Advisor to the finance minister Khurram Shahzad said on Sunday the prime minister’s top priority was to alleviate the tax burden on the salaried class and concrete steps were being taken to achieve this goal, while institutions currently not paying taxes would be brought under the tax net.
In an exclusive conversation with ptv news, Advisor to the Finance Minister revealed that the government is committed to providing tax relief to the salaried class.
Shahzad stated that institutions including agriculture currently not paying taxes will be brought under the tax net, ensuring a fairer distribution of tax obligations, adding, this move is expected to boost economic growth and provide much-needed relief to the middle class.
Khurram Shahzad also welcomed the collective efforts of Pakistan’s four provinces in introducing reforms for agriculture and restructuring the tax system.
He said this move aims to boost economic growth and provide relief to the middle class, adding, the provinces have been working together to implement these reforms, which include changes to the agricultural income tax regime, set to take effect from January 2025.
Responding a query, he said the present government is fully committed to boosting exports, particularly in the textile sector and will facilitate other institutions to increase their exports.
To achieve this goal, the government will provide various incentives, including addressing the long-standing issue of high electricity costs, he added.
By reducing electricity costs, the government aims to enhance the industry’s competitiveness and increase exports, he mentioned.
Furthermore, the government will also focus on resolving other key challenges facing the textile sector, such as the withdrawal of zero-rating on local supplies for export manufacturing and the cumbersome sales tax refund system, he added.
The Advisor to the Finance Minister further expressed his appreciation for the Prime Minister and his finance team, acknowledging the positive signs in the economy.