KARACHI: Former finance minister Shaukat Tarin on Friday slammed the Federal Budget 2022-23 calling it ‘anti-people’. He warned the country is heading toward Sri Lanka-like situation, asked for immediate elections.
“Stop telling lies about the economy,” Tarin told the government in a presser at Karachi Press Club. “PTI’s tenure witnessed record growth in all sectors.” he added.
He also slated Prime Minister Shehbaz Shairf-led government for imposing Super-Tax on industries, saying the new taxes on 13 sectors will further strain the industry.
“The measure will force industries to close down and eventually unemployment will increase,” he claimed.
The PTI Senator noted that the PTI regime had a progressive tax system, which benefited the both – citizens and the government.
“This government will impose a petroleum levy of Rs700 billion. The small trader will utterly be destroyed by these taxes,” he added.
“If PTI had still been in power, they would have approached Russia for cheap oil and would have provide relief on petrol and diesel,” The former minister said, “This government is taking the country toward default.”
Read also: PTI rejects super tax, says it will intensify economic crisis
Instead of imposing any new taxes, He further said, the PTI government recovered Rs1400 billion revenue.
“Such measures will bring a storm of inflation and factories will shut down,” Shaukat Tarin further added, “With 10 percent super tax, government has reduced industry’s subsidy by Rs500 billion.”
Referring to Shehbaz Sharif, Shaukat Tarin said after the prime minister’s announcement, the Pakistan Stock Exchange witnessed a bloodbath and the Rupee declined further against the dollar. He claimed that the International Monetary Fund does not trust the incumbent government.
