Finance advisor to Prime Minster (PM) Shaukat Tareen has said all the taxes on petrol have been abolished after agreement with International Monetary Fund (IMF) and all the befit accruing from reduction in prices of oil will be transferred to the people.
“ if we will not to provide re-finance then we will have to do some other thing. Our paisa is undervalued by Rs 10, he said this while addressing a ceremony under Karachi Stock Exchange here Friday. “
Our problem is lower middle class as the lower middle class is in miserable plight. Our problem is inflation not the poverty. As per World Bank poverty has lowered by one percent in the country. In US inflation has reached the level of 9 percent. US have taken action on oil price. The price is coming down”, he held.
He observed we will not allow the taxes to be raised. No new tax will be levied nor will the taxes be increased. Only exemption in taxes will be abolished. All the taxes on petrol have been scrapped. All the benefit from the reduction in oil prices will be shifted to the people.
He underlined that no heed should be paid to the rumors. No reduction in the value of the rupee will be made. Whosoever are thinking that they will earn from dollars I warn them they will have to suffer when the dollar will come down.
He went on to say we have to develop agriculture sector. We are providing subsidy of more than Rs 150 billion to fertilizer companies under the head of gas. Is this subsidy reaching the farming community. But we will ensure it.
He remarked SMEs are back bone of every countr7. There are 400000 to 500000 SMEs in the country.
We want SMEs get claim credit in easy way, he stated.
We have collected data under Ehsas program, he pointed out. Government has come to know about haves and haves not. Data is available.
Enhancement in tax ratio and bringing new tax payers fore is a good omen. We will have to restore the trust of people on stock market. A 20 percent increase in the registration of companies has been witnessed as compared to past, he indicated.
I am not opposed to construction sector and the investment in this sector is being seen, he underscored.
