Govt committed to digitalizing national economy: finance minister

Finance Minister Muhammad Aurangzeb has said that the government was committed to digitalising the entire system of the national economy besides fixing the tax system in the country, reported 24NewsHD TV channel.

Addressing a seminar which was arranged by the Federation of Pakistan Chamber of Commerce and Industry in Islamabad, the Finance Minister said that the government was making lot of work to widen the tax net system in the country. He said the interim government had brought big reforms in the system and the N incumbent was working hard to strengthen the system.

He said the government was working hard to shut down the Ministries which were not working. He said in order to achieve micro stability, the government will have work together with the IMF.

He said the advice of the businessmen will be entertained regarding tax reform. He said the government was committed to improve the performance of FBR. He said FBR must stop entertaining the businesses. He said pension was huge burden on the government and in order to cut the expenses, it was necessary for the government to slash the departments, which were showing zero performance.

He said the central bank of Pakistan will cut the policy rate this year. He said PTI government had made some work on IPP and the incumbent government also wanted to do some work on it.

The Finance Minister said that 60 percent of the income of the total taxes goes into the hands of the provinces. He said the government wanted to bring into tax net the big houses and farm houses and in this respect, the provinces must play their role. He said all stakeholders should work hard to solve the problems of the country.

Minister of State for Finance, Revenue and Power Ali Pervaiz Malik addressing the participants of the moot said that the government was taking hard decisions to bring the economy on track.

He said due to the government’s right steps, the inflation has slowed down to 12 percent from the record 40 percent.

He said the government will seek due advice of the businesses regarding the reforms.

Addressing the moot, former Minister Gohar Ejaz said that during the last one year, the price of the dollar has got stable. He said it was not true that traders and industrialists of the country were tax evaders. He said the government has not taken the business community on board while imposing huge tax on the industry.

He said no one can work in the country with 20 percent tax ratio. He said the government has put a brake on every activity. He said the exporters were of the view that this country cannot run in such a way.

Former Minister SM Tanvir said that why the government was not able to solve the IPP issue. He said how exporters can sell costlier items in the world. He urged the government to let the people and traders earn if they will earn they will pay the government.