This year we are seeing healthy growth in revenues: Hammad Azhar

Arhama AltafWeb Editor

06th Apr, 2021. 10:48 pm
Hammad Azhar

New finance minister Hammad Azhar hopes for healthy growth in Pakistan’s economical revenues and is confident of achieving the targets.

Taking to his Twitter, Hammad wrote, “Pakistan’s economy will this year grow at a faster rate than earlier forecasts. Starting from next fiscal year, we will be targeting an even higher growth rate that may exceed 4% per annum. This growth will not be based on deficits or depleting reserves but will be sustainable.”

He further added that the government will continue to crackdown on tax evasion and treat tax broadening as a real priority and not just a cliche.

“This year we are seeing healthy growth in revenues & are confident of achieving our targets. Whilst we will continue to crackdown on tax evasion, we will treat tax broadening as a real priority and not just a cliche. Solid programs will be devised for this objective,” tweeted Azhar.

On the other hand, Federal Minister for Finance, Revenue, Industries and Production, Hammad Azhar, held a virtual meeting with Mr. Hartwig Schafer, Vice President South Asia Region, World Bank Group at the Finance Division today.

Minister reiterated that the government is fully committed to implementing structural reforms, protecting social spending and boosting social safety nets in order to protect the vulnerable segments of the society.

He appreciated the pivotal role being played by the World Bank in strengthening governance and service delivery through institutional reforms in Pakistan over the years.

Hammad Azhar Resumed Charge As New Finance Minister

Earlier, Minister for Industry and Production Hammad Azhar was appointed as the new finance minister on Monday after replacing Dr Hafeez Shaikh over “his poor performance due to rising inflation” in the country.

According to sources, Hamad Azhar was being made the finance minister in view of his double budget presentation.

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