Hammad expects growth in revenue, achievement of targets

Author:

Minister for Finance and Revenue Hammad Azhar has expressed the confidence about healthy growth in revenue this year and achievement of the targets.

In a tweet on Wednesday, the finance minister said whilst the crackdown against tax evaders will continue, the government will treat tax broadening as a real priority. He said that solid programmes will be devised to achieve this objective.

The finance minister said that Pakistan’s economy will, this year, grow at a faster rate than earlier forecasts. He said the government will be targeting a higher growth rate from the next fiscal year that may exceed four per annum. He said this growth will not be based on deficits or depleting reserves but will be sustainable.

A day earlier, Finance Minister Hammad Azhar talking to Vice President South Asia Region, World Bank Hartwig Schafer, in a virtual meeting, reiterated that the government is fully committed to implementing structural reforms, protecting social spending and boosting social safety nets in order to protect the vulnerable segments of the society.

He stressed that harmonisation of general sales tax is a priority area for the government. He said the federal and provincial tax authorities are working out procedures for its smooth implementation. He expressed firm resolve of the government in implementing reforms under ongoing World Bank projects.