FPCCI rejects plan to impose more taxes in budget.

LAHORE -- The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday rejected the government's plan of imposing additional taxes in the upcoming federal budget 2021-22 under the International Monetary Fund's deal.

'The government and the IMF have reached a staff level agreement to revive the stalled $6 billion programme by disbursing $500 million as third tranche and assigning the task to the government to generate additional Rs700bn from the trade and industry through new taxes in the upcoming budget,' the FPCCI's ruling group of businessmen panel Chairman Mian Anjum Nisar said in a press release.

Mr Anjum termed the frequent increase in electricity tariff and petroleum products' prices along with burden of new taxes at the behest of the IMF a dangerous game for the economy of the country, as it would make the Pakistani...