Islamabad: In a bid to relieve the poor from the burden of additional taxation, Prime Minister Shehbaz Sharif announced the imposition of a “super tax” of 10% on large-scale industries.
The announcement was made by Prime Minister Shehbaz Sharif, who, after chairing a meeting of his economic team during which important decisions were taken related to the budget 2022-23, said that he wanted to take the nation into confidence over the measurements being taken by the coalition government to stabilize the economy.
Giving details about the industries, the PM said that the super tax would be imposed on industries including cement, steel, sugar, oil and gas, fertilizers, banking, textile, chemical, beverage, tobacco and automobile.
According to the PM, the move will reduce the tax burden on the general public.
The prime minister urged the affluent sections of society to come forward and share the burden.
Regarding the International Monetary Fund (IMF) programme, he said, “if the IMF does not put forward any other conditions, I am hopeful that we will be able to reach a staff-level agreement with them soon.”
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He further added that the coalition government has taken some “daring” decisions after mutual consultations to provide relief to the people; however, the premier admitted the nation would witness difficulties in the short-run.
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