putting an end to the subsidy on petrol, gas and electricity has been
taken.
Addressing a seminar on 'IMF role in Pakistan economy' under the aegis
of Institute of Business Administration (IBA), the finance advisor
said that the government was facing economic challenges. He said that
the current fiscal year revenue recoveries would amount to Rs1180
billion, but yet the recoveries have been crucial problem for the
government and this was the reason that the prices of petroleum
products were not reduced.
Shaukat Tarin said that serious notice has been taken of the FBR
harassing consumers. He said that the focus for the next year would be
to revive the economy after stabilization. He pointed out that
attention would also be paid towards the revenue generation. He
explained that the tax would not be increased and instead efforts
would be made to expand the tax net. This would be carried out
administratively and also on the policy basis
Finance advisor said that Pakistan's three national
enterprise—Pakistan Steel, Railway and PIA were cumulatively incurring
losses of over Rs200 billion annually.
He said that relief would be given to the middle class in the upcoming
budget, while the new National Financial Award (NFC) would be
presented with the consensus of the four provinces.
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