Pakistan set to face another inflation storm soon: Ismail Miftah

KARACHI, DEC 31 (DNA) — Representative Pakistan Muslim League Nawaz (PML-N) Miftah

Ismail said that Pakistan Tehreek-e-Insaaf (PTI) government has brought another storm of

inflation and country is set to face it soon.

He said this while referring to the mini-budget. Addressing a press conference in Karachi

Thursday, Former Revenue Minister along with Dr Mussadiq Khan said that the basic

necessities of life including food and medicine are not under public’s access.

He added that Nawaz Sharif’s demand is just the assurity of holding fair and transparent

elections across the country. Wheat was smuggled from Punjab to Central Asia. If it were our

government no tax would have been imposed on the milk and medicine.

Meanwhile, Dr Mussadiq said that the EIC came back to Pakistan. The person who had power is

being followed. If the electricity bill will cost Rs8 thousand what will the poor labors of country

do. He said, the government is working to benefit banks which is why the EIC might return back

to our country.

He further added that this is the government of insensitive politicians who do not care even if 20

hundred thousand people die. After mini-budget, the inflation will rise and the opposition will

unite to fight against the government in National Assembly.

Earlier today Chairman Federal Board of Revenue (FBR), Dr. Muhammad Ashfaq said that

many things related to taxes and International Monetary Fund (IMF) were twisted in reports.

Addressing a press conference to clear the board’s point of view, the FBR Chairman said IMF

was a reality, however made it clear that many taxes that were claimed to have been levied were

not actually imposed by the government.

Likewise the taxes that were shifted from one place to another were also misinterpreted, he said

adding some changes were made to amend certain laws relating to taxes and duties through the

Finance (Supplementary) Bill, 2021.

He was of the view that tax policy reforms were needed for a long time. However, during the

previous regimes, whosoever interest groups came, they took their self-interested exemptions by

making amendments in the laws and then they went away.

He said it has always been demand of the International Monetary Fund (IMF) to improve tax

system and help the country increase revenues for self-sustenance.

He said, every time whenever the country went into IMF programme, new taxes were imposed

but the old exemptions, concerning certain economic group, were not touched upon and these

remained embedded with the system. The exemptions were not withdrawn simply because it

would have been politically very unpopular decision. =DNA

==============================