KARACHI [Pakistan]: Pakistan is facing significant tax hikes imposed by the authorities to boost state revenues with the aim of getting approval for an International Monetary Fund (IMF) bailout to prevent another economic crisis. There is widespread anger towards the government. ,
However, the move has spread frustration and disappointment among citizens of major cities who were expecting relief but are now facing increasing financial burden.
Shaista, a resident of Karachi, said, "We are taxed even on small things like matchsticks and the government depends heavily on our taxes. Despite paying taxes, we feel powerless and have to sacrifice our livelihood." Are."
The budget sets a challenging tax revenue target of 13 trillion rupees (US$47 billion) for the fiscal year starting July 1, representing an increase of nearly 40 percent.This includes a 48 percent increase in direct taxes and a 35 percent increase in indirect taxes. Non-tax revenues such as petroleum levy are expected to increase by 64 percent.
"It is difficult to call it a 'people-friendly' budget when salaried individuals like us are burdened with taxes. We were already paying many taxes. How will the poor and salaried people survive? Electricity bills, gas bills and various other direct And we have been repeatedly taxed, said Farooq, another resident of Karachi.We are already struggling, and these additional taxes are forcing people to take extreme measures.
Despite these measures, there are concerns about the government's ability to implement reforms, especially amid growing public opposition to coalition politics and inflation measures.
Additionally, Pakistan Peoples Party, an ally of Prime Minister Shehbaz Sharif's government, has expressed dissatisfaction over some aspects of the budget.
Sharif's administration also faces challenges from the continued popularity of jailed former Prime Minister Imran Khan, whose party lawmakers loudly protested during the budget presentation.
However, the move has spread frustration and disappointment among citizens of major cities who were expecting relief but are now facing increasing financial burden.
Shaista, a resident of Karachi, said, "We are taxed even on small things like matchsticks and the government depends heavily on our taxes. Despite paying taxes, we feel powerless and have to sacrifice our livelihood." Are."
The budget sets a challenging tax revenue target of 13 trillion rupees (US$47 billion) for the fiscal year starting July 1, representing an increase of nearly 40 percent.This includes a 48 percent increase in direct taxes and a 35 percent increase in indirect taxes. Non-tax revenues such as petroleum levy are expected to increase by 64 percent.
"It is difficult to call it a 'people-friendly' budget when salaried individuals like us are burdened with taxes. We were already paying many taxes. How will the poor and salaried people survive? Electricity bills, gas bills and various other direct And we have been repeatedly taxed, said Farooq, another resident of Karachi.We are already struggling, and these additional taxes are forcing people to take extreme measures.
Despite these measures, there are concerns about the government's ability to implement reforms, especially amid growing public opposition to coalition politics and inflation measures.
Additionally, Pakistan Peoples Party, an ally of Prime Minister Shehbaz Sharif's government, has expressed dissatisfaction over some aspects of the budget.
Sharif's administration also faces challenges from the continued popularity of jailed former Prime Minister Imran Khan, whose party lawmakers loudly protested during the budget presentation.
