Islamabad July 31 2022: Government is working to impose 5 percent tax on manufacturing companies whose exports are less than 10 percent of their total sales says Pakistan’s Finance Minister Miftah Ismail while speaking to media here in Islamabad.
He said, “it is not finalized yet that whether it will be imposed from this year or next year, final decision will be made after approval of Prime Minister Shahbaz Sharif. This will help to improve exports of the country”.
Finance Minister Miftah Ismail says that the country reached this point due to the poor policies of the former Prime Minister Imran Khan’s government, but the coalition government saved the country from default by taking difficult decisions.
He said that the payments had to be made in July for the imports carried out in the month June, so there was more pressure on rupee in July. The pressure on rupee will end in the month of August and things will become easier. Efforts will be made to increase exports from next month and it is hoped that the value of the rupee will increase in two weeks.
While giving a press conference in Islamabad, Finance Minister Miftah Ismail said that there has been a decrease in imports, which is welcome and we are trying to promote local industry.