Salim Mandviwala, the chairman of the Senate Finance Committee, has chastised the Federal Board of tax (FBR) for taking drastic steps to reach its tax collection goals.A day earlier, the Senator addressed the media and voiced worries on the potential economic effects of higher taxes. He also cautioned that the new tax policies in the federal budget for 2024–2025 would probably cause inflation to increase by 10%.Mandviwala questioned the present taxing system, pointing out that tariffs on basic commodities will greatly increase inflation and highlighting Pakistan’s severe economic situation.
He continued by saying that the dire economic circumstances prevent the government from providing aid to the broader populace.Mandviwala announced that he will deliver the committee’s findings to the House on Monday. These suggestions will be sent to the National Assembly for additional consideration after being approved by the Senate. He said that the administration usually accepts around half of the committee’s recommendations.
