ISLAMABAD: Finance Minister Senator Ishaq Dar on Tuesday reiterated the tax net would be expanded by encouraging all those people who were not paying their taxes while serious efforts would be made for documentation of the economy.
Presiding over a meeting with the officials of Federal Board of Revenue (FBR) to review budget proposals he appreciated the hard work and commitment of the FBR and Finance Ministry officials in consulting the stakeholders and finalising the budget proposals for consideration.
He observed during the current financial year the government had to do a lot of fire fighting to save the economy from further deterioration and make a new beginning.
He thanked Almighty Allah for giving courage and commitment to the government for not only facing all those challenges but also for making progress toward changing the direction of the economy to growth and development.
The new budget will set the direction of our economy and it will be a component of mid term macro-economic strategy. He observed the proposals would bring in positive results for the nation in the long run. He said we would work together to expand the tax net and all those people who were not paying their taxes would be encouraged to do their duty towards the country.
Taxpayers will be rewarded and serious efforts will be made for documentation of the economy, he added.
Youth is our future capital and the Prime Minister’s schemes are aimed at harvesting this great potential of the nation. He said we have to find fiscal space to invest in our future capital. He concluded all our efforts and policies should aim at ensuring growth and reduction in poverty.
During the course of meeting, Chairman FBR Tariq Bajwa briefed the meeting on proposals to be incorporated in the upcoming Federal Budget 2014-15. He informed, as per his directions recommendations of all stakeholders including chambers, industry representatives, traders and professional bodies have been considered and the doable proposals have been incorporated in the set of proposals.
KARACHI: The first day of the week turned out to be a nightmare for local equity market, as the ...