Decision on going to IMF in October: Asad

The Federal Board of Revenue will launch a campaign against tax evaders to bring more people under the tax net

Asad Umar, Finance Minister

ISLAMABAD — Finance Minister Asad Umar has said the government had not decided as yet if it should go for any programme of the International Monetary Fund (IMF), and a decision to that effect would be taken in October.

Talking to a private TV channel, the finance minister said all options, including approaching the IMF, were open. He added that he never said that the government would not go to the IMF.

Umar said that the Federal Board of Revenue (FBR) would launch a campaign against tax evaders and take strict action against them. He said the campaign was aimed to bring more people under tax net to broaden the tax base and enhance revenue collection.

The minister said that currently only 700,000 people in the country were paying tax, adding that the tax base would be broadened to minimise the burden on people who were already paying their taxes.

Umar said the increasing trend in petroleum prices was not good for the national economy. However, in order to provide maximum relief to the common man the ratio of withholding tax on petroleum products would be reduced.

The minister said the government was taking measures to strengthen the national economy which was passing through a critical stage and facing multiple challenges. Due to mismanagement and ill planning of the previous Pakistan Muslim League-N government the country’s economy suffered badly.

Umar said when the PTI government assumed power the country’s economy was in worst condition. However, he said the people would now see an immense improvement in economic conditions during the PTI government’s tenure. —