PAK BUDGET: WHAT WE WANT
OVERSEAS PAKISTANIS PIN HOPES ON FINANCIAL PLAN TO RESOLVE ECONOMIC WOES
dubai — Pakistan Finance Minister Asad Umar is expected to introduce an economic reform package in his second mini-budget speech this week to put the economy back on track after securing over $14 billion in financial assistance from the UAE, Saudi Arabia and China.
Umar will unveil tax reforms, incentives to the stock market and announce new initiatives to ensure the ease of doing business in Pakistan. He is also expected to launch Pakistani diaspora bonds to raise $3 billion of funds through overseas Pakistanis to meet part of the country’s financing needs of up to $27 billion in financial year 2018-19.
“The government is expected to rationalise some taxes for taxpayers, bring down income tax limits and increase import tariff on luxury items to bring down the current account deficit to $12 billion by June,” sources told Khaleej Times on Sunday.
Elaborating, they said the government will highlight investment opportunities and take steps to ensure the ease of doing business in the country. It may roll back income tax relief given to the salaried class by the previous government by reducing limits to
The govt... has to assure no devaluation for 2-3 years to build confidence among local entrepreneurs Muhammad Iqbal Dawood,
President of Pakistan Business Council (Dubai)
Tax reforms will be part of broader economic reforms to be announced by the finance minister
Muzzammil Aslam, Former CEO of EFG-Hermes Pakistan