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Amid financial crisis, Pak PM urges citizens to declare assets, pay taxes

ANI  |  Asia 

At a time when is grappling to overcome severe financial crises, Khan on Monday urged his countrymen to declare their assets and pay off taxes by June 30.

"In the last ten year, debt went from Rs 6,000 crore to 30,000 crore. We need some urgent steps to bring the country out of this crises." Khan said while addressing the nation, a day ahead of the national budget.

"I am appealing to all of you to take part in the Asset Declaration Scheme that we have brought because if we don't pay taxes, we will not be able to raise our country up," Khan said.

Last month, the Tehreek-e-Insaf (PTI) government had announced a new tax amnesty scheme to offer non-tax filers an opportunity to come clean until June 30.

Notably, the previous announced four such schemes to different groups that fetched around Rs121 billion and brought only 80,000 people into the tax net. However, the Khan-led government has said that this amnesty scheme is "different" from the previous one.

In Pakistan, only 1.4 million people out of 200 million file their annual income tax returns, reported

Urging nation to pay taxes, said, "This is the country that has [the] capability and if passion comes in, we can at the very least gather Rs10,000 billion every year," he said.

The ruling PTI government is set to present its first budget for the fiscal year 2019-20 in the on June 11. It will be presented by Khan's on Finance, Revenue and Economic Affairs Dr

The government on Sunday announced that it is planning to present an austerity-oriented budget providing a 'slight' relief to middle and low-grade government employees, including military personnel, with no increase in the salaries of army officials of higher ranks.

Interestingly, last month, the had reached an agreement with the (IMF) for a bailout package of USD 6 billion.

Besides the assistance by IMF, Pakistan will receive additional funds worth nearly USD 2-3 billion from institutions like the and Bank.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 10 2019. 10:29 IST