ISLAMABAD: Finance Minister Muhammad Aurangzeb has firmly rejected traders’ calls for tax withdrawal, stating that every sector of Pakistan must contribute to taxes.
“We will provide every possible facility to traders, but the tax will not be withdrawn,” the Finance Minister said during a press conference in Islamabad.
Aurangzeb assured that traders’ legitimate demands would be addressed, but reiterated that the tax would not be withdrawn. He emphasized that no country can prosper without paying taxes.
He reaffirmed the government’s stance, explaining that withdrawing income tax from traders would unfairly shift the burden onto the salaried class and the manufacturing sector.
The minister also dismissed rumors regarding an increase in withholding tax.
Addressing the agreement with the IMF (International Monetary Fund), the Finance Minister said the lender had no objections to targeted subsidies. He noted that subsidies could be provided to deserving individuals through the BISP (Benazir Income Support Programme).
He further mentioned that discussions will be held with the chief ministers this week to finalize a uniform policy. A national financial agreement will be prepared in consultation with the provinces later this month.
The minister also stated that talks for loan rollovers are in the final stages with friendly countries, and their institutions will soon inform their governments of the developments.
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