From The Past Pages Of Dawn: 1972: Fifty Years Ago: Taxes to net 26 crores.

MURREE -- The Finance Minister, Dr Mubashir Hasan, today [June 17] proposed to mobilise national resources to the extent of Rs.26 crores through additional taxation and adjustment in other levies. Announcing the budget for 1972-73, he said in framing taxation proposals, he had kept ... major considerations in view: (1) taxpayers' in lower income brackets should get relief, (2) recourse to indirect taxation should be minimum, (3) procedure for calculation of income tax simplified, and (4) tax on capital and wealth should be enhanced. ... The new Budget increases excise duties on three items: petrol Re one per gallon, cigarettes costing 20 paisa...