Pak progress being internationally recognized
Finance Minister Ishaq Dar, Friday, said that the international community and financial institutions were recognizing economic growth of Pakistan. Size of national economy has also grown along with the total tune of foreign and domestic debts. Ratio of national saving will have to be increased to achieve the GDP growth target.
Addressing the launching ceremony of the first ever registered Premium Prize Bond of 40,000 rupees, Finance Minister once again urged the political parties to avoid playing politics over national economic. In this regard, everyone reserves full right to play politics on the issues like Panama Papers’ leaks and protest sit ins but no one must drag national economy in the arena of politics,” he observed.
He said that launching of Premium Bond was a beginning of a new economic era in the country because the investors would preserve this bond for the sake of its registered status. Normal bonds had been used for negative purposes in the past. Therefore, the government is intended to launch a new premium bond worth Rs 100, 000 in new future.
He said that bond-holders of forty thousand rupees would reap rewards up to 80 Million rupees. Furthermore, bond-holders would receive profit on their investment every six months. There will no limit of investment and duration of investment in the premium prize bond.
Apart from being Zakat and Tax exempted, he said that individual as well as public and private companies, except banks could buy the premium bond. Bond prize will be directly transferred into account of the winner instead of publishing his name in newspapers.
It will be available for individuals, public and private institutions except banks, insurance companies and mutual funds. The premium prize bond can be obtained through State Bank branches in Islamabad, Lahore, Karachi, Peshawar and Quetta.
Highlighting government’s economic reforms, Finance Minister said Pakistan’s progress was being internationally acclaimed and Pakistan would be among big economies of the world by 2030 as national growth rate was 7 to 8 percent.
Expressing satisfaction over positive economic indicators, Dar said economic experts believe Pakistan will be among top twenty economies of the world by 2030. Finance minister said Pakistan will soon sign bilateral treaty with Switzerland for sharing of bank accounts data to detect tax evaders.
He said that economic landscape of the country hadchanged as compared the economic conditions of one year back, adding that Pakistan Stock Exchange (PSX) had been included in five big stock exchanges of the world. In order to encourage the tax culture in the country as well as to stop its theft, the government has taken several measures to plug the tax leakages.
Pakistan has also become the member of the Organization for Economic Co-operation and Development (OECD) and it has been included in the list of 104 member countries.