PTI Leader Rejects 'Super Tax' On Large-Scale Manufacturing Units.

ISLAMABAD -- Lashing out at the government for imposing 'Super Tax' on large-scale industries, Pakistan Tehreek-e-Insaf (PTI) Secretary General Asad Umar said Friday that the move would prove counter-productive; as such measures of the ruling coalition would not only increase inflation and unemployment in the country but also squeeze the economy further.

Speaking at a press conference here, he said that imposition of super tax was a huge blow to the growing industries because it was levied on the sectors generating employment. 'Therefore, the new tax would increase rank and file problems, as it would cause unemployment.'

He further said that the Pakistan Muslim League-Nawaz (PML-N) led government presented the 'real budget today' as earlier one presented in the National Assembly was provisional. He added that the government had violated the Constitution by doing so as the Senate would not be able to discuss the matter of imposition of super tax, which has already given its recommendation on the Finance Bill 2022 to the lower house of parliament.

Asad Umar said that Prime Minister Shehbaz Sharif claimed in his speech that the country was going bankrupt; however, he added that Imran Khan's government had worked hard to increase foreign exchange reserves in three and a half years.

He claimed that at the end of PML-N government, the foreign exchange reserves were $9. 97 billion in June 2018, which surged by about $7 billion to $16.4 billion by the day the no-confidence motion was tabled to topple the 'well-performing' PTI government. But now the foreign reserves have declined by half, he said, adding that the PML-N brought the country to the brink of default.

'In our time, the country's growth rate had reached 6 percent, it was not bankrupt, as industries, agriculture, exports and remittances were booming,' he added.

The former federal minister also stated that the PML-N presented the real budget today, as the government made the announcement about the super tax after 14 days bypassing the Senate which was a sheer violation of the...

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