From The Past Pages Of Dawn: 1972: Fifty Years Ago: Deficit Sind budget.

KARACHI -- The Chief Minister of Sind, Mr Mumtaz Ali Bhutto, yesterday [June 19] presented a Rs 2.61 crore deficit budget for the province for 1972-73, but announced that instead of any new taxes he was proposing to meet the shortfall by mobilising resources through rationalisation of tax collection procedure and increase in certain levies.

In determining the increase in taxes, he said, the three main considerations were the paying capacity, status quo in taxes affecting the middle and the lower-income groups, and liberal tax exemptions in some cases to the low-income group. He estimated the revenue receipts at Rs 57.07 crores and the revenue expenditure at Rs 57.99 crores - a deficit of Rs 92 lakhs...