We have complete strategy how to expand our economy: Shaukat Tarin

KARACHI, Nov 14 (SABAH): Advisor to the Prime Minister on Finance and Revenue Shaukat Fayaz Ahmed Tarin says the government is working on a long-term strategy to strengthen national economy on sustainable basis. Shaukat Tarin said we have complete strategy how to expand our economy, adding that we will take tax to GDP ratio to 20 percent in next six to seven years. He said that during the current financial year 36 percent more revenue has been collected as compared to last year, adding that our tax income has been increased by 32 percent. Shaukat Tarin said that we could take country’s IT exports to $50 billion in next four to five years and this field will help us to overcome the difference of imports and exports. He said that a lot of prosperity has been witnessed in the agriculture sector, adding that it looks our economy will grow with the pace of 5% during the current financial year. He said that the government is standing with the common man and we are committed to provide more facilities to him with the passage of time.

Speaking at a ceremony in Karachi on Sunday, Shaukat Tarin said that when Pakistan Tehreek-e-Insaf came into power three years ago the country was facing many crises, adding that Pakistan was facing current account deficit and we were short of dollars.

He said Prime Minister Imran Khan took balanced decisions to protect livelihood of people and economy during COVID-19. He said that the whole world appreciated the strategy adopted by PM Imran Khan for dealing with the coronavirus pandemic. Shaukat Tarin said that we need 1.5 to 2 million jobs annually as our 60 percent population is less then 30 years of age. Shaukat Tarin said we want inclusive progress for everyone and we did not need progress only for four or five years but need progress for 20 or 30 years.

The Advisor said the government fully focused on construction, agriculture and industry to ensure growth in all sectors.

He said significant growth in agriculture produce has been witnessed during the last year and we are trying to increase our revenue from nine to eleven per cent.

Shaukat Tarin said Information Technology sector exports increased by 47 per cent during the last year and other sectors are also showing growth.

He said promotion of construction sector has generated job opportunities.

The Advisor on Finance said all matters with IMF will be settled soon. Shaukat Tarin said that he could not announce the IMF program and it will be done by IMF itself, adding that the uncertain situation will end after the announcement of the IMF program. He said artificial increase in price of dollar is being checked and stern action will be taken against hoarders and smugglers of currency.Shakuat Tarin said that we have decided to support 4 million families, adding that we will give interest free loans to farmers, interest free loans to people living in cities for starting business, interest free loans will be given for construction of houses, health cards will be given to them and their skill will also be developed. He said that this package is or Rs. 1.4 trillion and will be applicable for three to four years. He said that the government is making efforts for provision of the facilities to the common man.