Reforms underway to improve tax system: PM Imran

Prime Minister Imran Khan said on Friday that reforms were underway to improve the tax system, adding that consultation with stakeholders would help accelerate the process.

Addressing a meeting with the chiefs of Pakistan's main chambers of commerce, PM Imran emphasised on the importance of industrial development for economic progress. “The government is providing incentives to industries to enhance exports,” he added.

He further directed the federal ministers to remain in contact with all stakeholders and hold regular meetings to listen to their problems and proposals.

According to the premier, the government was now focused on resolving issues through mutual consultations after having provided facilities to industrialists and businesses.

The participants of the meeting lauded the prime minister and his economic team for attaining 4% GDP growth despite Covid-19.

They also mentioned the 15% increase in large-scale manufacturing, increased incentives for the export industry as well as for small and medium enterprises provided by the State Bank of Pakistan. They also lauded the resolution of problems.

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They also praised the government for providing the business community an opportunity to benefit from potential trade with Uzbekistan.

The chiefs expressed satisfaction over the government's pro-business policies and the steps taken for Ease of Doing Business (EoDB).

The government and the business community agreed to devise a strategy with mutual consultation to increase tax revenue during the meeting.

Members of the chamber further commended the government’s initiative to directly listen to the proposals of the business community for the first time, highlighting the gap that existed between the government and the business community in the past.