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The people of Pakistan are already struggling with inflation and unemployment, but now Shahbaz Sharif is ready to explode the tax bomb. Recently, the budget was presented in Pakistan, in which preparations were made to increase the tax rates. The Sharif government plans to increase the tax rate from 35 percent to 45 percent. Regarding this plan of Sharif, the people of Pakistan are saying that increasing the tax rate is like dropping a nuclear bomb on the people.
Pakistanis called tax hike a nuclear bomb
The people of Pakistan have raised their voice against inflation, common people are getting troubled. Working people are sleeping. Because, Shahbaz Sharif has prepared to explode a tax bomb. Tax bomb, yes. People of Pakistan are calling the increase in tax rate a nuclear bomb. It can be called an atom bomb, which has been dropped on the bureaucrat, you pay tax on salary. We pay tax on whatever goods we buy. Excessive tax has been imposed on the working class. Because they are already living with great difficulty.
It is difficult to get two meals a day
The economic condition of Pakistan is already bad, common people are struggling with inflation and unemployment. It is becoming difficult to arrange for two meals a day. Meanwhile, the Sharif government has prepared to increase the tax rates in the budget. This step of the government has been described as the height of oppression on the public. People say that nowadays it is enough if a common man takes care of his household expenses and petrol. They have done injustice to the people by increasing the tax. The taxes they are imposing are excessive. If this is not oppression then what is it? The situation is already so bad that not everyone can afford it. If they have now imposed so much tax on salaries as well then it is unfair.
Loan from International Monetary Fund
Now understand why the Pakistan government has to put the burden of tax on the people. Actually, Pakistan has taken a loan from the IMF i.e. International Monetary Fund. And Pakistan needs a new loan. Therefore, the IMF has suggested Pakistan to repay the loan by increasing tax rates. This is what the IMF plan says
– 45 percent tax should be collected from Pakistanis earning Rs 4 lakh 67 thousand per month.
– Till now in Pakistan, 35 percent tax is levied on income up to Rs 5 lakh.
– It has also been suggested to impose 18 percent sales tax on products of agriculture and health sector.
– However, no agreement has yet been reached between the Pakistan government and the IMF on this issue.
– Pakistan is also preparing to impose tax on pension received after a certain limit.
If Pakistan accepts the IMF's conditions and increases the tax rate, it will become difficult for the already troubled Pakistanis to survive. There are many countries that negotiate with the IMF and say if they want to default, we cannot. Then the debt is rescheduled. Our debt has not been rescheduled because no one here dares to talk to them. Rs 326 billion which has been deposited by the salaried people. Kill the poor, destroy the middle class. But don't say anything to the influential people. This is the IMF's budget.
In the last financial year, Pakistan received 86 billion Pakistani rupees in indirect taxes, which was about 280 percent less than direct taxes. In such a situation, the Sharif government will increase its earnings by imposing more taxes on civil servants. But they have to face the anger of the public. In this budget, the Pakistan government has increased its defense budget by Rs 318 billion and its burden is now being put on the public. Due to which there is an uproar in Pakistan.