KP finance advisor says poverty, unemployment at historic highs in country
\nDLP Report
\nPESHAWAR
\nAdvisor to the KP Chief Minister on Finance and Inter-Provincial Coordination Muzzammil Aslam stated that the stock market has a market capitalization of $66 billion based on the current index (158,000). He added that in 2017, the stock market was valued at $100 billion when the index stood at 50,000. Those who bought shares in 2017 are still facing a 34% loss in dollar terms today.
\nMuzzammil Aslam further said that the government, formed through \u201cForm 47\u201d, claims that the economy is improving, while Pakistan is experiencing historic levels of poverty and unemployment. The Finance Advisor noted that even after seeing the World Bank\u2019s poverty report, the authorities remain unaware, despite the fact that the World Bank\u2019s report echoes what Chairman Imran Khan has been saying.
\nHe said that Pakistan\u2019s economic model is failing in relation to poverty, a point that Imran Khan has repeatedly emphasized. Aslam said one should consider how well Imran Khan understands the ground realities, and how ignorant the current government is.
\nAdvisor to the KP Chief Minister on finance Muzzammil Aslam said that only one week is left in the deadline for filing tax returns while millions have already submitted their tax returns. Now the FBR issued an SRO (Statutory Regulatory Order) requiring that the market value of assets should also be declared. This has caused widespread concern across the country. Muzzammil Aslam said that interestingly, those who have already filed returns will also have to make amendments.
\nMuzzammil Aslam further stated that people already avoid the tax system due to harassment and Pakistan\u2019s globally high tax rates. While the Finance Minister has been promising for one and a half years to simplify the tax return process, the situation is going in the opposite direction. He said that many tax consultants have contacted him and expressed the same concern. He added that this move is illegal, any changes made to a tax return form must be accompanied by at least 90 days of time for compliance. Will the tax return deadline be extended by 90 days?<\/p>\n","protected":false},"excerpt":{"rendered":"
KP finance advisor says poverty, unemployment at historic highs in country DLP Report PESHAWAR Advisor to the KP Chief Minister on Finance and Inter-Provincial Coordination Muzzammil Aslam stated that the stock market has a market capitalization of $66 billion based on the current index (158,000). He added that in 2017, the stock market was valued […]<\/p>\n","protected":false},"author":2,"featured_media":504904,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-504875","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n