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Punjab govt set to impose new taxes in budget

Punjab govt set to impose new taxes in budget

LAHORE: The Punjab government is mulling to impose new taxes on the people and suggestions to collect property tax from motorways and restaurants have surfaced on media, according to reports.

The Punjab government has prepared the documents to impose taxes of Rs25 to 30 billion in next fiscal year.

According to reports, the government is mulling to increase agriculture income tax and suggestions to impose new carbon tax on use of fuel are also under consideration.

The government is considering widening the professional tax while professional tax on lawyers has been delayed. The government is also considering to impose tax on beauty salons.

On the other hand, the Punjab government is planning to increase growth rate by 5.2 percent in next fiscal year. The government is likely to allocate Rs3 billion for South Punjab Secretariat.

The Punjab government has prepared the suggestions to create over 0.5 million new jobs in next fiscal year. The government is also considering to allocate Rs14 billion to complete Orange Line Metro Train. The government has prepared a plan to increase industries through public private partnership.

PM Imran Khan has summoned a meeting on June 10 to discuss matters related to next budget. The meeting would be attended by Punjab Chief Minister Usman Buzdar.

The new development schemes would be added to budget after approval from PM Imran Khan. The PM would be briefed on the budget allocated for pure water schemes in Punjab.