ISLAMABAD: Pakistan Muslim League-N government is expected to introduce wealth tax in budget 2013-14, which is likely to be presented in the Parliament by the second week of June. Sources said the Prime Minister Nawaz Sharif had reportedly decided to appoint Senator Ishaq Dar as Finance Minister with a task to finalise the budget. They said that the next budget would be business-friendly with less powers to tax authorities while emphasis would be more on presumptive tax regime.
Sources further stated that the Governor State Bank of Pakistan Yaseen Anwar had reportedly briefed Ishaq Dar on monetary policy and overall economic situation especially with reference of balance of payment (BoP) position. The PML-N chief has appreciated the market's favourable response to his party's electoral victory. An official in the Finance Ministry told Business Recorder that the broad contours of the budget were finalised by the Ministry which would be amended as desired by the new government. Analysts say the broadening of tax net and expenditure rationalisation would be major challenges for the new Finance Minister.
Comments
Comments are closed.