'Taxes on petroleum products have been reduced’, claims finance minister

Taxes on petroleum products have been reduced - claims finance minister
Islamabad: Finance Minister Asad Umar on Wednesday claimed that taxes on petroleum products have been reduced [by the incumbent government].

Addressing members of social media team of Pakistan Tehreek-e-Insaf (PTI), Asad stated that a tax at rate of 101pc was levied on diesel by the previous government of Pakistan Muslim League Nawaz (PML-N). He added, “At present, the rate of all taxes levied on diesel is just 52pc.”

Umar warned that action will be taken against those who won’t get advantage from Tax Amnesty Scheme.

Umar accused previous governments of pushing Pakistan into a [financial] abyss. He maintained, “In the ongoing financial year, combined deficit has soared to record Rs2900 billion.”

“Steps are being taken to curtail budget deficit and imports. The external loan taken by PTI govt in 9 months from July-March is 1/3rd of the loan taken by PMLN in same period last year. When you see us hit the 12 month mark of our govt, it is my prediction that you will see a $6-7 billion decrease in Pakistan’s current account deficit.”, the finance minister was quoted as saying.

Asad Umar also vowed to digitalize Pakistan’s economy.