No new taxes to be imposed on Pakistan’s agriculture, real estate sectors — minister

Pakistan's finance minister Ishaq Dar speaks during the National Assembly session in Islamabad on July 21, 2023. (Photo courtesy: @NAofPakistan/Twitter)
Short Url
Updated 21 July 2023
Follow

No new taxes to be imposed on Pakistan’s agriculture, real estate sectors — minister

  • Finance Minister Ishaq Dar says Pakistan has already endured enough hardships while unlocking the IMF program
  • He maintains the country has met the IMF conditions and will no longer burden its people with more taxes

ISLAMABAD: Pakistan’s finance minister Ishaq Dar said on Friday the government would not impose new taxes on the agricultural and real estate sectors, adding the people would no longer be burdened with additional taxes after the country successfully revived an International Monetary Fund (IMF) bailout program.

Last month, cash-strapped Pakistan signed a $3 billion stand-by arrangement (SBA) with the IMF after completing several prior conditions laid down by the lender, including imposition of additional taxes, removal of subsidies, and securing financial assurances from friendly nations.

The release of the IMF loan provided much-needed economic relief to the country, which had been struggling with a severe balance of payment crisis, high inflation, critically low forex reserves, and a depreciating currency.

Addressing the lower house of parliament, Dar dismissed “rumors” by media outlets about a potential increase in taxes on the agriculture and real estate sectors as a result of the IMF deal, saying that the government had no such plans.

“I am issuing a categorical statement before the [parliament] today that not a single new tax will be imposed, neither on the agriculture sector nor on the real estate industry,” he continued.

“We have already endured all the hardships we had to while unlocking the IMF program, delivered all the prior actions [required by the lender], and we have all the documents stating our future commitments.”

Dar assured the masses that all the documents related to the IMF deal with Pakistan would be uploaded to the finance ministry’s website on Friday to ensure transparency, adding that everybody would be able to access them.

He added the government had also taken measures to bring down the country’s consumer price index (CPI)-based inflation rate, which had soared to a record 38 percent on a year-on-year basis in May 2023 before reducing to 29.4 percent in June.

He said the country would bring it to seven percent in the future.


Peace can only prevail if Afghanistan renounces support for ‘terrorism’— Pakistan defense chief

Updated 12 sec ago
Follow

Peace can only prevail if Afghanistan renounces support for ‘terrorism’— Pakistan defense chief

  • Pakistan’s chief of defense forces visits South Waziristan district bordering Afghanistan
  • Pakistan says has killed 481 Afghan Taliban operatives since clashes began last Thursday

ISLAMABAD: Pakistan’s Chief of Defense Forces Field Marshal Syed Asim Munir said on Wednesday that peace with Afghanistan can only prevail if Kabul renounces support for “terrorism” and “terrorist” organizations, the military’s media wing said as the two countries remain locked in conflict. 

Fighting between the two neighbors, the worst in decades, broke out last Thursday night after Afghan forces attacked Pakistan’s military installations along their shared border. Afghanistan said its attacks were in response to earlier airstrikes by Pakistan against alleged militant hideouts in its country. 

Pakistan accuses Afghanistan of sheltering militant outfits such as the Tehreek-e-Taliban Pakistan (TTP) on its soil who have launched attacks against Pakistani civilians and security forces in recent years. Kabul denies the allegations. 

Munir visited Wana town in Pakistan’s South Waziristan district to review the security situation and troops’ operational preparedness at the Afghan border, the Pakistani military’s media wing said in a statement. 

“The Field Marshal reiterated that peace could only prevail between both sides if the Afghan Taliban renounced their support for terrorism and terrorist organizations,” the Inter-Services Public Relations (ISPR) said. 

The military chief said the use of Afghan soil by militant outfits to launch attacks against Pakistan was unacceptable, vowing that “all necessary measures” would be taken to neutralize cross-border threats. 

During the visit, Munir was briefed by military commanders about ongoing intelligence-based operations and measures being taken by the military to manage the border with Afghanistan.

He was also briefed about “Operation Ghazab Lil Haq” or “Wrath for the Truth,” the name Pakistan has given to its military operation against Afghan forces, the ISPR said. 

The Pakistani military chief spoke to troops deployed in the area, praising their vigilance, professional conduct and high morale, the ISPR said. 

Pakistan’s Information Minister Attaullah Tarar said on Wednesday that the military has killed 481 Taliban operatives, injured more than 690 and destroyed 226 Afghan checkposts since clashes began. 

Arab News has been unable to verify claims by both sides about the damages they claim to have inflicted on each other.

Afghanistan has signaled it is open for dialogue but Pakistan rejected the offer, saying it would continue its military operations till its objectives were achieved. 

Since the conflict began, diplomatic efforts have intensified with several countries, including global bodies such as the European Union and United Nations, urging restraint and calling for talks.

Turkish President Recep Tayyip Erdogan told Pakistani Prime Minister Shehbaz Sharif that ⁠Ankara would help ⁠reinstate a ceasefire, the Turkish Presidency said on Tuesday, as other countries that had offered to mediate have since been hit by the conflict in the Gulf.