Income tax returns 2021: Finance Minister Shaukat Tarin hints at extending deadline

• The government is likely to extend deadline for filing tax returns.  
• The government will establish commodity warehouses and cold storages in the country to facilitate the growers, says Tarin.
• The finance minister said that wheat prices will fall in the coming days due to the government’s effective measures.

ISLAMABAD: Finance Minister Shaukat Tarin Tuesday hinted at extending the deadline for filing income tax returns.

Addressing a news conference in Islamabad today, the finance minister said that the Federal Board of Revenue’s (FBR) system had been non-operational for the past 10 days.

He said that he would talk to the tax collection boy about the extension in September 30 deadline for filing the tax returns.

Targeted subsidies

Speaking about the efforts to facilitate the vulnerable segments of the society, Shaukat Tarin said the government will start giving targeted subsidies on essential commodities from this month.

The targeted subsidy will be in the form of cash assistance, which will cover 35% to 40% of the population, said the finance minister.

Agriculture sector

he said, adding that commodity warehouses, cold storage will be established in the country to facilitate the growers.

The finance minister vowed that the government will eliminate the role of the middle man and will ensure that the farmers get the due price of their products.

‘Wheat prices to fall in coming days’

The finance minister said that wheat prices will fall in the coming days due to the government’s effective measures.

“The government has tried its level best not to fully pass on to the masses the impact of the international increase in the prices of commodities,” said Shaukat Tarin.

Talking about the hike in sugar prices, the finance minister said that the prices of the commodity increased by 48% in the international market but we only increased its price by 11%.

Similarly, the prices of crude oil and wheat were not enhanced as per the international market, he added.

Kamyab Pakistan Program

Kamyab Pakistan Program will be launched this month in order to enable the weak segments of the society to earn their livelihoods, said the finance minister.

He said we are on the track to achieve 5% growth during the current fiscal year. This, he said, will also help reduce our debt to GDP ratio.