In a recent announcement, PM Shahbaz Sharif declared the implementation of a 10% super tax on the growing sectors of Pakistan’s economy. This decision was taken to address the economic crisis in the country and ensure its stability and growth.
The PM addressed the nation through a television broadcast, where he took the nation into confidence about the implementation of new taxes. He highlighted that the previous government’s incompetence had pushed the economy to the brink of bankruptcy. The current government is now faced with a do-or-die situation, where it must choose to either play politics or save the country.
While the decision to impose new taxes was not an easy one, the coalition government is committed to taking tough measures for the betterment of the country. The PM emphasized that the current budget seeks economic development and growth, and that tough times lie ahead. However, he assured the nation that with the input and sacrifice of its citizens, Pakistan can overcome these challenges and emerge stronger.
The 10% super tax will be imposed on various industries, including cement, steel, sugar, oil and gas, fertilizer, banking, textile, chemical, beverage, and automobile. The goal is to ensure that the burden of taxes does not fall on the common man with low income. Instead, the rich will share this burden through their profits, not their basic income.
Additionally, a progressive tax structure has been introduced for those earning above Rs. 150 million. Those earning over Rs. 150 million will pay a 1% tax, those earning above Rs. 200 million will pay 2%, those earning above Rs. 250 million will pay 3%, and those earning above Rs. 300 million will pay 4%. The goal of this tax structure is to ensure that the privileged sectors come forward to share the burden with the state.
The implementation of the 10% super tax is a tough decision, but it is necessary for the betterment of the country. The government is committed to ensuring that the burden of taxes does not fall on the common man, and that the privileged sectors of the economy also contribute towards its growth and stability. It is important for citizens to come together and work towards a brighter future for Pakistan.