Federal Finance Minister Senator Ishaq Dar said on Friday that the contribution of traders and business community was a pre-requisite for economic progress in the country.
Addressing the 28th Achievements Awards Ceremony organized by the Rawalpindi Chambers of Commerce and Industry, the finance minister said that the best way the trader and business community could help in this cause was by paying taxes and helping the government promote tax culture.
Dar said it was a great pleasure for him to be among the top performing businessmen and personalities from other spheres who had played a key role in socio-economic uplift of the country. “I have closely interacted with members of the business community. They have contributed well by putting forth proposals for tax reforms,” the finance minister said.
The minister said he was fully aware of the problems of the business community and said that the government was devising policies that could address their genuine issues in an appropriate manner. “Let’s sit together, discuss the issues and resolve them, that should be the spirit,” Dar said.
The minister on the occasion said that he wanted to convey the message to the investors around the world that Pakistan was an excellent destination for the foreign investors. “All international ratings agencies have given us positive ratings, the latest is Fitch which has awarded us a ‘B’ rating,” the minister said, adding that the country’s forex reserves stood at a record US $ 18.56 billion; the inflation rate in July –August 2015 had been the lowest in over a decade at less than two per cent while the policy rate was at six.
Dar said that there had been 33% increase in the revenue generation in the last two fiscal years, adding that this was all reflective of the stability in economy. He also said that just two days ago they had announced establishment of telecom centres in the areas of Zhob, Shangla and Sibi. “We want to facilitate people even in the remotest areas of the country,” the minister said.
He said that a Korean delegation was currently visiting Pakistan and would help in the field of telecom and IT. He said that with the government’s focus on energy, economy, education and addressing the scourge of extremism, the future would offer excellent opportunities to potential investors in Pakistan. We have an equal resolve to improve the lives of the poorest of the poor with increased focus on health and education.