LAHORE (APP) - Federal Finance Minister Senator Muhammad Aurangzeb said on Saturday that digitalization of the economy will bring transparency, and after stabilization, industrialization is necessary to achieve economic growth.
Addressing the ‘Pakistan Economic Growth Conference’ here at Regional office of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI), he added that relief is going to be given to the construction sector.
The finance minister said, the country’s economy is moving in the right direction and the private sector would have to lead, assuring that government would utilize all resources to provide all possible facilities to the business community.
The government is following an export-led policy and relief for the construction sector would soon be announced, he said and added that he would soon do something for the textile sector, besides considering reduction in tax rates in the property sector.
The federal minister said that work is being done in the construction sector, the tax net is being widened, and ‘we see the real estate sector separately and the construction sector separately. Other sectors are linked to the construction sector, wherever you have problems, we will solve the problems.’
The government would consider reducing the rates of several taxes in the property sector, ‘we have to look at our finances along with the issues of different sectors.’
He asserted that government firmly believed in the effective role of private sector, as Prime Minister Shehbaz Sharif also says, that the private sector would have to come forward and the government would provide all resources and facilities according to its capacity.
He said that the business community must criticize the government because constructive criticism is taken positively, asserting that while identifying the problems, they should also suggest their possible solutions. He said, Super Tax has been reviewed and it will be seen how it can be facilitated to pay it in installments.
The government alone cannot provide employment to the entire population of 250 million, therefore the private sector should create more employment opportunities.
He said that digitalization of the economy will bring transparency, revenues will increase, the salaried class pays more taxes, and relief should be given to the salaried class.