Federal Minister for Finance Ishaq Dar said the federal government would direct provinces to impose strict financial discipline to ensure economic development. Every sugar mill would also have to pay tax, he added.
Talking to private TV channels, Dar stressed a need to end theft of sales tax for economic prosperity in the country. The government did not increase rates of basic necessities, he said.
Responding to a question, he vowed the government would strictly chase amounts owed to it.
Removal of the prime minister (PM) discretionary and secret funds were a big achievement of the new government, he added.
Dar said the government had asked independent power producers (IPPs) to pay their dues, adding that companies would be asked to reduce the rate of interest.
Tax was not imposed on pilgrims in the budget, he added, saying that only the commercial Hajj operators would be taxed.
He said the government was committed to reducing 40 percent expenditures to ensure financial growth.
The government would introduce reforms in Federal Board of Revenue (FBR) and steps would be taken to stop leakages in revenue collections, he said.
The finance minister appealed to the people to pay taxes, adding that there was no bearing on down-trodden people in the budget. The government would instigate seven schemes for the youth of the country, he added.
He assured that the Pakistan Muslim League-Nawaz (PML-N)-led government would also focus on reducing taxes following economic growth in the country. The new government had inherited loans from the former regime, which needed to be pay, he stated.
Replying to another question, he said the government would not take loans for settling circular debt, saying that new government would focus on utilising country’s natural resources to bring prosperity.
He underlined that the PML-N had introduced development schemes despite international sanctions during its previous regime. The new government would build up confidence among the international community since they were also analysing the government’s performance, he added.
