Federal Finance Minister Muhammad Aurangzeb said that the industry is in trouble due to difficult decisions, but he will look at the recommendations of businessmen regarding the budget. To catch up with the IMF, exports will have to lead, foreign direct investment will have to be brought in.
Addressing the business community at the FPCCI office in Lahore, Mohammad Aurangzeb said that the budget needs to be looked at in a broad perspective, along with the traders, the concerns of the industrialists must be looked into. IT has to be promoted and small madam business should be promoted in this country. How to drive the industry forward, you will see improvement in this financial year.
After petrol pump owners, flour mills also announced to stop supply
He said that tax will be applied on small traders, this has not happened before, that’s why you all are objecting, tax authorities have all the data of non-filers, FBR will have to fix it. The tax to GDP ratio has to be taken to 13% in the next two to three years, taxes have to be imposed because clapping is done with both hands, if there is enforcement, additional taxes will be collected.
Heavy taxes, electricity rates shut down a large textile factory in Karachi
He said that additional ministries should be closed, don’t give speed money to anyone, don’t contact any FBR and the reforms that we are doing should be simplified, we will improve by reforms. While pensions are a huge burden, cost reduction will come from closing inefficient departments. Not taking the salaries of the federal cabinet did not make a big difference to the exchequer.
The Finance Minister said that the Civil Bureaucracy is one year ahead in respect of the pensions of the armed forces following July 1 as their service structure is different. Bureaucracy and rulers should not be disrespected.
The government once more dropped electricity on the people, increased the rates per unit
He said that looking at the IPPs, it must be worked on. Little work was done on IPP in Imran Khan’s government, we also want this problem to be solved.
Mohammad Aurangzeb said that we have to fix the institution of FBR, the work on FBR end-to-end digitization is going on fast, till the industrialists stop entertaining FBR they will keep coming.
The finance minister said that the policy rate will be reduced this year, the policy rate is the work of the State Bank, I am cautious regarding it, but I think there is room for a reduction in the policy rate, of course it should be reduced. .
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2024-07-07 16:14:42
