Staff Reporter Islamabad
Chairman of the National Business Group (NBG) of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Zahid Hussain on Sunday said steps of the Finance Minister Shaukat Tarin is brining refreshing change in the economic situation of the country.
He said that the pro-growth policies of the finance minister, decision to invest heavily in the agriculture sector and plan to expand tax net while shielding masses from more burden are very positive moves.
Mian Zahid Hussain said this while speaking at an Iftar dinner arranged by Deputy Convenor of Central Standing Committee on Insurance (NBG) Qazi Asif Saeed in honour of Dr. Murtaza Mughal, Group County Manager of United International Group.
He said that now the government will not compromise developmental projects to reduce the fiscal deficit while indirect taxes will not be increased providing some relief to the masses.
The government is spending 82 percent of the revenue on debt servicing therefore it has to borrow to run the affairs which can be resolved through tax reforms, the business leader said.
Mian Zahid Hussain said that government’s plan to boost spending on large infrastructure projects by as much as 40 percent to create jobs and foster productivity is a timely decision that will bring a dramatic change.
Speaking at the occasion, Dr. Murtaza Mughal said that investment is flowing towards stock, property, and commodity markets which should be diverted towards the industrial sector to boost production, exports, jobs, and investment.
Members of Central Standing Committee for Insurance Zeeshan Pasha, Adeel Asim, Zeeshan Chaudhry, Faisal Ali Khan, Fahim Hanif, Ajmal Khan, Asif Anwar, Turab Shah, Major Saad, Khalid Mughal, Altimish Malik, Saifuddin Sheikh, Naeem Qureshi, Haseeb Sultani, and Mubasshir Mir were also present on the occasion.