ISLAMABAD
\nFinance Minister Muhammad Aurangzeb has said that the government has decided to abolish the concept of \u2018non-filers\u2019.
\nAddressing mediapersons in capital Islamabad, the finance minister said he understood that the salaried class was particularly experiencing financial strain from new taxes. He pledged to offer relief to salaried individuals once any financial respite becomes feasible.
\nHe also argued against the category of \u201cnon-filers,\u201d expressing confidence that government initiatives will eventually make the categorisation obsolete.
\nHighlighting key economic improvements, he stated that the country\u2019s foreign exchange reserves stand at $9 billion, and inflation has reduced from 38% to 12%.
\nThe repatriation of dividends to international companies, which is crucial for attracting foreign direct investment, is complete.
\nThe FM revealed that the World Bank approved $1 billion for the Dasu project, and the International Finance Corporation (IFC) sanctioned $400 million for PTCL, to be received in the next fiscal year. The Federal Board of Revenue (FBR) achieved tax collections of Rs 9.3 trillion, reflecting 30% growth.
\nEmphasising macroeconomic stability, he noted the FBR\u2019s complete digitisation, which will enhance efficiency and curb corruption through technological advancements.
\nFollowing this, Aurangzeb assured that all tax refunds up to June 30, 2024, amounting to over Rs 50 billion, would be disbursed within the next two to three days, along with the Duty Drawback of Local Taxes and Levies (DLTL) refunds. The FM mentioned that 42,000 retailers are now registered and will be taxed from July 1, reiterating his stance on eliminating the \u2018non-filers\u2019 concept.
\nAddressing the inflation-struck masses, the finance minister said, \u201cI completely understand the stress that people from different sectors feel about additional taxes; I completely empathise and sympathise, but we need to work for it.\u201d
\nHe emphasised the government\u2019s commitment to reducing the burden on common people and businesses by curbing leakages and improving the management system.
\nAnnouncing a new pension system for civil employees effective immediately, with the military to follow next year, Aurangzeb expressed optimism about the upcoming agreement with the IMF, expected in July.
\n\u201cThe IMF program is our assurance in terms of macro stability. We are taking it forward; it is inevitable. I\u2019m very optimistic that we\u2019ll be able to take it through the finish line for an Extended Fund Programme which is going to be larger and longer in nature,\u201d he told reporters.
\nThe cash-strapped federal government adopted a Rs 18.9 trillion budget laced with tax-raising measures to secure a new IMF bailout after almost defaulting last year.
\nThe finance minister concluded by stating that the recent resolution on Pakistan in the US Congress is unrelated to the IMF program, and discussions with IMF officials during his US visit were satisfactory.
\nThis final IMF program will span three years and be valued between $6 to $8 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Finance Minister Muhammad Aurangzeb has said that the government has decided to abolish the concept of \u2018non-filers\u2019. Addressing mediapersons in capital Islamabad, the finance minister said he understood that the salaried class was particularly experiencing financial strain from new taxes. He pledged to offer relief to salaried individuals once any financial respite becomes feasible. …<\/p>\n","protected":false},"author":4,"featured_media":63495,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[75],"tags":[],"class_list":["post-66678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/66678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=66678"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/66678\/revisions"}],"predecessor-version":[{"id":66703,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/66678\/revisions\/66703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/63495"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=66678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=66678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=66678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}