We have recently launched operations to check smuggling of foreign currency & other commodities: Ishaq Dar

ISLAMABAD, Dec 14, (SABAH): Minister for Finance and Revenue Senator Mohammad Ishaq Dar has said the government is making efforts to revive the economy.

Speaking at the second Pakistan Prosperity Forum in Islamabad on Wednesday, Ishaq Dar said we have recently launched operations to check smuggling of foreign currency and other commodities.

The Finance Minister said during the last twenty-four hours our customs department arrested a person in Chaman border who was trying to smuggle one hundred thousand dollars across the border.

Strongly criticizing the policies of previous government, the Finance Minister said there was an unbearable increase in the country’s debt during its tenure.

Ishaq Dar underlined the need to enhance the tax base of the country, saying economy needs to be detached from politics. “Many countries in the world enhanced the ratio of taxes after the Covid pandemic so we also have no other option except to enhance tax-to-GDP ratio,” he said.

Backing the track and trace system of the Federal Board of Revenue, Ishaq Dar said some reporting issues had developed regarding some industrial sectors. He said the country’s economic management failed to deliver in the last four years, adding Pakistan’s loans increased from Rs30 trillion to Rs54 trillion.

Ishaq Dar said debt-to-GDP ratio of several countries was much more than Pakistan s, adding that he had been advocating for a Charter of Economy for a long time. He said if some countries including Bangladesh were interfering in the currency market, Pakistan was no exception and there was nothing wrong about it.