Institutions running in losses and unnecessary ministries will be closed: Finance Minister Aurangzeb

ISLAMABAD (92 News) – Finance Minister Muhammad Aurangzeb has said that the institutions running in losses and unnecessary ministries will be closed.

Addressing the post-budget conference on Thursday, he said that the government will remove the trust deficit of tax-payers. “People will witness the steps being taken in the next 2-3 months. The government is not increasing levy on the petroleum products. However, the increase will be made after monitoring the international market gradually,” he added.

The minister said that the sacred cow does not pay the tax on income. “Wholesalers and retailers will have to be included in the tax net. About 31,000 retailers have been registered and action will be started against unregistered retailers from July,” he maintained.

He said all stakeholders will be taken along in the privatization process. “Virtual dialogues are underway with the IMF for the new loan. The staff-level agreement is likely to be signed in July. All allies were taken onboard on the budgetary proposals,” he added.

State Minister for Finance Ali Pervaiz Malik said that PM Shehbaz Sharif wanted to give 100 percent relief, but the current economic condition cannot afford it. “For this reason, the path chosen by Shehbaz Sharif is difficult. The government should be given sometime and the people will soon get easiness,” he added.

He said that they had given time to non-filers to come into the tax net. “After digitalization of the system, non-filers will be questioned properly. The tax imposed on the salaried class is still less than the international standard,” he added.

FBR Chairman Amjad Zubair Tiwana said that the non-filers’ SIMs had not been closed deliberately. “All the people were served notices in advance. Cases amounting to over Rs6 billion are in appeals. The government cannot meet the expenditures if taxes are not collected,” he added.

During the press conference, journalists stood and lodged their protest over imposition of tax on salaries.