ISLAMABAD: Federal Finance Minister senator Ishaq Dar on Friday assured the representatives of business and trade bodies their recommendations would be considered seriously and if possible we would include them in the next financial budget 2014-15.
Chairing a meeting at Federal Board of Revenue (FBR) with the representatives of Overseas Chambers of Commerce and Industry, Pakistan Business Council, American Business Council and Pakistan German Business Council Dar said we inherited the economy in shambles and no international multilateral institution was willing to deal with Pakistan.
He said we have been extremely tight on our expenditure and in the last budget we imposed Rs 135 billion expenditure cut. He said in a short span of time our economic indicators have improved to a level where now we were able to be back in business with World Bank, Asian Development Bank and other financial institutions.
He mentioned now our foreign exchange reserves were at a satisfactory level and we would expect to take our foreign exchange reserves to $15 billion well before the target of September 30, 2014.
During the course of this meeting, Chairman FBR Tariq Bajwa briefed the Finance Minister in detail about the discussion he and other members of FBR had with the business representatives. He informed Dar the proposals presented by them would be considered in the budget.
The Finance Ministry in a press statement has said the trade representatives have welcomed documentation of the economy and the measures to encourage local manufacturing. They urged Dar to incentives taxpayers and appropriate measures should be taken on the refunds issue, which was increasing the cost of their businesses.
ISLAMABAD – Oil and Gas Regulatory Authority (OGRA) on Friday recommended the Finance ...