Summary Experts said that trillions could be added to the national treasure if federation serious
ISLAMABAD (Dunya News) – Loans by commercial banks to the federal government have increased at least fourfold in the first three months of the ongoing fiscal year due to slackness in increasing income through tax.
The State Bank of Pakistan in a report stated that the banks have lent the government at least Rs 400 billion during July-September period in 2015. The report further stated that the government was given Rs 110 billion in the last fiscal year.
On the other hand, the federation has returned Rs 45 billion to the State Bank in the first quarter of the year. Economic sector’s experts are of the point of view that trillions could be added to the national treasure if the federation strives to increase tax income with all seriousness.
The experts have said that the federation could impose tax in different sectors including agriculture and real estate to stop living off loans.
