Super tax on rich elite: PM Shehbaz takes to Twitter, explains rationale

Prime Minister Shehbaz Sharif took to Twitter on Friday to “explain the rationale behind the announcement he made about a super tax on “rich people”. 

In a series of tweets, PM Shehbaz said when the coalition government came to power, it had “two paths open to it”. One path was to go for elections and leave the economy broken, the other was to address the economic challenges first, adding that the government chose the second option.

“We opted to save Pakistan from economic quagmire even if it involved political risks. We put Pakistan first,” said PM Shehbaz, adding that the budget presented by the government “contains the plan for revival of the economy”.

In the following tweets, I explain the rationale behind the announcement of 10% super tax on the affluent people.

— Shehbaz Sharif (@CMShehbaz) June 24, 2022

“The hard decisions we have taken will enable the country to overcome the economic crisis. The government has tried its best to place the minimum burden on lower-income and salaried class,” said the premier.

PM Shehbaz said that the government has imposed the 10% super tax “for the purpose of poverty alleviation”. 

Macroeconomic stability is the first step. What the coalition government is aiming to achieve is economic self-sufficiency. This precisely is the spirit of the budget. Our national security is very closely tied to economic reliance.

— Shehbaz Sharif (@CMShehbaz) June 24, 2022

“We have asked our affluent segment of society to fulfil the national duty by sharing the burden, for it is the poor who have always borne the brunt and rendered sacrifices for the country,” said the premier.

PM Shehbaz concluded: “Macroeconomic stability is the first step. What the coalition government is aiming to achieve is economic self-sufficiency. This precisely is the spirit of the budget. Our national security is very closely tied to economic reliance".