The minister said that the budget will have out-of-the-box solution to keep inflation in check
Finance Minister Shaukat Tarin said that the government will look to boost revenue without taxing the already taxed and stressed the electricity consumers. The budget for FY21-22 will be presented in mid of June.
Tarin said that the government will meet the IMF’s requirement of 5.9 trillion rupees in tax revenue, an additional 1 trillion in taxes, will be raised without transferring the burden on to the existing taxpayers.
“Preparations for the budget are underway and we are planning on bringing out-of-the-box things this year,” he said in a briefing. “The government’s focus will now be on reducing inflation.”
The finance minister also said that the GDP growth rate was at 3.94%. “A strong V growth despite being in a tough IMF programme, which was necessitated by unsustainable current account deficit and falling foreign currency reserves, and a vicious COVID-19,” tweeted Tareen.