June 18, 2024
1 min read

Tax hikes spark massive outrage in Pakistan

The budget sets a challenging tax revenue target of 13 trillion rupees (USD 47 billion) for the fiscal year starting July 1, representing a nearly 40 per cent increase….reports Asian Lite News

There is widespread anger in Pakistan towards the government over the significant tax hikes that the authorities have levied to boost state revenues with an aim to achieve approval for an International Monetary Fund’s (IMF) bailout to prevent another economic crisis in Pakistan.

However, this move has sparked dismay and frustration among citizens in major cities who were hoping for relief but are now facing increased financial burdens.

Shaista, a resident of Karachi, said, “We’re taxed on even the smallest items like matchsticks, and the government relies heavily on our taxes. Despite paying taxes, we feel powerless and are sacrificing our livelihoods.”

The budget sets a challenging tax revenue target of 13 trillion rupees (USD 47 billion) for the fiscal year starting July 1, representing a nearly 40 per cent increase.

This includes a 48 per cent rise in direct taxes and a 35 percent hike in indirect taxes. Non-tax revenue, such as petroleum levies, is expected to surge by 64 per cent.

“It’s hard to call this a ‘people-friendly’ budget when salaried individuals like us are burdened with taxes. We were already paying numerous taxes. How will the poor and salaried survive? Electricity bills, gas bills, and various other direct and indirect taxes have been imposed on us repeatedly. We’re already struggling, and these additional taxes are pushing people to extreme measures,” Farooq, another Karachi resident, said.

Despite these measures, there are concerns about the government’s ability to implement reforms, especially amidst coalition politics and mounting public opposition to inflationary measures.

Moreover, the Pakistan People’s Party, an ally of Prime Minister Shehbaz Sharif’s government, has expressed dissatisfaction with certain aspects of the budget.

Sharif’s administration also faces challenges from the continued popularity of jailed former Prime Minister Imran Khan, whose party lawmakers protested vigorously during the budget presentation. (ANI)

ALSO READ: US Withholds Discovery Material from Nikhil Gupta in Pannun Case

Previous Story

Nikhil Gupta accused in Pannun ‘murder’ plot pleads not guilty

Next Story

Indian Navy to hold trials in Spain for P-75 submarine project

Latest from -Top News

GAZA KILLINGS: War Crime?

Mobile Phone Footage Casts Doubt on Israeli Account of Ambulance Attack in Gaza Newly surfaced mobile phone footage has raised serious questions about the Israeli military’s justification for opening fire on a

Namibia voices concern over US tariffs

AGOA is a non-reciprocal trade arrangement aimed at supporting development in African countries through preferential access to US markets The Namibian government has expressed concern over newly imposed US tariffs, warning that

Uganda, South Sudanese leaders hold talks

Museveni, who is among the guarantors of a 2018 peace agreement that ended a five-year civil war, held closed-door discussions with President Salva Kiir Uganda’s President Yoweri Museveni was expected to meet

Protests across US against Trump

The largest event was at the National Mall in DC, where demonstrators numbered in the tens of thousands People across the US took to the streets on Saturday to oppose what left-leaning

Namibia voices concern over US tariffs

AGOA is a non-reciprocal trade arrangement aimed at supporting development in African countries through preferential access to US markets The Namibian government has expressed concern over newly imposed US tariffs, warning that
Go toTop

Don't Miss

Massive protests erupts in Pakistan after 2 Sikh men shot dead

Two members of the Sikh community were killed after unidentified

Shias in India accuse Pakistan of nursing terrorism

“We hope our government will allow us to lay down