Govt focusing on Special Economic Zones to attract FDI through progressive taxation: Anwaar-ul-Haq Kakar

ISLAMABAD, Jan 24 (SABAH): Caretaker Prime Minister Anwaar-ul-Haq Kakar has called for introducing prudent energy policies to make Pakistan manufacturing hub for the entire region.

In an interview with “China Global Television Network”, Anwaar-ul-Haq Kakar said economic revival and transfer of technology are major factors, which are impacting all kind of economic activities around the globe.

The Prime Minister emphasized the need to focus on spending less and earning more. He said good taxation system and structural reforms should be on top of the domestic economic agenda of revivalism.

Talking about the Belt and Road Initiative of China, Anwaar-ul-Haq Kakar said it is offering the best opportunities like relocation of industry to all the regional countries including Pakistan. He said it will encourage industrialization in the country. He said the government is focusing on Special Economic Zones to attract Foreign Direct Investment through progressive taxation.

Meanwhile Anwaar-ul-Haq Kakar has directed the Ministry of Energy to present an effective, sustainable and workable strategy for termination of circular debt. Chairing a meeting in Islamabad on Wednesday, he said all stakeholders have to work together.

Anwaar-ul-Haq Kakar said the government is taking all possible steps to reduce the circular debt and restore the economy on priority basis.

He said the anti-power theft operation has significantly improved the recoveries of the power distribution companies.

The meeting was given a detailed briefing on the current situation of circular debt in the petroleum and energy sectors.

During the meeting, various suggestions were also presented to reduce the circular loans of different companies.