Peshawar: Federal Minister for Finance Muhammad Aurangzeb said that the tax policy office, under the government economic reform agenda, will be operationalized in a few days to facilitate taxpayers. Muhammad Aurangzeb called upon the private sector to play a lead role in economic stability and progress in the country, adding that the government would facilitate business and industrialization to generate employment opportunities for youth and alleviate poverty in KP.
He said the government is proactively taking measures for sustainable and inclusive economic growth imperative for progress and prosperity of the entire nation. He said the process of consultation is continuing with the business community before the formation of the federal fiscal budget for next year, aiming to provide maximum relief to traders and people. State Minister for Finance Ali Pervaiz Malik said proactive policies and initiatives, the incumbent coalition government saved the country for default. Pervaiz Malik said the government will maintain balance between expenditures and revenue while keeping in view the IMF framework. They were speaking to members during a visit to the Sarhad Chamber of Commerce and Industry here on Wednesday.
The meeting was chaired by the SCCI president Fazal Moqeem Khan. Fazal Moqeem Khan in his opening remarks stated that the business community of Khyber Pakhtunkhwa has suffered owing to prolonged war against terrorism. He said business, trade and export have slowed down amid imposition of unfriendly policies and initiatives. SCCI chief said the additional taxation measures have compounded the miseries of the business community which should be reviewed in the best of the economy. He said KP, which is the land of opportunities, wherein diverse opportunities in multiple sectors available for local as well as foreign investors. He raised the concerns over closure of Torkham border that hampered bilateral trade, and urged the government to take measures for reopening of the border and carry out smooth trade. Businessmen want to pay taxes but additional taxes are unacceptable, Moqeem said. He asked steps for simplifying the existing tax system.
The chamber senior vice president Abdul Jalil Jan, vice president Shehryar Khan, former president and leading businessman Senator Mohsin Aziz, former presidents Fuad Ishaq, Faiz Muhammad Faizi, Riaz Arshad, Adeel Rauf, Haji Muhamamd Afzal, Haji Muhammad Asif, Zahidullah Shinwari, Engr Maqsood Anwar Pervaiz, Zulfiqar Ali Khan, Afan Aziz, members of the executive committee Saifullah Khan, Abbas Fuad Azeem, Zaheer Sajjad, Aftab Iqbal, Ashfaq Ahmad, Mujeebur Rehman, Adnan Nasir, Ziaul Haq Sarhadi, Saddam Hussain, IAP president Ayub Zakori, former IAP president Zarak Khan, former SVPs Sanaullah Khan, Shahid Hussain, and Ihsanullah, Member IR Policy, FBR Najeeb Ahmad Memon, Director to Finance Minister Sheharyar Ahmad, Special Assistant to MoS Mustafa Dogar, Member Customs Policy, FBR Wajid Ali, Special Assistant to Finance Minister Muhammad Asif, Secretary General Muqtasid Ahsan, traders, industrialists and exporters, importers were present during the meeting.
The Finance Minister said the country has achieved economic stability after the Federal Govt's goal oriented policies and economic reforms that started positive effects on people's lives. He said that the Govt was committed to broadening its tax base and advancing with a focused approach to make Pakistan an export-led country. The State Minister acknowledged that the Khyber Pakhtunkhwa business community and people had rendered sacrifice for the last one decade and the government is fully realizing the hardships. Minister of State for Finance and Revenue, Ali Pervaiz Malik said that 'we all are Pakistanis and it was our collective duty to work for progress and prosperity of the country. He said the government was endeavoring to create balance between income generation and expenditure and the government's economic and fiscal policies besides reforms has immensely helped in achieving economic stability despite enormous challenges.
He said the government has ensured financial discipline and addressed issues related to tax refund. He said that the Govt was striving hard to provide relief to poor consumers of electricity. Before Shahbaz Sharif Govt took over, he said the country was facing an imminent economic collapse and prices of daily commodities were soaring high. However, the Shahbaz Sharif Govt accepted the massive economic recovery's challenge and put the economy back on track.