Taxing individuals earning 100k per month my fault, says Miftah

ISLAMABAD: Federal Finance Minister Miftah Ismail has said that it is his fault to tax those earning up to one lakh.

Miftah Ismail in a statemnet said it was his mistake that he could not persuade IMF not to tax the people earning upto Rs100,000 monthly. The minister said, the government also imposed 10% super tax on 13 industries and taxes.

In a statement, Finance Minister Miftah Ismail said that it was his fault for taxing the salaried class up to Rs 100,000. We will bring 3 million shops into the tax net, which will raise Rs 40 billion, he added.

Federal Finance Minister Miftah Ismail while giving bad news to the people under the burden of inflation said that inflation will not be controlled for next 2 to 3 months. It should be noted that the National Assembly approved the budget consisting of various taxes yesterday.

The National Assembly has passed Finance Bill 2022, bringing the country closer to the revival of the $6 billion loan programme.

The session was chaired by NA Speaker Raja Pervaiz Ashraf. The passage of the budget for the fiscal year 2022-2023 brings the government one step closer to the revival of the stalled International Monetary Fund (IMF) programme.