*ISLAMABAD – ** PTI government sets highest ever revenue target of historyfor FY 2019-2020.*
*FBR chief Shabbar Zaidi has been given a Rs5,550 billion tax collectiontarget for the next fiscal year, said Finance Adviser Dr Hafeez Shaikh.*
He was speaking at a press conference held in Islamabad. FBR chief ShabbarZaidi, Special Assistant to the Prime Minister for Information andBroadcasting Firdous Ashiq Awan, Federal Minister for Power Omar Ayub,Minister of State for Revenue Hammad Azhar and Federal Minister forPlanning, Development and Reforms Makhdoom Khusro Bakhtyar were alsopresent on the occasion
He explained the situation of the economy after the previous government’stenure ended, highlighting that the foreign loans Pakistan took hadamounted to around $100 billion. In the previous government’s last twoyears, our reserves fell from $18 billion to less than $10 billion, he said.
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The performance of exports in the last five years has been 0% and ourdeficit was $20 billion, said Shaikh, adding that the devaluation of thedollar had started by December, 2017 and the momentum of growth had brokenwhile inflation was rising.
The immediate responsibility given to the [new] government was not to letthings slip away, he said, adding that a basic structure needed to be madeto better the situation.
