The GDP growth rate in the upcoming budget was reset at 5 percent, up from 4.2 percent previously approved by the Federal Cabinet on April 13. Likewise,
ISLAMABAD: Former minister for finance Dr Hafeez A Pasha has raised different objections over the calculation of GDP growth figures and said that the last fiscal year growth was finalised at.
• Forecasts 20pc rise in government revenues
ISLAMABAD: Finance Minister Shaukat Tarin on Sunday said the coming budget, expected to be unveiled on June 11, would ensure putting tax evaders behind bars after nabbing them through third party audits, technology and other innovative means.
He promised that there would be no more electricity tariff increase and additional tax burden on the people already taxed.
At a virtual news conference, the minister said that government revenues would be enhanced by over 20 per cent or about Rs1 trillion this year to reach closer to the targets given by the International Monetary Fund (IMF). Government expenditures would be controlled through targeted subsidies and circular debt payments would be stretched out to secure some breathing gap for 3-4 years along with plans for an increase in economic growth rate to 7-8pc to absorb additional capacity.
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May 24, 2021
ISLAMABAD: Ruling out the possibility of committing ‘manipulation’ for jacking up the GDP growth figures, Minister for Finance Shaukat Tarin has said the government would get the desired fiscal space from the IMF to avoid burdening masses more in the upcoming budget.
“The IMF will allow us fiscal space to adopt the bottom-up approach as the government plans to shift benefits of inclusive growth to general masses instead of waiting for trickle-down effects,” the minister said while replying to a query whether the IMF will show a lenient attitude for the coming budget while addressing a virtual news briefing here on Sunday.
No plan to further tax salaried class, says Tarin
Top Story
May 24, 2021
ISLAMABAD: Ruling out the possibility of committing ‘manipulation’ for jacking up the GDP growth figures, Minister for Finance Shaukat Tarin has said the government would get the desired fiscal space from the IMF to avoid burdening masses more in the upcoming budget.
“The IMF will allow us fiscal space to adopt the bottom-up approach as the government plans to shift benefits of inclusive growth to general masses instead of waiting for trickle-down effects,” the minister said while replying to a query whether the IMF will show a lenient attitude for the coming budget while addressing a virtual news briefing here on Sunday.