RAWALPINDI: Federal Finance Minister Mohammad Ishaq Dar said that slabs on customs duty would be decreased from five to four in next fiscal budget. He said that according to list provided by Federal Board of Revenue refunds amounting to Rs 5 million will be paid to 33,000 people till March 15, 2016.
Addressing the traders here he said, that Pakistan Muslim League-Nawaz government had always put the country’s economy on the track of speedy growth.
The Minister said that 22 international financial institutions have declared Pakistan’s economy as stable. The government has managed to bring down the budget deficit to 4.3 percent of the GDP from 8.8 percent.
Ishaq Dar said that PML-N government is working to transform country’s economy vibrant by all aspects. “The PML-N leadership has firm belief that the economy can grow at a faster speed and we all are committed to achieve the goal,” he added.
“I have firm belief and faith that Pakistan has great potential to progress and has a bright future that is why, we have almost overcome various major challenges by making remarkable achievements in these directions.”
The Finance Minister said that present government’s prudent and effective policies had ensured tax growth rate up to 33 percent in two years while it was mere 3 percent in the past.
This government has the credit of setting new record by taking foreign exchange reserves more than US$ 20 billion. Ishaq Dar further said, issue of stock exchanges merger could not be resolved during the last 15 years but the present government ensured their merger within a short time and on January 11, Pakistan Stock Exchange replaced all three exchanges- KSE (Karachi), LSE (Lahore) and ISE (Islamabad).
The Minister said that government is trying to make tax collection system more simple and easy, and assured the taxpayers that no tax official would harass them. The government has announced Voluntary Tax Filing Scheme for traders, which would help increase revenue and take the country forward on the path of progress and development, he added. The business community should play their part in nation building, he said adding, this scheme was designed by the Federal Board of Revenue (FBR) taking all stakeholders on board.
Special Assistant to Prime Minister on Revenue Haroon Akhtar highlighted the salient features of the scheme while Chairman FBR Nisar Muhammad Khan was present on the occasion.
