Will increase salaries next year: Finance Minister

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ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Ishaq Dar has said that austerity measures would save Rs40 billion. Addressing a post-budget press conference here on Thursday, the minister said that the government was going to tax Haj operators instead of pilgrims, adding that the government had put the country on the right path from day one.He said that the government would increase the salaries of government employees next year.

Dar said that GDP growth would have to be taken to 7 percent if energy crisis was to be resolved.

He said that cut in ministries’ fund would save Rs40 billion, adding that per capita income stood at 1,356 dollars and the government had set target of 100 dollar increase in the per capita income for the next year.

He said the government had set a target to achieve 15 billion dollar remittances during 2013-14.

Dar said during current financial year government has received 14 billion dollar remittances.

The minister said the government has also set target of 20 billion dollar remittances for June 2016.

He said that they debts would be decreased to the 61.5 percent of GDP, adding that Pakistan was in dire need of taxes. He said that maximum tax on salaried class stood at 30 percent while there were only 3114 people earning over 7 million per year.