PM emphasizes role of industry to steer country out of economic difficulties

PM emphasizes role of industry to steer country out of economic difficulties

Prime Minister Imran Khan has emphasized the key role of industry to steer the country out of economic difficulties

Addressing annual ceremony of Gujranwala Chamber of Commerce and Industry in Islamabad on Wednesday afternoon, he said seventy percent tax of the country is contributed by some three hundred companies. The Prime Minister assured that government will lift the industrial sector up with friendly policies. He said a golden triangle is being established comprising Gujranwala, Gujrat and Sialkot to facilitate the industry.    

Referring to the burden of debts on economy, the Prime Minister said half the taxes collected last year were spent on paying the interest on existing loans. He said the government is determined to expand the tax net. The government will provide facilitation to people and resolve the problems they face in filing of returns.  He said only one point five million people pay taxes out of population of two hundred and twenty million which is a very low proportion. He said steps are being taken to improve performance of Federal Board of Revenue.  

The Prime Minister said government is fully focused on increasing the exports of the country and for this purpose exporters are being incentivized.  

Imran Khan said ease of doing business is also being improved in the country and he is personally supervising it. He said crackdown has been launched on smuggling too as it is another factor, weakening the economy. He said meetings have been held with all security agencies to curb this menace. Prime Minister said talks are also being held with Afghanistan on transit trade.

He said government's vision is to turn the country into a welfare state on the pattern of Madina state. He said unless we follow the principles on which Prophet Muhammad (Peace Be Upon Him) built the state of Madina, we cannot be successful. The Prime Minister said the underlying principles of state of Madina were compassion, justice, rule of law, welfare state, and looking after the women, children and elderly. Imran Khan said two separate laws cannot be applied on rich and poor. He said in Madina state rich were taxed higher to provide benefits for the poor.

Referring to corruption by the previous governments, he said the people who looted the economy and stashed money abroad have no stakes in the country.