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Tax collection shows 25pc increase in December: Dar

21 December, 2013

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ISLAMABAD: Finance Minister Muhammad Ishaq Dar on Friday expressed satisfaction over 25 percent increase in tax collection so far in December.

He was chairing a meeting at his office to review the implementation and progress made so far on the reforms and economic targets set by the PML-N Government. He also expresses satisfaction over the pace of implementation of reforms and urged the officials to redouble their efforts to achieve the targets.

The finance minister directed the commerce ministry to ensure that the recent concession of GSP Plus by the European Union is utilized optimally and the exporters are facilitated and provided all necessary assistance in this regard.

Chairman Federal Board of Revenue, Tariq Bajwa informed the finance minister that the number of tax returns filed this year were 814,981 as compared to 744,866 last year. Bajwa said that on December 20, 2012 the revenue collected was Rs 91.5 billion, whereas an amount of Rs 114 billion has been collected in the corresponding period this year, which shows 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 have been issued. Secretary Finance, Dr Waqar Masood gave an update on the austerity measures and savings made to date.

Adviser to Finance Ministry, Rana Asad Amin briefed the Finance Minister on the progress made so far on the issue of sovereign bonds and said efforts were being made to streamline and increase remittances. The foreign exchange reserves are likely to improve which will have a favourable impact on the value of rupee, he added.

Dar has also urged ministries of foreign affairs and commerce to inform foreign investors about opportunities available in Pakistan as the government rolls its programme of disinvesting public sector entities. He was chairing a meeting here on Friday to explore new initiatives to attract investment in the country.

Dar urged the need to focus in the areas of energy, engineering and technology so that not only the issue of unemployment in the country is addressed, but a foundation can also be laid for a sustainable growth in the country. He expressed the need to work out a comprehensive strategy to attract foreign investors in view of the economic measures taken by the PML (N) Government to improve the macro-economic imbalances.

The meeting was attended by Khurram Dastagir, Minister of State for Commerce, Zubair Umar, chairman Privatisation Commission, Tariq Fatimi, Special Assistant to Prime Minister and senior officials of the Finance Ministry.

End.

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