Govt hints at cheaper industrial power, tax relief for the salaried

While state-owned power distribution companies have sought an over 400 per cent increase in security deposits from consumers, two federal ministers advocated for cheaper electricity rates for industrial consumers and the rationalisation of the ‘disproportionate tax burden’ on the salaried class in the coming months. At an event organised by the Pakistan Business Council, Finance Minister Muhammad Aurangzeb was of the opinion that the salaried class in the country was facing a “disproportionately high tax burden” that should be eased. He was uncertain about potential changes to tax slabs in the upcoming budget due to the ongoing programme with the IMF. However, he assured that the tax filing system for salaried individuals would be simplified, reducing the need for tax consultants and advisers.