Federal Finance Minister Dr Abdul Hafeez Shaikh has said the government was focusing on improving sales tax system and broadening tax net. Talking to the media here on Saturday, he said less than one million people gave income tax which should be increased.
He said from the last January till present, the stock market sector in the country was one of the best markets in the world and it that had increased 35 percent.
Hafeez Shaikh said the country had been in a financial crisis in 2008 but now, he added, in spite of all problems like flood, security, etc the growth rate would cross 4 percent, something that had been extremely low in the past.
The minister said inflation had reached 25 percent in the past, and the current government had reduced it to 8.5 percent.
He said tax collection was Rs 1000 billion in 2008 and now it was Rs 2000 billion and this year it would reach to Rs 2,300 billion.
“The provincial governments were given more money than the federal for improvement and betterment of the people,” he added.
“Our export is good and remittances would cross $ 15 billion,” the minister said. He said the aim behind the recent visit to the US had been to review relations with the U.S besides looking strategic relations and to increase Pakistan’s trade and investment. He said Bhasha Dam was a project of 8 to 10 years and the US government had made commitment to give $200 million for it.
‘We’re focusing on improving sales tax system’
