Pakistan: Although the Pakistan government has secured a loan of 7 billion dollars from the IMF, the entire burden of this loan is being borne by the middle class salaried class employees.

Related Articles

Bangladesh: During the ‘Echoes of Revolution’ being held in the capital Dhaka, student leader Sarjis Alam came on the stage and raised slogans demanding the hanging of Sheikh Hasina and demanded justice for those martyred in the movement.

8 hours ago

Pushpa 2; Box Office Collection: Allu Arjun’s ‘Pushpa 2’ storm did not subside even on the 18th day, did a business of Rs 33.25 crores on the 18th day, know how far is the film from the target of 2000 crores?

9 hours ago

Pakistan: Pakistani security forces killed 11 suspected militants, including a commander of the banned Tehreek-e-Taliban Pakistan (TTP), in two operations in the restive Khyber Pakhtunkhwa province.

9 hours ago

Although the Pakistan government has secured a loan of 7 billion dollars from the IMF, the entire burden of this is being borne by the middle class salaried class employees. According to media reports, in the first quarter of the current financial year, the salaried class of Pakistan has paid a tax of 11 thousand crores, which is 1,550% more than the tax paid by the favorite businessmen of the ruling party.

Pakistan has collected a tax of 11 thousand crores in the first quarter of the financial year starting from July, which is 56% i.e. about 4 thousand crores more than the same period last year. Between July and September last year, the Pakistan government had collected a tax of Rs 7100 crore from the salaried class.

Pakistan: Tax was increased in June
The Shahbaz Sharif-led government has made an unexpected increase in tax for the salaried class in June this year. Instead of cutting down on expenditure or bringing non-taxable sectors under the tax net, the government has increased the tax rate for the salaried class by about 40 percent. The government had set a target of collecting revenue of $47 billion for the current financial year, due to which the general public, especially the middle class, is bearing the burden.

Paid 1550% tax as compared to businessmen

At the same time, in the budget, the Pakistan government has increased the salary of government employees by 20 to 25 percent. In the tax of Rs 11 thousand crore collected from the salaried class, the contribution of government employees is only Rs 2800 crore, the remaining Rs 8300 crore has been collected from private sector employees who do not get any significant increase in salary every year.

Apart from the salaried class, if we talk about the tax collected from businessmen, it is very less. Pakistan’s Federal Board of Revenue (FBR) has collected only Rs 670 crore tax from businessmen. The tax collected from government and private employees is 1550% more than this.

More tax collected than FBR estimated

In the midst of skyrocketing inflation, the Pakistan government has increased taxes heavily instead of giving relief to the people. In the last budget, the Shahbaz government increased the tax by 39 percent on the salaried class and by 50 percent on the non-salaried class. FBR Chairman Rashid Lambriyal himself has called it injustice. The FBR had estimated that after the tax hike done by the government, Rs 8500 crore more tax would be collected from the salaried class than last year. Whereas in the first quarter of the current financial year itself, the Shahbaz government has succeeded in collecting 4000 crore more tax from the salaried class.

Pakistan has received the first installment of a loan of 7 billion dollars from the IMF since last month. For this loan, the IMF had asked the Shahbaz government to increase taxes and close several ministries. The government of Pakistan became rich by taking loan from IMF but the people have to repay this loan by paying more tax.