Kamyab Kisan project on the cards

Tarin says only two taxes will exist in future, other levies will be abolished

Our Correspondent November 09, 2021
Finance Adviser Shaukat Tarin said Pakistan had to increase the tax-to-GDP ratio to at least 20% to improve living standards of its people. photo: file


The Kamyab Jawan Programme will bring a grassroots revolution in Pakistan and pave the way for making the country a welfare state, remarked Adviser to Prime Minister on Finance Shaukat Tarin.

Speaking at the Kamyab Jawan Convention at the Islamabad Chamber of Commerce and Industry (ICCI) on Monday, the adviser said that several resource-deficient countries like Japan had achieved phenomenal economic growth by focusing on human resources development.

“Prime Minister Imran Khan’s vision is to promote youth to place Pakistan on a sustainable growth trajectory,” he said.

Tarin pointed out that the Kamyab Jawan Programme was a complete package to steer entrepreneurship and skill development among the youth.

Announcing that the Kamyab Kisan Programme would be launched soon, he reiterated that the government was focused on promoting agriculture and small and medium enterprises (SMEs).

“The goal of these schemes is to regain the lost economic glory of Pakistan,” he remarked.

“Only two kinds of taxes will exist in future, ie income tax and consumption tax, and all other levies will be abolished,” the adviser announced.

He assured the event participants that the leadership would resolve all tax-related problems of traders and protect taxpayers from harassment by government departments.

Pakistan, however, has to increase the tax-to-GDP ratio to at least 20% to improve living standards of its people, he stressed.

Speaking on the occasion, Special Assistant to Prime Minister on Youth Affairs Usman Dar highlighted that business loans ranging from Rs100,000 to Rs25 million would be provided under the Kamyab Jawan Programme.

He said that Rs100 billion had been earmarked for providing loans to the youth and borrowing of Rs30 billion had so far been approved for 22,000 applicants.

He added that the Kamyab Jawan Programme had so far created 50,000 jobs and the Skills for All initiative had an employability ratio of 60-70%, which showed its success.

ICCI President Muhammad Shakeel Munir appreciated the launch of Kamyab Jawan Programme and assured the visiting officials that the chamber would fully cooperate to make the scheme a success.

“Youth is the most precious asset of the country and focus on young entrepreneurs will drive Pakistan towards rapid economic growth and help reduce unemployment,” he said.

In addition, the government should address concerns of traders about tax matters including the installation of point of sales, digital payments and sharing of taxpayer data by the National Database and Registration Authority (NADRA) with the Federal Board of Revenue.

Published in The Express Tribune, November 9th, 2021.

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