Finance and Revenue Minister Muhammad Aurangzeb says that the government intends to impose taxes on agriculture and property in any case, if the provinces do not bring agriculture and property into the tax net, the system will not work. 60% of the revenue collected by the federation goes to the provinces.
In a special conversation in today’s news program “Spotlight”, Mohammad Aurangzeb said that we have to see this budget as a road map, Pakistan cannot afford tax to GDP of nine and a half percent, we have to increase it to 13 percent. Must be taken.
He said that people are right that the category of non-filers should be abolished, it will be the only country in the world that has the innovation of non-filers.
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He reiterated his statement that we have raised prices for non-filers to such an extreme level that they will think three to four times whether to remain a non-filer or not. Will do.
He said that the Prime Minister will soon announce that he is taking the digital initiative forward and someone from the private sector will be brought in to head it.
Taxing children’s milk and then giving huge pensions to government officials was the demand of the IMF? In response to this question, he said that there are exemptions of 3.9 trillion rupees in this country, and we have removed some of these exemptions and the IMF has agreed to it and said to remove them, but Where we need it like fertilisers, pesticides, charitable hospitals, medical equipment and stents etc. we said we will remove the exception over time.
He said that the unfunded burden of pension is huge, the pension changes of the armed forces should be brought forward by one year because they have to work on their service structure, some of them retire at the age of 38. Even less.
He said that we have taken the first step and will bring changes in the existing scheme.
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In response to a question, the finance minister said that according to the instructions of the prime minister, we have started talking with the provinces regarding the agriculture and property taxes in the provinces. Going by, we have talked to the provinces that it is not sustainable anymore, which means you have to be proactive now because if you don’t bring agriculture or property into the tax net, it will not be sustainable.
He further said that in the same way there is some cost sharing, like social protection, this also has to be done, by giving to the provinces and paying interest, the rest of what we are doing is borrowing.
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2024-07-07 05:18:12