Islamabad, May 25, 2014 (PPI-OT): Mr. Zakaria Usman, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) called on the Finance Minister Senator Ishaq Dar at the Finance Ministry, today, to discuss issues related to the budget for fiscal year 2014-15.
The Finance Minister said that the economy has performed much better as compared to the corresponding period of the last fiscal year. He said that the revenue collection has been Rs. 1745 bn in July- Apr 2013-14 as compared to Rs 1509 in corresponding period of last fiscal year, registering an increase of 15.6 %.
Similarly budget deficit has decreased to 4.0 % as compared to 5.5 % in the same period. Trade deficit has been down by 2.5 % and GDP growth rate is 4.1% as compared to 3.4% in first half of the financial year, he added.
He said that it is due to better economic performance that the international financial institutions including World Bank and Asian Development Bank are back in business with Pakistan after lapse of 5-7 years. The President FPCCI appreciated steps taken by the government in order to put the economy back on track and stressed that the business community is with the government in reforming the system.
He informed the Finance Minister that he and his delegation had a very useful meetings with the FBR officials and proposals have been forwarded to the concerned officials for consideration in the next budget. He assured the Finance Minister that the business community will continue to work with the government for betterment and prosperity of the people of Pakistan.
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