Budget 2020-21: PM Imran directs to provide relief to small businesses

Budget 2020-21: PM Imran directs to provide relief to small businesses

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Islamabad: Prime Minister Imran Khan has issued a special directive requesting relief for small businesses in the upcoming budget for fiscal year 2020-21.

According to the Federal Board of Revenue (FBR) sources, relaxation in taxes and duties will be provided to industry, agriculture and agricultural equipments, small businesses, imported raw material and machinery while additional custom duty can be reduced by three percent.

It has been decided to increase non-tax revenue to overcome the deficit, which may generate Rs 11,000 crore in revenue. The source also claimed that the strictest austerity campaign will be introduced in the budget because the campaign is considered to prohibit the luxury consumption of various ministries, including the purchase of new cars and air conditioners.

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