Punjab Finance Minister Hashim Jawan Bakht said that before COVID-19 pandemic the pace of development projects was satisfactory, development expenditures and revenue collection was balanced, huge investment was being made on health, education, industry, social protection and infrastructure development.
The minister chairing the 3rd meeting of resource mobilization committee meeting of budget 2020-21 said that public private projects were being launched and own source revenue was on growth trajectory with 29 percent growth. However, pandemic altogether changes the situation. He said the emergency expenditure to control the covid-19 pandemic and lockdown affected the both expenditures and revenue stream, alongside the economic activity as the business are closed down. Now the situation was coming in under control due to the government timely decisions, proper planning and untiring efforts to control the situation.
The minister said that extra burden could not be put on the public and problem of the taxpayers could not be increased in current situation. So the expansion of tax net and ensuring the tax collection from non-taxpayer is need of the hour. He said that improvement in services and alternate revenue generation sources was important in this time.
The minister instructed the excise and taxation department to review its revenue generation budget proposals and prepared the proposals in consultation with provincial minister for excise and taxation.
The meeting was attended by provincial ministers for industries and trade Mian Aslam Iqbal, Excise and Taxation Hafiz Mumtaz Ahmed, Board of Revenue (BOR) Malik Muhammad Anwar, Irrigation Mohsin Laghri and secretaries of concern departments.
Earlier, secretary finance Punjab Abdullah Sumbal briefed the meeting about the tax proposals of various departments to increase the revenue generation.