Finance Minister Ishaq Dar pledged yesterday, for not allowing anyone to make artificial hike in prices in the name of budget
While addressing the post-budget news conference to explain salient features of the budgetary proposals in Islamabad on Wednesday, Ishaq dar said amendments can be made in the budgets on getting good suggestions.
The Minister said an EXIM bank on the pattern of China and the United States would be established adding that its paid up capital would be Rs. 10 billion.
Ishaq Dar informed that additional tax revenue worth Rs.231 billion envisaged in the budget for the next financial year would not impact the common man. He pointed out that elimination of some SROs next year would help raise additional revenues of 103 billion rupees. He said remaining tax would be realized from new tax assesses.
The Finance Minister said there are 2.5 million retailers in the country but just a few thousands are registered. In the sales tax system He said chain stores and shopping centers would be bring in the sales tax system compulsorily.
According to finance Minister, retailers who were consuming electricity worth Rs. 50,000 or above will have to pay extra 7.5 per cent tax.
