Prime Minister Shehbaz Sharif directs economic team to review existing income tax rates for those earning up to Rs100,000 per month

Islamabad: In an effort to alleviate financial strain, the federal government decided to consider income tax relief for the salaried class, the sources familiar with the sources said on Friday.
The objective of this decision is to provide relief to the salaried class.
Prime Minister Shehbaz Sharif directed the economic team to review the existing income tax rates for those earning up to Rs100,000 per month.
In the latest budget, the government had imposed a 2.5 percent income tax on monthly salaries up to Rs100,000. The reports suggested that this tax rate may be reduced or eliminated to offer relief to salaried workers.
Implementing this tax relief could lead to an estimated revenue shortfall of around Rs40 billion. It is expected that this deficit would be addressed by reducing allocations to the Public Sector Development Program (PSDP).
Besides it, the discussions on this proposed tax relief are expected to include consultations with the International Monetary Fund (IMF).

The problems with AI in the smart home and how Amazon and Google plan to fix them
- 5 hours ago

130 dead in Mexico due to torrential rains, floods
- an hour ago

What the National Guard is doing in Chicago
- 3 hours ago

What humans might learn from nature’s real-life zombies
- 3 hours ago

Pakistan's economic future: Finance Minister's Washington talks
- 25 minutes ago

Donald Trump wishes Pakistan, India to be best neighbors
- an hour ago

No. 1 Buckeyes 'want to be great,' cruise to 5-0
- 4 hours ago

Repair of submarine cable, internet service may be affected today
- an hour ago
.jpg&w=3840&q=75)
Gaza Ceasefire Agreement Signed by U.S., Egypt, Türkiye, and Qatar
- 12 hours ago

Verizon buys the not-quite-5G wireless ISP Starry to expand wireless broadband
- 5 hours ago

Follow live: Cubs aim to force Game 5 vs. Brewers
- 4 hours ago

Private Hajj scheme bookings to close at midnight on Friday
- 12 hours ago