SAPM Finance Advisor Shokat Tareen is talking about on going major developments.
No doubt, it is an admitted fact that same like other nations of the glob, Pakistan is also going through its bad economic and political history. Inflation has reached its culmination and it has become impossible for the general public to make their both end to meet. Now, the government has taken some bold initiatives to provide more relief to people and showed ray of hope in days to come.
Finance Advisor said that public need not worry, the rise in prices of petroleum products and commodities has led to inflation. Will reduce import bill, we are trying to make development more sustainable for all, for sustainable development we have to increase savings, nothing has been done in last 30 years to increase exports, we have decided to increase agricultural and industrial production We will give interest free loans to the poor, Pakistan has become a trading economy from industrial economy, we are trying to bring tax to GDP to 20%, we are correcting FBR while also correcting power sector. In the power sector, which is suffering from the wrong and costly agreements of the previous governments, this year we will pay Rs. 850 billion in capacity payment companies. He was addressing the annual conference of KSDPI. He said that at present we are out of Covid-19, we are trying to make development more sustainable for all, our savings rate is very low, for sustainable development we have to increase savings, nothing has been done in last 30 years to increase exports. We have decided to reduce the gap between imports and exports, increase productivity in the economy, increase your agricultural and industrial production, we are trying to increase the tax to GDP to 20%, the next financial year. We will take tax to GDP to 20% this year, we are correcting FBR, we will increase tax collection with the help of technology, we will also use technology in customs, we will increase agricultural production, wheat pulses. Sugar and edible oil are being imported from abroad, 80% of the farmer's income is consumed, 62% of the population lives in rural areas, we have become a trading economy from an industrial economy, people have started getting housing loans. We will fix the power sector, we will pay Rs. 850 billion in capacity payment this year, which means we will also pay the price of electricity which He said that this was due to the previous government's agreement to increase power generation.
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