The Pakistani government has agreed to accept the demand of the International Monitory Fund (IMF) to withdraw the income tax exemption in the proposed budget for the fiscal year 2022-23.
According to the 24News HD TV channel, the negotiations between Pakistan and the IMF are continued and the government has started reviewing the income tax exemption in the budget.
The sources said that the government has decided that the relief given to the low-paid classes will be maintained.
The sources said the government is considering raising the income tax on monthly salaries above Rs500,000.
The sources said that the consultations with the IMF are still going on and efforts are being made not to put a burden on income tax on those with a monthly salary of Rs1,00,00 and Rs2,00,000.
Reporter: Waqas Azeem