KARACHI : Advisor to Prime Minister (PM) on finance Dr Abdul Hafiz has said country’s exports have started soaring up after corona virus and tax revenue collection by FBR has improved.
He said this while addressing Pakistan Stock Exchange in Karachi on Monday morning,
He held Pakistan is the best market of Asia at present. All know the problems facing the economy but we have to gather a best team. We are bringing new equipment for improvement in national economy and for boosting investment.
He observed we want to give autonomy to the institutions. Budget was enhanced despite curtailing government expenses. We are providing subsidy on electricity, gas, tube well and fertilizers.
If sales tax refund is not ;paid within 72 hours then contact me, he announced. Government came under attack for rectifying exchange rate.
“We all will work together and tap the potential of national economy fully, he said adding we will explore new markets for Pakistani products. We will come upto the expectations of people”, he added.
He announced that Gas Infrastructure Development Cess (GIDC) matter will be addressed amicably. Government has assured it will do not do any thing which shifts additional burden on business community because we need to bolster business activities at present.
He said corona virus affected business of several persons adversely. We will have to improve Karachi infrastructure to gear up; economic activities. Rs over 1000 -billion package has been announced for Karachi only to extend financial assistance to the ;poor people,.
We had to suffer for five months in terms of economic activities in the wake of corona virus but it will take a few months too to go ahead, he stated.
He pointed out that government has curtailed taxes to maximum extent in construction sector. Economic indicators improved due to well-conceived economic policies of the government, he added.
He said interest rate at international level is low, therefore, go to international level to obtain loan. We will have to cut our expenses to reduce our loans. The condition of the people cannot be changed unless dollars are earned.
We have to learn from the causes how the others have made headway or they have lagged behind, he said adding the countries which have made investment on their people have made progress.
He remarked government cannot run business; therefore, the business community should come forward.
He underscored no country can make progress unless it goes for trade or makes investment with other countries and plays pivotal role in stock market.
We should endeavour that stock market, its efficiency and transparency becomes Pakistan identity.
He said energy sukuk of Rs 200 billion is a big achievement and movement forward. This points to the fact that we want to do new experiments.
Providing conductive environment to foreign investors is our top priority, he added.
By shunning personal interests and curbing corruption we have to improve national economy and this is the foundation of politics of Imran Khan, he asserted.
