Finance Minister Ishaq Dar said on Friday that the next year’s growth target of 3.5% will be achieved easily.
Speaking in the National Assembly’s standing committee on finance, Dar said that the country had to be pulled out from the 0% growth rate even if it was not election year.
He also reiterated that the delay in the International Monetary Fund’s ninth review had been ‘unusual’. He also said that the delay in the review had also led to a delay in the development of the next year’s economic strategy.
Dar said that the FBR’s tax target of Rs9200 billion for the next year had been set on a ‘scientific basis’. He added that the target should not be described as impractical.
He also said that tax measures in a budget were set on the basis of inflation and expected growth rate. Dar said that measures to get Rs223 billion in new taxes had been introduced in the latest budget.
Dar also added that special attention had been paid towars women, youth, IT sector and small to medium enterprises in the budget.
He also said that the government had aimed at bringing 700,000 million new people into the tax net, but 900,000 people had been successfully resigstered.
A delegation of traders also told the committee that 11,000 containers were stuck on ports awaiting clearance. Dar instructed officials to provide him with a report on the matter immediately.