Pakistan Furniture Council (PFC) Chief Executive Officer Mian Kashif Ashfaq Sunday commended the step of bringing all tax evaders and non-filers into the tax net to foster economic stability and enhance country’s financial framework.
Chairing the Council’s board of Directors meeting here, he added that this move would significantly contribute in broadening tax base, ensuring a fairer distribution of tax burden among all bonafide tax payers. By targeting tax evasion and encouraging compliance, the FBR (Federal Board of Revenue) is laying the foundation for a more transparent and equitable fiscal system.
“A widened tax base will increase revenue generation, enabling the state to invest in critical sectors for infrastructure, education, and healthcare.
It will also reduce the reliance on indirect taxes, which disproportionately affect low-income groups, thus promoting social equity,” he added.
He mentioned that cut in monetary policy rate to stimulate investment is a strategic move that complements the broader economic vision. Lower interest rates make borrowing more affordable, encourage businesses to expand operations, create jobs, and drive economic growth.
Together, these measures demonstrate the government’s commitment to fostering a business-friendly environment while ensuring fiscal discipline, he added.
This dual approach not only boosts investor confidence but also strengthens public trust in governance, ultimately paving the way for sustainable economic development and shared prosperity for all, he concluded.—APP
