Karachi: Renowned economist Dr Hafeez Pasha said on Thursday that the government would have to face a budget deficit of over Rs12 trillion in the current fiscal year.
He said that the government would have to issue currency notes worth Rs10 trillion to cover the deficit.
Expressing his concerns over increasing inflation, Dr Pasha told journalists that the budget deficit would go out of control till the end of current fiscal year.
“The government has no option but to print trillions of currency notes” he added.
While suggesting remedial measures Pasha said that improvement in the existing taxation system is mandatory following the failure of government in imposing the RGST.
He added that imposition of agricultural tax and excessive printing of currency notes would lead the country to worst inflation.
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