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Wednesday Jun 12 2019

Govt facing financial difficulties since assuming power: Abdul Hafeez Shaikh


ISLAMABAD: Adviser to PM on Finance Abdul Hafeez Shaikh said on Wednesday that the government has been facing financial woes since day one of assuming power.

In a post-budget speech, the finance adviser said that the country is going through a tough phase.

Abdul Hafeez Shaikh said that the government when came to power inherited a debt of Rs31,000 billion.

On the budget, Shaikh said that the elite class of the country will have to show support to the country as the rich in the region pay more taxes than the elite in Pakistan do.

He said that the targets will have to disgruntle some people.

Abdul Hafeez Shaikh said that this time the budget for development has been increased from previous year’s Rs500 billion to Rs925 billion.

Exports have fallen sharply due to which price of the dollar has hiked, said the minister.

Abdul Hafeez Shaikh said that the budget of the armed forces has not been increased this year and stands at Rs1150 billion.

The adviser to the prime minister said that the difference between filer and non-filer is being eliminated and those not becoming filer in 45 days will be given a summons regarding tax.