PM Shahbaz announces 10 per cent ‘super tax’ on large scale industries

Prime Minister Shehbaz Sharif on Friday announced that the government will impose a 10 per cent “super tax” on large-scale industries to support and provide relief to the country’s poor sections amid rising inflation.

These sectors include cement, steel, sugar industries, oil and gas, fertilisers, LNG terminals, textiles, banking industries, automobiles and cigarette manufacturing industries.

In an address today, the Prime Minister took the nation into confidence on the tough budget decisions. He said the coalition government took “courageous” decisions to save the country from “grave threats”.

He recalled that when it came to power for the first time, the government had two options: call fresh elections or take tough decisions and deal with a sinking economy. “It would have been too easy to leave the public in trouble and be a mute spectator like others.”

And despite the challenges, the prime minister pointed out, the government chose the latter.

He said that history is witness that it was always the poor people who made sacrifices in difficult times. He said, “Today is the time for the affluent citizens to play their part. It is their turn to show selflessness. And I am sure they will do their bit to play their part.”

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