Ba­jwa urges govt to ex­pand tax base in or­der to break ‘beg­ging bowl’

The Miracle - - Pakistan - Source:

Chief of Army Staff (COAS) Gen Qa­mar Javed Ba­jwa said Pak­istan needs to ex­pand its tax base, bring in fi­nan­cial dis­ci­pline and en­sure con­ti­nu­ity of eco­nomic poli­cies to be able to break the beg­ging bowl, mil­i­tary’s me­dia wing re­ported. “The econ­omy is show­ing mixed in­di­ca­tors. Growth has picked up but the debts are sky high. In­fra- struc­ture and en­ergy have im­proved con­sid­er­ably but the cur­rent ac­count bal­ance is not in our favour,” the army chief re­port­edly said while ad­dress­ing a sem­i­nar on the in­ter­play of econ­omy and se­cu­rity on Wed­nes­day. “Our tax to GDP ra­tio is abysmally low and this needs to change if we are to break the beg­ging bowl,” read the text of Ba­jwa’s speech shared by In­ter-Ser­vices Pub­lic Re­la­tions.He also shared that econ­omy re­mains a ma­jor con­cern dur­ing Na­tional Se­cu­rity Coun­cil meet­ings, also re­veal­ing that he reads the busi­ness and econ­omy page of the news­pa­per right af­ter the main page be­cause of its im­por­tance. ”Pak­istan is ca­pa­ble of cre­at­ing suf­fi­cient fis­cal space to ad­dress un­der­ly­ing struc­tural problems through tax re­forms, doc­u­ment­ing econ­omy, di­ver­si­fy­ing the ex­port base, and en­cour­ag­ing sav­ings to fi­nance a level of in­vest­ment that could sus­tain growth rate higher than the rise of pop­u­la­tion,” but the ben­e­fits should also reach all parts of Pak­istan in­clud­ing in­te­rior Sindh, Fata, Balochis­tan and South­ern Pun­jab, he said.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.