Chairman Senate Finance Committee Salim Mandviwala has criticized the Federal Board of Revenue (FBR) for using aggressive measures to meet its revenue collection targets.
The Senator made these remarks while addressing media persons a day earlier, expressing concerns about the economic impact of increased taxes. He also warned that a 10 percent rise in inflation is likely due to the new tax measures in federal budget 2024-25.
Highlighting the dire economic situation in Pakistan, Mandviwala criticized the current taxation strategy, noting that the imposition of taxes on basic items will significantly increase inflation.
He added that the government is unable to give relief to the general public due to severe economic conditions.
Mandviwala said he will present the committee’s recommendations to the House on Monday. Once approved by the Senate, these proposals will be forwarded to the National Assembly for further consideration. About 50 percent of the committee’s proposals are typically accepted by the government, he added.
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