All out efforts being made to address governance, circular debt issues: Miftah

Pakistan trade deficit

Islamabad: Federal Minister for Finance and Revenue, Miftah Ismail, Friday said that the government was making all-out efforts to address governance and circular debt issues.

Talking to a private television channel, Miftah Ismail said that furnace oil was expensive for producing energy, while LNG has become rare in the market.

He said that the government would facilitate the farmer community by shifting tube wells onto solar energy. Replying to a question regarding taxes imposed on poor people, the federal minister said that more taxes were imposed on the elite class while the government reduced taxes on poor people.

He said that there was a dire need to bring improvement in the system to speed up progress. About high petroleum prices, Miftah Ismail said that tough decisions had to be taken to steer the country out of the current economic crisis. The minister said that the government reduced the petroleum prices and transferred the relief to the masses.

Read: Pakistan, IMF reach agreement

Commenting on the role of the opposition, he said that it was the responsibility of the opposition to support the government in all decisions taken in the public interest.

To a question about revenue generation, he added they were planning to generate 30 to 40 billion rupees from the trade sector. He said that a fixed tax would also be imposed on shopkeepers.

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