Shahbaz Sharif calls taxes on Salaried class & Trades Economic Terrorism

Shahbaz Sharif expressed dismay over the IMF report regarding Pakistan’s new taxation regime and accused the Imran Khan-led government of lying to the people and the parliament.

Shahbaz

News Desk |

Shahbaz Sharif, President Pakistan Muslim League-Nawaz (PML-N) and Leader of the Opposition in the National Assembly, accused the Imran Khan-led government of “lying to the parliament and the public” in light of the revelations ushered forward by the International Monetary Fund (IMF) report.

Sharif said, “The PTI-led government lied to the parliament that it has imposed taxes worth Rs500 billion, while the IMF report reveals that taxes worth Rs750 billion have been levied.”

Shahbaz Sharif vowed to address the issue of heavy taxation and burdens levied on the public on the floor of the parliament.

Shahbaz Sharif argued that by lying to the parliament and public, the PTI-led government has compromised the sanctity and privilege bestowed upon the parliament with its lies about the new taxes levied upon the nation.

Tax Collection: Economic Terrorism?

The Leader of the Opposition expressed disapproval over the revelations of the IMF and stated that the “fascist government” is burdening the public with imposing taxes worth 1.6 trillion. He said, “The salaried class and traders will have to bear the burden of the additional Rs90 billion taxes, which equates to economic terrorism”.

Shahbaz Sharif vowed to address the issue of heavy taxation and burdens levied on the public on the floor of the parliament. He went on to criticize the Imran Khan-led government for heightened increments in the prices of gas and electricity.

Read more: IMF reveals what PTI concealed from public

Addressing the “burdens of property taxes”, Sharif noted that given the additional taxes, the taxes on property are expected to increase by Rs45 billion. He remarked, “This will not encourage the construction of new houses, but in fact, people will be forced to sell their existing homes as well.”

The President of PML-N added, “By undertaking such an ill-considered decision, how can the selected Prime Minister fathom the construction of five million homes?”

Sharif noted that the increments in the prices of petrol, diesel land, lead, cement, and even essential food items have heightened beyond control, and this inflation is only adding to the burden of the common man.

Shahbaz Sharif said, “The incumbent government will fail in achieving its tax revenue targets, and instead, it is dismantling the businesses and livelihood of the public.” He argued that such measures will only serve the purpose of unemployment.

The agreement between the IMF and Pakistan was signed between Finance Abdul Hafeez Shaikh and Governor State Bank of Pakistan Reza Baqir.

Sharif added, “Time reveals that Imran Khan Niazi is not only incompetent to lead the nation, but also, he lacks the tolerance to take criticism over his failings.”

Sharif also launched a protest against the denial of providing home-cooked and food restrictions to former Prime Minister Nawaz Sharif, who is languishing in Lahore’s Kot Lakhpat jail. He noted that the “fascist government will be held responsible for any incident that occurs to the former premier Nawaz Sharif.”

He urged the authorities to ensure that Nawaz Sharif is provided with safe home cooked meals, according to the guidance of his physicians.

IMF’s Revelations on PML-N

In its report published on Monday, the International Monetary Fund indicated that Pakistan has entered a heightened taxation regime, aiming to collection Rs1.56 trillion additional taxes this year, followed by Rs1.5 trillion in 2020, and an additional Rs1.31 trillion in 2021.

Read more: IMF tells what State Bank of Pakistan was hesitant to admit

The agreement between the IMF and Pakistan was signed between Finance Abdul Hafeez Shaikh and Governor State Bank of Pakistan Reza Baqir. The agreement also requires increments in the tariffs levied upon electricity consumption.

The IMF document also highlighted the “misaligned economic policies” exercised by the PML-N, which led to the collapse of the fiscal regime and allowed the trade deficit to grow beyond control.

The IMF report highlighted that the PML-N tenure left huge fiscal deficits, loose monetary policy, an overvalued exchange rate, which eroded macroeconomic buffers, and the increased external and public debt, coupled with depleted forex reserves, are responsible for the economic turmoil faced by the country.

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