Pakistan will impose an extra one-time 10% tax on large scale industry for one year ahead of a deal to be finalized with the International Monetary Fund (IMF), Finance Minister Miftah Ismail said on Friday.
The announcement has come ahead of a crucial deal to be struck with the IMF for Pakistan which is facing a balance of payment crisis.
Ismail said a revised budget will raise the revenue collection target to 7.4 trillion rupees after the tax imposition.
Supertax payers are uniting to fight it. This is unpatriotic as it is a one time contribution to an economy that protects their profiteering that is at the brink of default. These industries should be policed to not pass it on to consumers and forced to reduce this years profitability,