Pakistan

PM Shahbaz Sharif announces 10% super tax on big industries

ISLAMABAD: Prime Minister Shahbaz Sharif on Friday said that the government has decided to impose a 10% super tax on large-scale manufacturers including oil, fertiliser, steel , sugar, automobile and textile.

The premier made the announcement after chairing a meeting of his economic team during which important decisions were taken related to budget 2022-23.

In a televised address, the prime minister said that he wants to take the nation into confidence over the government’s measures to stabilise the economy.

The PM said that the decisions, taken by the government, aimed at providing relief to the people due to record inflation and reviving the dwindling economy which was shattered due to the “incompetency and corruption” of the PTI government.

The premier said that he is using the word corruption because he knows that the previous government was “involved in corruption”.

“The economy, which was at the brink of bankruptcy due to delaying tactics of the PTI government, has now been saved and will come out of the shadows and move towards a growth trajectory.”

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