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Pakistan facing acute financial crisis: FBR Chairman
Updated at: 1557 PST, Saturday, October 22, 2011
LAHORE: FBR Chairman Salman Siddique said Pakistan was running on loans, while the country was currently facing a severe financial crisis, Geo News reported. Siddique added that the budget deficit had swelled up to Rs600 billion.
Addressing the Lahore Chamber of Commerce, Salman Siddique said seeking assistance from the IMF was due to our utter inability and if required we could approach them again.
Everyone in Pakistan criticizes, but none are prepared to pay tax. The entire amount of tax collected is spent on defence and payment of loans. Siddique said.
FBR Chairman said that full implementation on the Afghan Transit Trade Agreement had already started.
Pakistan facing acute financial crisis: FBR Chairman - GEO.tv
Updated at: 1557 PST, Saturday, October 22, 2011
LAHORE: FBR Chairman Salman Siddique said Pakistan was running on loans, while the country was currently facing a severe financial crisis, Geo News reported. Siddique added that the budget deficit had swelled up to Rs600 billion.
Addressing the Lahore Chamber of Commerce, Salman Siddique said seeking assistance from the IMF was due to our utter inability and if required we could approach them again.
Everyone in Pakistan criticizes, but none are prepared to pay tax. The entire amount of tax collected is spent on defence and payment of loans. Siddique said.
FBR Chairman said that full implementation on the Afghan Transit Trade Agreement had already started.
Pakistan facing acute financial crisis: FBR Chairman - GEO.tv
