Positive economic indicators showing signs of revival: Dar

ISLAMABAD: Federal Minister for Finance, Senator Mohammad Ishaq Dar said on Tuesday that all major indicators of economy are pointing to the fact that economy has begun to show signs of revival for moving on the right track.

This he said while meeting with a delegation of Gujranwala Chamber of Commerce accompanied by Federal Minister for Commerce, Khurram Dastagir Khan who met with Ishaq Dar here at the Finance Ministry.

The Finance Minister said “we all have to pay taxes and by paying taxes we can increase energy supply and public sector development programme”.

He said that taxes and documentation will go along and the government will employ necessary measures to facilitate exporters.

He also mentioned that it is very heartening to note that there is 17 percent increase in revenue collection.

On government’s part, he said that it has adopted austerity measures and implemented 30% current expenditure cut by all Federal Ministries.

He added that the government has also abolished discretionary fund of the Prime Minister and the Federal Ministries.

Finance Minister assured the Chamber that a permanent Commissioner Appeals will be posted in Gujranwala to facilitate the business community.

He said that the government is trying to remove impediments in the way of business community that will help increase our exports.

“We will work with the business community to achieve our export targets”, he said adding that the government is working on a plan to improve power and gas supplies.

Noman Salauddin, President, Gujranwala Chamber of Commerce, on behalf of the Chamber, congratulated the Finance Minister on attaining GSP Plus status for Pakistan that would go a long way in increasing the exports.

He said that small and medium industry of Gujranwala will also benefit from this status.

The delegation also informed the minister that during the last eight months power supply to industrial sector is much better and they are able to increase their productivity.

The delegation apprised the minister of the difficulties and problems being faced by the business community.

The President said that the business community wants to pay taxes and suggested improvements in return filing system and expeditious refund of general sales tax enabling the business community to perform at their maximum potential.

Moreover, Noman Salauddin also requested for the appointment of permanent Commissioner Appeals in Gujranwala. He also requested for relief to cottage, small and medium enterprises in the next budget.

He added that challenges remain on the horizon and much work remains to be done.

The Minister for Commerce expressed his appreciation for the business community in Gujranwala which is performing well in small and medium entrepreneurship. He said that we are grateful to the Finance Minister for looking into the genuine issues of the business community.

Secretary Finance Dr. Waqar Masood, Economic Advisor to Finance Ministry Rana Assad Amin, Additional Secretary Shahid Mahmood and Members of the Gujranwala Chamber and Commerce were also present in the meeting.