Finance Minister Ishaq Dar has said that the country’s economy has been put on positive trajectory due to reforms introduced by the government in different sectors.
Addressing a pre-budget seminar on Saturday, he said that tax revenue collection had witnessed an increase of 56 per cent over the last three years.
He said tax revenue target of 3,100 billion rupees had been set for the current fiscal year. He said remittances had registered an increase of 17 per cent over the last few years as they were 13.9 billion dollars in 2013 and were expected to touch the mark of 19 billion dollars this year.
The finance minister said that a new trade policy had been announced to bring improvement in exports. He vowed that circular debt would be cleared by July this year. Ishaq Dar said that the government had to bring good governance and across-the-board accountability.
He said it was because of micro-economic stability that China gave them the package of 46 billion dollars. He said Pakistan had the potential to become world leader and many other countries including Italy, Qatar and Saudi Arabia were looking towards making investments in the country. Ishaq Dar said that the government would focus on enhancing the growth rate in the remaining term. Ishaq Dar said that power projects of 25 to 26 thousand megawatt of electricity were in various stages of implementation to meet long-term requirements of the country. He said that 10,000 megawatt of electricity would be added to the national grid by March 2018.
