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KARACHI: Finance Advisor, Shaukat Tarin has said that a decision for putting
an end to the subsidy on petrol, gas and electricity has been taken.
Addressing a seminar on ‘IMF role in Pakistan economy’ under the aegis of
Institute of Business Administration (IBA), the finance advisor said that the
government was facing economic challenges. He said that the current fiscal year
revenue recoveries would amount to Rs1180 billion, but yet the recoveries have
been crucial problem for the government and this was the reason that the prices
of petroleum products were not reduced.
Shaukat Tarin said that serious notice has been taken of the FBR harassing
consumers. He said that the focus for the next year would be to revive the
economy after stabilization. He pointed out that attention would also be paid
towards the revenue generation. He explained that the tax would not be increased
and instead efforts would be made to expand the tax net. This would be carried
out administratively and also on the policy basis
Finance advisor said that Pakistan’s three national enterprise—Pakistan Steel,
Railway and PIA were cumulatively incurring losses of over Rs200 billion
annually.
He said that relief would be given to the middle class in the upcoming budget,
while the new National Financial Award (NFC) would be presented with the
consensus of the four provinces. |
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