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Finance Minister Shaukat Tareen unveils ‘new strategies’ for stronger economy

Syed Umarullah HussainiWeb Editor

05th May, 2021. 04:06 pm
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Shaukat Tareen

Finance Minister Shaukat Tareen on Wednesday said that the Federal Board of Revenue (FBR) has made notable efforts in enhancing the revenue collection.

According to the details, Shaukat Tareen; while addressing a news conference in Islamabad said that more programs will be announced in the next budget to eliminate harassment to encourage the people to pay taxes.

‘There was the growth of 57 percent in revenue collection in April 2021, as compared to the corresponding period last year.’ Said the Finance Minister; adding that, ‘It is our target to further expand the tax base.’

He said twelve working groups have been constituted in the Economic Advisory Council to frame short, medium, and long-term policies for different sectors.

Shaukat Tareen said that price stability is our key focus and it is the priority of the government to check inflation to provide relief to the common man.

Finance Minister Shaukat Tareen said the scope of social protection will be further expanded under Ehsaas Program. Healthcare, employment, and skills development will also be made part of it.

‘The government is pursuing a policy to take the economy towards growth mode,’ said Tareen; adding that; ‘the goal will be achieved by incentivizing the industries, agriculture and housing sectors, which will also provide job opportunities to the people.’

Speaking about the reforms in the energy sector, Shaukat Tareen said that new reforms in the energy sector will be introduced and spending on the agriculture sector will be increased to strengthen this vital sector of the economy.

He said, ‘We also want to bring Foreign Direct Investment in the export-oriented industries in order to bolster our exports.’

He said there is a great potential for growth in IT. Its exports will remain two billion dollars this year and these can be enhanced to eight billion dollars in the next two to three years.

The Finance Minister said Pakistan will not come out of the IMF program but it will seek space from the financial institution given the current situation of COVID-19.

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