Prime Minister Shehbaz Sharif has said that important decisions have been taken regarding the budget, no green garden will be shown, 10% super tax will be imposed on big industries.
Talking after presiding over the meeting of the economic team, Prime Minister Shehbaz Sharif said that the worst corruption took place in the Imran Khan government and the economy was going bankrupt.
He further said that 10% super tax will be levied on major industries, cement, steel, sugar industry, oil and gas, fertilizer, banking industry, textile, automobile industry, chemicals, and beverages will be levied 10% super tax, general Industries are taxed to save man from taxes.
He said that Pakistan’s economy has to be stabilized, if there is no further condition from the IMF, then we will have an agreement.
Prime Minister Shehbaz Sharif said that the coalition government made big bold decisions in consultation. These decisions will create difficulties in the short term.
“Those earning Rs 150 million a year will be taxed at 1%.”
1 % tax to be levied on income more than Rs 150 million
Prime Minister Shehbaz Sharif has also said that 1 per cent tax will be levied on income of those earning more than Rs 150 million per annum, 2 per cent on income above Rs 200 million per annum, 3 per cent on income above Rs 250 million per annum and 4% tax will be levied on income above Rs 300 million per annum.