ISLAMABAD - Finance Minister Saleem Mandviwalla said on Saturday around 1.5 million people have the national tax number (NTN) out of which only 0.9 million pay their taxes.
According to a private TV channel, the minister, while talking about terminating the requirement of NTN while purchasing a car, said this would not affect the tax collections negatively because people were issued NTN while purchasing a new car but they destroyed it afterwards.
He said the Finance Ministry was reviewing the flat rates of agricultural tube-wells and if they were approved, then the subsidies would be allocated promptly.
About the new budget, Mandviwalla said the federal budget for the upcoming financial year 2013-14 would be prepared by the new government not the caretaker set-up.
If the new national assembly and the elected government came into before the elections, then they would prepare and present the next budget; otherwise, the caretaker government would prepare it and the interim cabinet would give it a temporary ascent whilst its upholding and implementation would be subjected to the final approval of the elected parliament that would come into power after the elections.