Exporters and local suppliers divided over issue of withdrawal of tax concessions

Could also increase tax on interest income to 30%

Revenue collector found that hardly 10% of over 50m bank account holders were tax filers

IMF conditions responsible for high cost of retiring foreign loan

Raises questions over SBP’s move to increase discount rate to 12.25%

Proposes to offer educational institutions, jewellers, SMEs, builders to pay lower than standard tax rates

Inflows expected from bilateral and multilateral lenders, Eurobond float and IMF

Steep shortfall makes next fiscal year 2019-20’s proposed target of Rs5.550 trillion unrealistic

Minister for planning and development will head the secretariat

Fund has been conceived and approved without involvement of SECP