The perception that we have imposed taxes worth Rs500bn is wrong as we have imposed taxes of Rs120bn, says Dar.
In its fifth budget, the PML-N government has imposed around Rs120bn worth new taxes.
Finance Minister Ishaq Dar claimed in his speech the cement industry will absorb the increase in the FED.
The government has set the target of obtaining foreign loans worth Rs810.74bn for fiscal year 2017-18.
Industry stakeholders express concerns over Rs500 billion increase in FBR's collection target.
The Gross Revenue Receipts comprise internal resources, external resources and privatisation proceeds.
Both the President House and PM Office spent 12 to 17 per cent extra money than allocated to them in 2016-17.
Under the Annual Plan 2017-18 released on Friday, the agriculture sector is targeted to grow by 3.5pc.
PML-N's fifth budget allocates more than Rs1tr to development projects, Rs920bn to defence spending.
Rs4.47bn have been allocated for ongoing and new schemes falling under the Defence Production Division's purview.
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