PTI govt envisages record Rs1tr in additional taxes

The federal cabinet on Tuesday approved a heavily tax-loaded and low economic growth budget strategy paper for the third year of the Tehreek-e-Insaf (PTI) government, envisaging imposition of a record Rs1 trillion in additional taxes and continuation of the stabilisation policies.

In addition, the cabinet approved the 3% (GDP) growth target while inflation target is set at 8.4% for fiscal year 2020-21. The total size of the federal budget is projected at Rs7.6 trillion — up by 8.5% over this year’s budget.

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