Nothing wrong with taxing the rich; Country’s financial situation is now stable
Finance Minister Miftah Ismail on Thursday said that Pakistan has been “saved from bankruptcy” after increasing the prices of oil and diesel.
Addressing a press conference flanked by Information Minister Marriyum Aurangzeb, he termed the budget proposals “historic”. Miftah said that the current government has provided relief to poor people by shifting burden of taxes on rich people.
Miftah Ismail said taxes would be further increased on rich people having income above 150 million rupees. Miftah maintained “We saved Pakistan from default by increasing the prices of petroleum products. The government has reached an understanding with the IMF over the budget’s measures.” While he added that the financial situation of the country is stable now.
The minister said that he will deliver the winding-up speech of the general discussion on the federal budget for the fiscal year 2022-23 in the National Assembly and then they will close the budget. “It is a historic budget as we have neither increased indirect taxes nor imposed taxes on commodities or consumption,” he added.
