Punjab govt focusing on self reliance

Provincial finance minister says business-friendly policies will help achieve it


Our Correspondent February 11, 2022

LAHORE:

The government of Punjab is working to increase the indigenous resources for the economic development of the province, said Punjab Finance Minister Makhdoom Hashim Jawan Bakht.

In a meeting with the International Monetary Fund (IMF) Country Representative for Pakistan Esther Perez Ruiz on Thursday, he stressed that the provincial leadership was pouring investment in education, health, agriculture and environment sectors.

“Introduction of business-friendly policies is being focused as they will lead the province towards self-reliance,” he said. “Tax reforms and promotion of modern trends introduced by the government are proving to be beneficial for the people of the province.”

Read: IMF loan supports stability: Ruiz

He shared that the leadership would also ensure implementation of long-term reform agenda for Punjab’s economic stability.

Bakht informed the IMF official that a major chunk of the provincial revenue was collected from taxes on services. In addition, property tax is also added to the provincial kitty, he said.

The Punjab finance minister highlighted that the provincial leadership was working with the federal government to increase revenue generation at the national level. Reforms are also being introduced in public-private partnership projects, he stressed.

“Subsidies are being provided under the federal government’s Ehsaas Programme to combat inflation by ensuring an increase in the purchasing power of the consumers,” he elaborated.

Replying to a question about transparency in the distribution of the Ehsaas Programme, the minister explained that “the indicators for measuring poverty have been set while access to cell phones for direct cash transfers is mandatory for individuals eligible to benefit from the scheme”.

Published in The Express Tribune, February 11th, 2022.

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