Government to impose 50 pc petroleum levy on the people: Shaukat Tarin

Pakistan Tehreek-e-Insaf (PTI) leader and former Finance Minister Shaukat Tarin on Wednesday claimed that the incumbent government will impose 50 percent petroleum levy on the people because the current rulers have promised the International Monetary Fund (IMF).

Addressing a seminar in Islamabad, Shaukat said when the PTI government came into power there was a deficit of $19 billion in 2018 because Ishaq Dar’s economic policies damaged the economy of $33 billion, adding that the current rulers are going towards fixed tax system and they have promised the IMF to impose 50 percent petroleum levy on the people.

Earlier, addressing a press conference, the former minister claimed that government will increase petrol and electricity price from July 1. IMF had refused to release the loan tranche before budget so the Shehbaz Sharif led government presented the finance bill hurriedly, he added.

Shaukat Tarin added that right now inflation stands at 28 percent which is likely to increase to 35-40 percent while government is only targeting a growth rate of 5 percent. He further said that current government wanted to come in power just to amend NAB and election laws for their benefit.