ISLAMABAD – Finance Minister Asad Umar says government has started thefirst phase of giving relief to the people and bringing reforms to achieveeconomic stability.
Talking to a group of anchorpersons in Islamabad today, he saidconsultations were held with stakeholders to devise a course of action anddifficult decisions had to be taken.
The Finance Minister said the purpose of reforms package is to increaseinvestment in the country. He said taxes will be on profit earned and noton investment.
Asad Umar said financial package has been given to increase the capacity oflocal industry.
Underpinning the role of private sector for development of nationaleconomy, he said private sector is being encouraged for employmentcreation, and increasing the revenue and exports. He hoped that targets setin Finance Bill will be achieved by September this year.
The Minister said real issues in the public sector institutions are ofgovernance.
Read Top Stories
He said industry and agriculture have been given incentives in financialpackage. He said tax on filers has been abolished while it has beenincreased on non-filers by fifty per cent.
He said the number of filers has increased to 1.45 million from 1.1million. On a question, he said government is in contact with IMF andscheduled consultations are being held.
He said PSM will be enabled to stand on its feet and its productioncapacity will be enhanced to three million tons.
