Pakistan, May 28 -- Chairman of the Senate Standing Committee on Finance, Senator Saleem Mandviwalla, has warned that the upcoming federal budget will increase the financial burden on the public. Speaking during a television interview, he pointed to a planned rise in the petroleum levy as a major reason. He said the government intends to use this levy to cover a revenue shortfall of Rs700 billion.

Mandviwalla, a former finance minister, also criticized the Federal Board of Revenue (FBR) for its poor performance. He said schemes like the Tajir Dost Scheme (TDS), meant to bring traders into the tax net, have failed badly. The TDS was supposed to collect taxes from shopkeepers based on the value and size of their businesses. However, it has...