Govt target is improvement of economy of the country irrespective of IMF: Finance Minister Muhammad Aurangzeb

ISLAMABAD, March 13 (SABAH): Federal Minister for Finance and Revenue Muhammad Aurangzeb has said that their target is improvement of economy of the country irrespective of International Monetary Fund (IMF).

While talking to media persons in Islamabad, Muhammad Aurangzeb said that government’s utmost priority is bringing transparency in tax system, adding they want there should be 10 percent of taxes in the national income. He said that they want a long term program from IMF, adding Pakistan will try to take big program than that of its quota. He said the country will take a longest term program from IMF, adding continuity in IMF program will maintain economy discipline.

He said that their target is improvement of economy of the country irrespective of IMF, adding Prime Minister Shehbaz Sharif has a clear vision regarding improvement of economy of the country. He said the Prime Minister has strictly ordered to maintain economy discipline. He said there is no obstacle in taking last installment from IMF. He said they are making preparations for taking new loans from IMF.

He said that economic stability is the joint target of IMF and the government of Pakistan. He noted the interim government efficiently worked for the improvement of  the economy of the country, particularly Fawad Hasan Fawad took interest and did hard work in this regard.    Muhammad Aurangzeb said that they want to collect tax income with digital way.

Meanwhile, Muhammad Aurangzeb visited the Federal Board of Revenue (FBR) Headquarters and presided over a meeting to review revenue collection performance of FBR. The Chairman FBR Malik Amjed Zubair Tiwana and Members of the Board attended the meeting.

Chairman FBR extended a warm welcome to the Minister on behalf of the FBR team. He gave a detailed presentation on the revenue collection efforts and various revenue generation initiatives taken by FBR as well as issues currently being faced in revenue administration.

The minister was briefed that FBR has successfully achieved the cumulative revenue collection target for the first eight months of the current financial year and is committed to achieve the overall target as well. The Finance Minister appreciated the FBR team for their efforts in meeting the targets.

He called for expediting the reform process and digitisation of FBR for better performance and enhanced revenue generation. The Minister also directed to evolve a mechanism to ensure transparency in tax collection system. He assured the FBR team of his complete support in the performance of their duties and directed to increase their efforts to achieve the true tax potential.