Federal Minister for Finance, Revenue and Economic Affairs, Asad Umar said that the government is firm on its commitment to address the key structural issues of Pakistan’s economy.
He was talking to a delegation of Overseas Investors Chamber of Commerce and Industry led by its President Irfan Wahab Khan in Islamabad on Tuesday. The delegation greeted the Finance Minister on taking charge of his new responsibilities.
The Minister welcomed the delegation and acknowledged the importance of the corporate sector in the development of Pakistan.
The Finance Minister appreciated the efforts of the OICCI in assisting the government in the matters of policy formulation that could help attract further investment.
The Minister said that the government is holding consultation for setting up the Business Advisory Council to establish a liaison between government and business community to make Pakistan the regional hub for investors. The Minister said that it is his vision to introduce latest technology in tax system to reduce hassle and bring in more transparency to the system.
Asad Umar also said that the government wants to address the issues of twin deficits on a long term basis and he believes that the key to the problem lies in promoting manufacturing industry and creating jobs for the youth of the country and this is the area where Overseas Chamber could assist and lead the way.
He said that the Government would soon introduce necessary changes in the Finance Act 2018 to make it more relevant to the current economic state of the country and reflective of the progressive vision of the new Government. The Minister also assured the delegation of his all possible support in improving business environment in the country.
President OICCI apprised the Minister that OICCI wanted to share their vision of future development of the country and how the overseas investors could become the drivers of change in the journey. The delegation shared its ideas and proposals to build the investors’ confidence both local and foreign for bringing in more investment to Pakistan.