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Increase in tax net to help reduce tax rate: Punjab Finance Minister

Lahore, May 20, 2016 (PPI-OT):The expansion of the tax net is our top priority, stated by the Finance Minister of the Punjab, Dr. Aisha Ghaus Pasha. She was speaking at a meeting of the Pakistan Business Council here on Friday. The meeting was held in connection with framing budget proposal for the fiscal 2016-17. Dr. Aisha said that increase in tax net can contribute towards lowering the tax rate. She was of the view that people cannot be satisfied with the mere slogans and that practical work would have to be carried out for the public welfare projects.

Dr. Aisha opined that if tax net is increased it would be easier to decrease the tax rate. She also pointed out that steps are being taken for enhancing the tax net. Tax management system is being made easier and effective on priority basis. The Minister said that funds for development projects for the welfare of the people are generated from the tax money. She also apprised the meeting of the planning for various on-going development projects in the Punjab and about those that are in planning phase.

Dr. Aisha said that the Punjab Government is coming up with concrete measures for promotion of trade and industry and attention is also being paid towards resolution of problems of the business community so that economy be strengthen and job opportunities created. She announced that the budget proposals from the traders would be placed before the technical committee.

The Minister further stated that the government is also encouraging the local investors so that they could also come up with investment in energy and other projects. She also described the meeting with the Pakistan Business Council as very useful. Dr. Aisha said that cooperation of business community is essential for increasing tax net and more reforms.

She said that proposal for the betterment of the economy would be welcomed. The meeting was attended by the chairman of the Pakistan Business Council, Atif Bajwa, CEO Ahsen Malik and chairman of Punjab Revenue Authority, Dr. Raheel Ahmed Siddiqui.

For more information, contact:
Rafiullah Usman
Directorate General Public Relations
Government of the Punjab
Tel: +92-42-9201390-86
Website: www.punjab.gov.pk

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