NA speaker calls for tax reforms, phasing out indirect taxes

Discusses economic situation and measures with finance adviser

ISLAMABAD: Durable economic policies will usher sustainable growth in the country, said National Assembly Speaker Asad Qaiser.

In a meeting with Adviser to Prime Minister on Finance Abdul Hafeez Shaikh, who called on him on Saturday, the speaker highlighted that development of the country was directly dependent on its economic situation. The economic situation and measures initiated by the government for restructuring economy and generation of economic activity in the country came under discussion during the meeting, said a press release.

“Government inherited a messed up economy, however, it sagaciously handled the situation,” said Qaiser. “The immediate measures of the government aided in strengthening economy and building investors’ confidence.” The speaker urged the government to formulate durable economic policies, which should be pro-poor and people yielding low incomes must not get affected. He suggested tax reforms and phasing out indirect taxes in order to provide relief to the common man and steer sustainable economic growth. Qaiser also called for giving incentives to farmers. Speaking on the occasion, Shaikh apprised the speaker about steps taken by the government for revival of economy and generation of economic activity in the country. He said the government was focusing on broadening the tax base and taxes would be rationalised to ease burden of the common man.

“Policies of the government will generate economic activity through direct foreign investment, which will ultimately reduce lending by the government,” Shaikh said.

Current account deficit has also reduced due to the fiscal policies of the government, the adviser cherished. He added that the farming community would be given incentives so that the country could become self-sufficient in food as well as produce raw material for industries. Shaikh also informed the speaker regarding substantial budgetary allocation under ‘Ehsaas’ program of the government for social protection to marginalised segments of society.  

Published in The Express Tribune, September 1^st, 2019.

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