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No option other than to increase taxes: FM
WASHINGTON: Federal Finance Minister, Ishaq Dar Monday announced to increase taxes immediately after having successfully negotiated fresh loans from the International Monetary Fund (IMF) and the World Bank here, Geo News reported.
Following his four-day US tour, addressing a press conference at the Pakistani Embassy here, Ishaq Dar said if taxes were not raised more loans would have to be taken.
Taxpayers must get ready to bear the additional tax burdens, as the government has already decided to increase the taxes after assurances give to the IMF for securing loan, Dar said.
The finance minister said that the loans have to be re-paid and, as such, there was no option but to increase taxes. He added that revisiting defence budget was not possible, while the salaries and pensions of the government employees were already quite low and leave no room for any cut.
In this backdrop, Ishaq Dar said the only option left for the government was to increase taxes.
Courtesy www.geo.tv