Pakistan is preparing for tougher economic controls to control its fiscal deficit. Introducing the budget resolution, Pakistan’s Finance Minister Mifta Ismail explained the economic restrictions. The government is also considering levying higher taxes on the rich. (pakistan Government employees will be banned from buying new cars)
He said $ 1,523 billion had been earmarked for defense spending, $ 550 billion for civil administration and $ 530 billion for pensions. Similarly, it has been decided to set aside Rs 699 billion to provide subsidies to the weaker sections of the society.
At the same time, the finance minister said he would increase taxes on the affluent and ban the import of cars. He added that government officials would be barred from buying new cars. He added that imports would be reduced from $ 76 billion to $ 70 billion.
Story Highlights: pakistan Government employees will be banned from buying new cars
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