ISLAMABAD: Finance Minister Miftah Ismail on Wednesday said taxes would be increased in the upcoming budget which would be presented this month.
In a statement, Miftah Ismail said the International Monetary Fund (IMF) wanted to reverse all the subsidies given by the government of Pakistan Tehreek e Insaf (PTI) Chairman Imran Khan.
These actions will put a burden of Rs51 billion on the masses, as inflation has already boosted following a sharp rise of Rs30 a liter in petrol price.
Electricity price has been increased by Rs3.99 a unit, while an approval has been given to provide expensive electricity through additional charges of fuel adjustment every month.
On the other hand, the coalition government has already reduced subsidy on Ghee and cooking oil prices. Ghee price has been jacked up by Rs208 a kilo, raising price of different companies’ ghee to Rs555 a liter. Cooking oil price has been enhanced by Rs215 to Rs605 a liter.
Read more: Shehbaz Sharif issues instructions for restoration of HEC and deduction in Budget 2022-23
Meanwhile, Chairman China Overseas Ports Holding Company Pakistan Zhang Baozhong called on Miftah Ismail in Islamabad.
They discussed and took decisions on important issues related to development of Gwadar port and broadening the mutual cooperation.
Speaking on the occasion, the finance minister termed the development of Gwadar Port and Gwadar Free Zone area as important node of the China Pakistan Economic Corridor, having huge potential for economic development and progress of the region.
He lauded the technical support provided by the Chinese company for development of the region’s most strategically located port of Pakistan.
Zhang Baozhong, on the occasion, expressed his company’s interest in further enhancement of cooperation in the fields of maritime and logistics.
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