No new tax to be imposed in upcoming budget: Abdul Hafeez

ISLAMABAD: Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh on Thursday assured that no new tax would be introduced in the budget 2020-21.

“The government will fulfill the defense needs of the country as defense and security is priority of the government,” he said while talking to local news channel. 

To a question, he said there was no shortfall in power generation as 25000MW electricity was being produced whereas country’s demand was 15,000 MW.

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To another question, he said Pakistan’s economy would recover soon.

The Federal Board of Revenue had collected taxes and duties of 227 billion rupees during March.

According to a statement of the FBR, 3,518 billion of revenue had been collected by March the following year, with an increase of 7.7 percent compared with the 3,266 billion collected till May last year.

The FBR has managed to collect 90 percent of total revenue target of 3908 billion for the current Financial Year despite Corona Virus outbreak, slowdown in economy and impact of lockdown on businesses.