No new tax in upcoming budget: Finance Adviser

08:58 AM | 19 May, 2020
No new tax in upcoming budget: Finance Adviser

ISLAMABAD - Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh has informed that the government would not introduce any new tax in the upcoming budget to facilitate the industrial sector in wake of the COVID-19 pandemic.

While talking to a private news channel, the adviser said that the government is trying to reduce its expenditures by adopting austerity measures and added that the government would have to do work hard in coming days to reduce the budget deficit to nine percent.

He said basic objective of the government is to provide relief to the people in the next budget and duties going to be decreased on many things in the budget.

He said under the relief program of G-20 countries, payments of 1.8 billion dollars will be differed.

He said that the negative impact of coronavirus was also affecting our national economy like other countries.

Replying to a question, Hafeez said that the government would give package in upcoming budget to those sectors which were increases economic activities and generate employment opportunities.