Finance Minister Asad Umar unveils an ambitious target for Pakistan economic growth

Finance Minister Asad Umar unveils an ambitious target for Pakistan economic growth

LAHORE - Finance Minister Asad Umar has assured to fully facilitate the businesses and investors to bolster the country's exports.

Addressing a ceremony of Federation of Pakistan Chambers of Commerce and Industry in Lahore on Monday, he assured that a simplified procedure of tax returns for individuals and entrepreneurs will be introduced in the current year.

He said we will also recognize the top taxpayers and a ceremony in this regard to be chaired by the prime minister will be held to encourage the people to come in the tax net.

Asad Umar said the industrial sector has an important role in the economy and steps are being taken to address their problems including those relating to energy.

He said there is need of reforms in the energy sector. Net metering system has been introduced in the federal capital and it will be replicated in other parts of the country as well.

Asad Umar said special economic zones will be set up under the multi-billion dollars China-Pakistan Economic Corridor project.

He said the Economic Coordination Committee at its meeting on 5th of next month will deliberate upon early operationalization of these zones.

Addressing a ceremony of Lahore Chamber of Commerce and Industry, in Lahore today, Finance Minister Asad Umar said our target is that the country's economy grow by seven percent on sustainable basis.

He said this target can be achieved by encouraging savings and investments in different sectors of the economy.

The Finance Minister said the economic reforms package unveiled by the government on 23th of this month has been appreciated by the business community. He said this reforms package is just a beginning and more will be done to encourage exports and facilitate the businesses.

Asad Umar said promissory notes are being introduced to address the liquidity issue of the businesses.

The Finance Minister said the government is also focusing on the development of IT sector and a reforms package will also be given to the IT related industry.