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ISLAMABAD, (MANEND NEWS): Minister for Finance and Revenue,
Shaukat Fayyaz Ahmed Tarin has said agriculture, industries, IT and
Service sectors will be incentivized in the next budget to enhance their
productivity.
Addressing a budget webinar in Islamabad on Sunday, Shaukat Tarin
said the government has a progressive plan for the development of
agriculture sector. Enhancing its productivity will also help check the
prices of food items.
The Finance Minister said the tax rates will not be increased. He said
we have figured out a plan to enhance our revenues.
He expressed the confidence that the tax collection will reach 5.8
trillion rupees next year. He said technology will be used to achieve
the target without any coercion.
Shaukat Tarin said power sector will be stabilized and innovative ways
will be used to reduce the ballooning circular debt. He said Prime
Minister Imran Khan has given the commitment that there will be no
increase in electricity tariff in the near future.
The Finance Minister reaffirmed the government’s commitment to put
the country on the path of inclusive and sustainable growth.
He said the Economic Advisory Council comprising of eminent
economists has been tasked the responsibility to prepare short,
medium and long term plans for various sectors including agriculture,
manufacturing, power, housing etc.
On the development side, Shaukat Tarin said the PSDP allocation will
be increased to nine hundred billion rupees in the next financial year
from the current year’s 650 billion rupees. He said private sector will
also be included in the development process. He said that during the
first 11 months of the financial year 2020-21 over Rs 4,143 billion has
been collected in form of tax, which is a record in the country.
Meanwhile Shaukat Tarin says the government has no intention to
impose any new tax in the upcoming budget, but it would broaden tax
base with use of technology to reach unreachable areas and increase
revenue.
Talking to a private news channel, he said the government would
enhance growth rate in next fiscal year and going to introduce
innovation in resource mobilization.
Shaukat Tarin said the incumbent government would not burden the
tax payers and tariff would not be further increased.
He said Prime Minister Imran Khan has great sympathies for poor
people and he does not want to put burden on them.
Replying to a question, Shaukat Tarin said the government would
focus on increase of exports in the next fiscal year and incentives
would be given to productive sectors including textile, agriculture,
Information Technology and manufacturing.
