WASHINGTON: The federal government has announced to increase the tax revenues on Monday.
Finance Minister Senator Muhammad Ishaq Dar said that the government will have to take more loans if the taxes weren’t raised.
Addressing a press conference at Pakistani embassy in US, finance minister said that financial resources were needed for the salaries of government functionaries and other expenses.
He said we have to increase taxes and government was doing this. He said that the reforms are being introduced on economic front. He said 50 percent of the taxes go to the provinces so the increase in taxes is vital.
He asserted that there was no option other than to increase tax.
Dar said the forex reserves rose to $10 billion till March 31, expecting that they will exceed to 15 billion dollars till the next fiscal year.
He said the government was brining economic reforms to ensure good governance.