes to direct taxes, direct taxation will reduce the burden on the common man.
Minister of State for Finance Ayesha Ghos Pasha said that in the next budget we will impose direct tax, tax to GDP ratio is very low in Pakistan.
They say that tax exemptions have a negative impact on the economy, we have to increase the tax-to-GDP ratio, the situation will remain difficult until the tax-to-GDP ratio reaches double digits.
Ayesha Ghos Pasha said that they are in touch with IMF, finance division and FBR are talking with IMF.
He said that the IMF is moving forward to complete the program, wants to continue the program with the IMF.
The Minister of State says that we have paid the political price by staying in the IMF program, we are trying hard to reach an agreement with the IMF.
He further said that the tax net will be increased by controlling the smuggling, controlling the budget deficit will be a big relief for the people.
Minister of State for Finance Ayesha Ghos Pasha also said that they will try to give relief to the people even in difficult economic conditions.
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