Published Date: Jan 26, 2019
Gov’t to announce medium-term economic framework next week
Minister of State for Revenue, Hammad Azhar Friday termed the economic reform package as neutral budget in term of fiscal and monetary measures but to revive and facilitate the investments and growth.
He said Pakistan Tahreek-a-Insaf (PTI) government would announce a medium-term economic framework in next week, whereas further supply-side measures would be taken to boost exports and investments.
Moreover, the government was moving towards direct taxation regime while gradually curtailing the indirect taxation, he added. He said this while speaking at the public seminar titled “Economic Reforms: Way forward”, organized by Sustainable Development Policy Institute (SDPI), here.
Hammad Azhar said, “our economy is consumption based economy, where in the last ten years, our fiscal and monitory policies failed to revive growth and facilitate investments in the country”.
He said PTI government has taken tough measures which now resulted in the stabilization of the economy. The sole aim of this economic reform package was to boost the supply side of the economy and to enhance production and exports to its true potential, he added.
Moreover, he said the incumbent government has proposed in this Economic Reform Package a simplified and friendly tax regime to ensure ease in doing businesses. While responding to a question, he said the government neither planning nor in favor of any amnesty tax regime so far.
Chairman, Board of Investment (BoI) Haroon Sharif said all foreign state visits of Prime Minister were fundamentally to reach out investors and investments to get economy out of the crisis.