ISLAMABAD, Pakistan: The Pakistan Muslim League-Nawaz (PML-N)-led coalition government has decided to impose the 10 percent “Poverty Alleviation Tax” on large-scale industries of the Country.
In a video message after chairing a meeting of his economic team in Islamabad on Friday, the prime minister said that tax has been imposed on industries including cement, steel, sugar, oil and gas, fertilizer, banks, automobiles, and cigarette.
The prime minister said that teams will be formed to collect the tax after the passage of the budget bill.
Shahbaz Sharif said that the government is proposing 4 percent poverty alleviation tax on the people who earn Rs 300 million annually while 3 percent who has annual income over Rs 250 million, 2 percent on people earning over 200 million, and 1 percent tax will be imposed on the people who earn over Rs 150 million annually.
PM @CMShehbaz chaired an early morning meeting on Poverty Alleviation.
its time for our affluent segment of society to step up and support citizens struggling during these tough economic times.
— Salman Sufi (@SalmanSufi7) June 24, 2022
The prime minister expressed the hope that soon Pakistan will come out of the economic crisis and announced to provide relief to the poor segment of society.
In addition, he regretted that Rs 2,000 billion tax is evaded annually. He said that the coalition government has taken a difficult decision and it has preferred Pakistan over its own politics.
The prime minister hoped that the affluent segment of society will show generosity and cooperate with the government.