Islamabad (June-08-2024) : Dr. Muhammad Hanif Mughal, the Chairman of Pakistan Tehreek-e-Shadbad, stated on Saturday that the budget should provide relief to the masses rather than burdening the average person more.
He added that since inflation has broken the backs of the people and they are no longer able to bear more burden, the process of collecting taxes from the elite should now begin.
Addressing the party workers, Dr. Hanif Mughal said that the present government has only increased the burden on the people to increase revenue.
To increase revenue, the government targets the masses, the salaried class, and pensioners, but without taxing the elites, the country will continue to struggle for survival and never achieve the desired results.
Hanif Mughal suggested to properly tax the non-taxpayers and minor taxpayers. They include wholesalers, landlords, stock market brokers, the property mafia, and other sectors.
He claimed that despite the country’s impending bankruptcy, the elites continue to enjoy privileges worth more than eighteen hundred billion rupees, which is astounding.
Statements cannot deceive the people, nor can authorities hide their weaknesses through promises, he observed.
He said the masses want a better budget, as the continuation of the old budget will not be not acceptable to them.
In order to meet the budget deficit on the demand of the IMF, the government has to completely eliminate tax exemptions in many sectors; otherwise, it will not get more loans from the international organization.
At this time, the deficit in the energy sector alone has exceeded 2400 billion rupees. And in the first seven months of this financial year, it has increased by 325 billion rupees.
There is a proposal to collect advance tax from the auto sector which will be 10% on the value of the vehicle.
There is a proposal to eliminate the advance tax for filers making external credit card payments, and non-filers are subjected to a 20% tax.
Withholding tax rate for non-filers on cash withdrawals can be to nine percent from the previous six percent, which will have an impact on both individuals and businesses.
The government has decided to raise the tax rate to 30 percent for non-filers with commercial or industrial electricity and gas connections, which will impede economic development.
He suggested increasing salaries in the budget to help people deal with the rising cost of living and strengthening the agriculture sector to ensure food security for the nation.
Hanif Mughal advocated for improving agriculture supply chain management to decrease post-harvest losses and boost market accessibility. He demanded improved access to credit and insurance facilities for farmers to mitigate risks and invest in their operations.
