Dar briefed over progress about reforms, economic targets

Federal Minister for Finance Ishaq Dar chaired a meeting to review the implementation and progress made so far on the reforms and economic targets set by the PML-N government. Chairman, Federal Board of Revenue, Tariq Bajwa informed the Finance Minister that the number of tax returns filed this year was 814,981 as compared to 744,866 the previous year.

The Chairman further informed the Finance Minister that on December 20, 2012 the revenue collected was Rs 91.5 billion, whereas an amount of Rs 114 billion had been collected in the corresponding period this year, which showed an increase of 25 percent. He also informed the Finance Minister that the necessary Statutory Revision Orders (SROs) relating to the incentives scheme announced by Prime Minister Nawaz Sharif had been issued.

Dr Waqar Masood, Secretary Finance gave an update on the austerity measures and savings made to date. Advisor to Finance Ministry, Rana Asad Amin briefed the Finance Minister on the progress made so far on the issue of sovereign bonds, efforts being made to streamline and increase remittances and that the foreign exchange reserves were likely to improve which would have a favourable impact on the value of rupee.

The Finance Minister directed the Commerce Ministry to ensure that the recent concession of GSP plus by the European Union was utilised optimally and the exporters were facilitated and provided all necessary assistance in that regard. The Finance Minister expressed satisfaction over the pace of implementation of reforms and urged the officials to redouble their efforts to achieve the targets.-PR

Recorder Report