Islamabad: Advisor to the Prime Minister (PM) on Economic Affairs Abdul Hafeez Sheikh on Monday stated that the financial budget (FY) 2020-21 would not feature any new taxes, a news source reported. He revealed this information while talking a to private news channel.
The PM’s advisor said that during the coming days, the federal government would have to work hard in order to bring the budget deficit down to 9%. Referring to the coronavirus’ impact on national economy, Sheikh said that they were working towards cutting expenditures by taking austerity measures.
Sheikh revealed that they were aiming to provide relief to the people in FY 2020-21. He added that the government plans to reduce duties on many things during the upcoming budget. It would also provide relief packages to sectors increasing economic activities and generating employment in the country, he further said.
Replying to a question, Sheikh said that the government would try to maintain the petroleum prices at a certain level.