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Jun 06, 2020 PRINT EDITION
Pakistan

Govt not to introduce any new tax in upcoming budget: Hafeez

 He said the negative impact of coronavirus was also affecting our national economy like other countries. 
 He sa
  • He said the negative impact of coronavirus was also affecting our national economy like other countries.
  • He said basic objective of the government was to provide relief to the people in the next budget.

ISLAMABAD: Adviser to the Prime Minister on Economic Affairs Abdul Hafeez Sheikh Monday said the government would not introduce any new tax in the coming budget.

Talking to a private news channel, he said the government would have to do work hard in coming days to reduce the budget deficit to nine per cent.

He said the negative impact of coronavirus was also affecting our national economy like other countries, adding the government was trying to reduce its expenditures by adopting austerity measures.

The adviser said the present government had inherited 20 billion dollars in budget deficit which had reduced at three billion dollars through adopting prudent policies.

He said basic objective of the government was to provide relief to the people in the next budget, adding duties going to be decreased on many things in the coming budget.

He said due to hectic efforts of the State Bank of Pakistan reserves had increased 12 billion dollars but unfortunately foreign remittances were decreased by six percent due to coronavirus.

In the 72 years' history of the country, we were failed to enhance exports of the country, he added.

Replying to a question, he said the government would give package in upcoming budget to those sectors which were increases economic activities and generate employment opportunities in the country.

He said the government was trying to give cash economic aid to the people through the physical stimulus package, adding Rs12,000 per person was being distributed among the unemployed people under the Ehsaas Programme.

To another query, he said the government would try to maintain petroleum prices at the certain level.