No new taxes to be introduced in mini-budget: Shaukat Tarin
KARACHI: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Friday refuted claims that the government would introduce any new taxes in the mini-budget following an agreement with the International Monetary Fund.
But went on to say that the government would withdraw some of the exemptions granted to the business community.
Addressing the First GEM Board Listing Ceremony as a chief guest at Pakistan Stock Exchange, Tarin said that misconceptions were spread about the IMF agreement.
He said that 223 new companies have started with small investments, GEM Board Trade Financing will help in improving the capital market.
The adviser acknowledged the increase in tax rates and the introduction of new taxpayers and said that 40 allied industries are associated with the construction sector, the registration of companies has increased by 20 per cent as compared to the past.
“We have to restore the confidence of the people in the stock market. SMEs are playing a vital role in the economy of the country,” he added.
Referring to small and medium enterprises (SMEs), the financial adviser said that ironically up to 5 million SMEs and only 170,000 SMEs get loans from banks.
He stressed that SBP too is playing a role in repaying loans to SMEs and the finance ministry is trying to maintain interest rates.
Tarin underscored that the business community in Pakistan should enjoy the same benefits that the neighbouring countries offer.
Skardu Airport opens for international flights
Skardu Airport started international flights from Thursday to promote tourism. In a...
Fawad welcomes ECP committees on EVMs, voting right for overseas Pakistanis
Federal Minister for Information and Broadcasting Chaudhry Fawad Hussain, on Thursday, welcomed...
Saudi military delegation witnesses Pakistan Army’s battle inoculation exercise
RAWALPINDI: Okara Formation at Khairpur Tamewali Ranges in Bahawalpur conducted the field...
PSX plunges over 1,900 points at midday
KARACHI: The Pakistan stocks plunged 1,922 points, or 4.24 per cent, at...
BRT Peshawar gets 'honourable mention' in Sustainable Transport Award 2022
Peshawar Bus Rapid Transit (BRT), a new public transport system with air-conditioned...