Ishaq Dar announces the increase in tax

ISLAMABAD: Federal Finance Minister Ishaq Dar has announced to increase taxes by saying that if taxes were not raised more loans would have to be taken, ARY News reported.

Addressing a press conference at the Pakistani Embassy, following a 4-day US tour on Monday, Ishaq Dar suggested taxpayers to be ready for the additional tax burdens, as the government has already decided to increase the taxes after assurances give to the IMF for securing loan.

The finance minister said increasing tax is the only option for as revising defence budget is not possible, while the salaries and pensions of the government employees are already quite low and not having any room to decrease provinces’ quota.

Ishaq Dar said Pakistan will get $1 billion from International Monetary Fund (IMF) and World Bank while $2 billion will achieved from the auction of Eurobonds.