People not to face new taxes in next FY budget: Hafeez Sheikh

ISLAMABAD: The people fighting against coronavirus pandemic in the country would not have any new taxes in next fiscal year budget.

These views were expressed by Advisor to Prime Minister on Finance Abdul Hafeez Sheikh, in an interview with a private news channel programs.

He said there is no plan to introduce new taxes in the upcoming budget.

He said the Pakistan Tehreek e Insaf (PTI), government was well aware of country's defense need and for this, all required funds would be provided to this sector.

Commenting on power shortage, he said no shortfall in power generating sector was reported anywhere in the country.

However, he claimed that we have sufficient amount of units of electricity to fulfill demand of the consumers.

He said some 25000 MW electricity was being generated in the country while we have 15000 MW demand in Pakistan.

Abdul Hafeez Sheikh said the government would curtail extra expenditures and steps would be taken for proper collection of taxes in the country.

To a question about rising circular debt situation, he said we are bearing burden of Rs. 2 trillion circular debt.

To another question, Advisor said Pakistan's economy would produce better results as soon as coronavirus situation is over in the country.

Hafeez Sheikh said the virus pandemic had hit all most all the countries around the world and these developed nations were also passing through economic recession period.