Karachi (HRNW): Federal Board of Revenue (FBR) chairman Syed Shabbar Zaidi said on Friday the incumbent government will not overburden people with taxes. Speaking at an event titled Pakistan’s Economy and Budget 2019-20 hosted by Karachi Council on Foreign Relations at a local hotel here, he said there is a mafia working in the agricultural sector. He said he had a deep insight into agricultural economics which is the least documented as compared to other sectors.Zaidi said tax on middlemen working in the sector has been increased by 10 per cent as a middleman earning Rs1.2 million annually will have to pay Rs2500 tax on his income. Speaking on the occasion, the State Bank of Pakistan (SBP) Governor Dr Reza Baqir said he is honoured to serve the country.
He urged the overseas Pakistanis to explore “good opportunities” in the country. Earlier, Prime Minister’s Adviser on Finance Abdul Hafeez Shaikh while addressing the event said good economic policies ensure a strong national economy. The governments in the past failed to devise the policies for lasting economic development, the finance adviser said. The previous government also didn’t accord attention to to enhance trade and exports, Shaikh said. He highlighted the need of economic reforms, adding that the government is trying to minimize the period of hardship. He said Pakistan’s major institutions have come forward to help the national economy.