RAWALPINDI: A total amount of Rs 1460 million was declared by holders of concealed income by midnight of Aug 31 — the deadline set for the purpose by the Government, the Finance Minister, Mr Mohammad Hanif, disclosed this evening [Sept 2] in his speech over Radio and Television. The Minister categorically contradicted rumours circulated by certain irresponsible and anti-social elements about the demonetization of currency notes.

Mr Hanif said, “I want to take this opportunity of assuring people on behalf of the Government that there is absolutely no truth whatsoever in a rumour circulated by certain ... elements about the demonetization of currency notes. There is no need or justification for it and the Government has no intention at all of having recourse to it.”

He said in addition to Rs 1460 million, there are declarations filed in sealed covers pertaining to cases under appeal. “I expect the total declarations to exceed Rs 1500 million,” he added. Around Rs 270 million have already been realised as tax on this “declared income”. Mr Hanif said “I want to reiterate the assurance that all those who have declared their undisclosed income correctly need entertain no apprehension … about any Government action in this behalf. The Government will faithfully abide by its commitment... .” — News agencies

Published in Dawn, September 3rd, 2026