Finance Minister Shaukat Train has on Saturday (today) said that there will be no additional tax imposed on the use of internet data and mobile phone calls.
While addressing a press conference post Budget 2021-22 today, Shaukat Tarin said the government has presented a total growth budget and their challenge is to stabilize growth.
Federal Minister for Industries and Production Khusro Bakhtiar, Adviser to the Prime Minister for Commerce and Industries Abdul Razak Dawood and Special Assistant to the PM on Poverty Alleviation Dr Sania Nishtar accompanied him.
Additional tax of Rs500 billion will be collected in the next financial year, said Tarin. “We have to earn dollars by increasing exports and add an additional tax of Rs500 billion in the next financial year,” he said.
The finance minister said they will reach non-filers through electricity and gas bills.
He said, “Big retailers have sales of Rs1,500 billion and sales tax has to be levied on all big stores. Consumers will be rewarded if they get a slip and gave examples of other countries.”
Tarin further informed that Prime Minister Imran has refused the proposal to impose federal excise duty on the use of internet data and mobile phone calls.
“No increase in the tax rate of mobile phone calls, SMS, internet,” said Shaukat Tarin.
Pakistan’s struggle for growth
The finance minister said that Pakistan has to go to the International Monetary Fund (IMF) for help when its position is weak.
“We need 20% growth in exports. Our savings rate is 15% and our investment rate is up to 16%. If we do not have revenue, how will we achieve growth?” he asked.
“People object to how Rs5,800 billion will be collected,” he said, explaining that talks are underway with the IMF.