LAHORE: Pakistan Tehreek-e-Insaf (PTI) leader and energy minister Hammad Azhar on Friday intensely criticized the alliance government’s decision to impose 10% super tax on large-scale industries, ARY News reported.
Captivating to Twitter, Hammad Azhar said, “Super tax will end up further squeezing the formal sector of the economy. This means taxing the already taxed even more.”
He went on to say that the country’s economy was dropping and such a quantity at this time will reverse the “industrialization drive that PTI generated”.
Industry is already facing crippling costs due to rising prices of commodoties and energy. This super tax will be priced in their balance sheets and passed on to the customers in many cases. Means even higher prices for the public. https://t.co/4op4vlgKg1
— Hammad Azhar (@Hammad_Azhar) June 24, 2022
“Industry is already facing crippling costs due to rising prices of commodities and energy. This super tax will be priced in their balance sheets and passed on to the customers in many cases. Means even higher prices for the public,” he additional wrote.
جب وزیراعظم اور وزیر خزانہ کی میڈیا سے گفتگو کے بعد اسٹاک مارکیٹ بری طرح کریش کر جائے اورکرنسی کی قدر بری طرح کم ہو جائے ان حالات سےحکومت پر اعتماد کا اندازہ لگایا جاسکتا ہے،حکومت کی معاشی پالیسیاں پاکستان کو دیوالیہ کر رہی ہیں اس ٹولےسے جلد از جلد نجات ہی پاکستان کامفاد ہے
— Ch Fawad Hussain (@fawadchaudhry) June 24, 2022
’10pc super tax’
Prime Minister Shehbaz Sharif today publicized a super-tax of 10 percent on large-scale manufacturers and industries in the country in order to report the economic woes.
The prime minister while proclaiming the hard decisions in the stir of the ongoing economic condition said that industries associated to steel, cement, sugar, oil and gas, fertilizers, energy and terminal, and textile will face a 10 percent tax.
In adding, he said that the super tax will also be obligatory on the banking and cigarette sectors. “Teams will be formed to collect tax after the passage of the budget bill,” the prime minister said and added that the tax will be charged for a short period of time.