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05-22-2016, 05:01 AM
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Political unrest must **t affect eco**mic stability: Dar
ISLAMABAD: Finance Minister Muhammad Ishaq Dar on Saturday called for ensuring that eco**mic gains were **t affected due to any Political unrest in the country.
“During the last three years, the Pakistan Muslim League-Nawaz (PML-N) government has been able to stabilise the dwindling eco**mic conditions as has been endorsed by 22 major international rating agencies,’’ Dar said while addressing a pre-budget seminar organised by a private media group here. The finance minister asked the opposition to sit with the government and evolve a ‘charter of eco**my’ for more robust eco**mic growth. He said for sustainable eco**mic development, the government had made deep-rooted structural reforms in various sectors, including tax, energy, agriculture and public ******s. Ishaq Dar assured that in the budget for next year, ** new tax burden would be put on the common man and those already paying their taxes. He, however, opined that the government would especiallytarget the **n-tax filers for bringing them into the tax net. He said despite immense pressure from the business community, the government did **t step back from its decision of imposing withholding tax on the banking transactions by **n-tax filers. This step, he said, had **t only helped increase number of tax payers but also collect Rs20 billion more tax during the current fiscal year. Regarding pay raise of the government employees, the minister said a three-member committee had been formed to finalise proposals in that regard. The minister said the budget deficit was expected to remain 4.3 per cent during the current fiscal year which had witnessed a significant decrease from 8.8 per cent three years ago. The deficit would be further decreased to 3.6 per cent during the next fiscal year, he added. He said the government had took numerous austerity measures, including withdrawing of discretionary funds worth billion of rupees of the Prime Minister ****** and other ministries. It had also abolished secret funds of 32 public departments, he added. Dar said that the GDP (Grand Domestic Product) growth rate would remain 4.71 per cent by the end of current fiscal year. "This growth rate would have been even higher to about 5.2 per cent if cotton crop had **t been badly affected in the country," he added. The minister said total domestic debt as of December 2015 was Rs18,467 billion against Rs14,500 billion three years ago and Rs6,000 billion in 2008. He said the government was committed to bring down the public debt to GDP ratio to 60 per cent by 2018 from 63.5 per cent at present. He said the total external debt as of February 29, 2016 was recorded at $53.9 billion which was $48.1 billion in 2013. He said total foreign exchange reserves in the country during the current year were recorded at $21.1 billion which were the highest in the country's history. Earlier, Dr Ashfaq Hassan, an eco**mic expert, called for evolving such eco**mic policies which should create new jobs. Asad Umar, Member of National Assembly, said the parliamentarians were role model for the public so they must ensure that they pay all their due taxes in the larger interest of the country. He proposed that the Federal Board of Revenue (FBR) should be given full auto**my so that it could independently work to boost revenue collection. He also urged the government to take special measures to increase Foreign Direct Investment which would **t only help increase the growth rate but would also help create new jobs in the country. أكثر... ??????? ??????: Political unrest must **t affect eco**mic stability: Dar || ??????: ahlam1399 || ??????: اسم منتداك
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