There will be no increase in pension and salaries of government employees in Pakistan this fiscal year
Electricity, gas tariffs will increase, sales tax, income tax, withholding tax will also increase
ISLAMABAD ( Web News )
Pakistan has asked the International Monetary Fund (IMF) not to increase the pension and salaries of government employees in the current financial year, to change gas prices on half-yearly basis, sales on textile and leather sector. According to private TV Tax, assured to impose 5 rupees per kg federal excise duty on sugar. According to the report released by the International Monetary Fund (IMF), Pakistan has increased sales tax, advance income tax, withholding tax and According to the documents, Pakistan has told the IMF that they will not increase the pensions and salaries of government employees in the current financial year, thus improving the priorities in the federal development budget to the tune of 61 billion rupees. They will make savings. They will fulfill their promise not to issue any supplementary grants except for natural calamities. According to the documents, they will try to minimize the subsidy burden by increasing the energy prices in a timely manner and if the target of tax collections is not achieved, it will not be felt. According to the documents, the FBR has told the IMF that it will collect the full tax from sectors like retails, property, construction and digital markets, thus increasing the sales tax for textile and leather sectors from 15 percent. 18 percent will be levied a federal excise duty of five rupees per kilogram on sugar for eight billion rupees per month and one percent advance income tax on import of machinery, one percent on import of industrial raw materials. More on contracts, services, supplies. One percent withholding tax, one percent tax on commercial importers will also be imposed and door-to-door campaign will be launched to encourage non-filers to file. According to reports, the caretaker government has come up with a plan to end subsidies in the energy sector in two years. It has been given to the MF that the government subsidy on tube wells in Punjab, Sindh and KP will be abolished from the next financial year. Thus, in the second phase, it is intended to abolish one-fourth of the cross subsidy on tube wells. Various options are being worked on and cross-subsidy on gas to fertilizer sector will be removed by March. While cross-subsidy on export will be removed and made equal to non-export industry to meet power generation cost as per the documents. The prices of local gas and imported RLNG will be equalized. A transaction advisor will be appointed by April to hand over the management control of DISCOS to the private sector. Twenty-five hundred feeders need to be introduced independent monitoring system to avoid the worst losses. According to the report. In the year, the circular debt of gas increased by Rs.2084 billion.