Govt to present tax-free budget on Friday

Sandra Loyd

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) federal government is all set to present its second federal budget for the 2020-21 in the National Assembly on Friday.

According to sources, the federal government is most likely to set the earnings collection target at Rs5.1 trillion for FY21

Sources likewise declared that the federal government will not be presenting any brand-new taxes, nevertheless, it will present steps for bringing enhancements in the system of taxation, widening the tax base, and assistance of taxpayers.

The budget comes at a time when the nation is fighting the Covid-19 infection and practically all financial signs have actually been negatively impacted by the pandemic.

According to reports, the budget has actually been created thinking about the effect of Covid-19 on the economy and to provide relief to the people.

In addition to financial management policies focusing on earnings mobilisation, steps for financial stabilisation and growth, decrease in non-development expenses and a boost in exports will include in the budget.

The federal budget is likewise anticipated to focus on social sector advancement besides presenting reforms to enhance governance and enhancing private sector financial investment.

On the other hand, the pre-budget file, ‘Economic Survey of Pakistan’ was revealed by Advisor to Prime Minister on Financing and Earnings Dr Abdul Hafeez Shaikh on Thursday.

The study highlighted the general efficiency of the economy throughout the outbound and offered a basis for future preparation.

The post Govt to present tax-free budget on Friday appeared first on World Weekly News.