Summary PM says capital flight to tax-free havens has deprived country of true potential for development.
While presiding over a meeting of Federal Board of Revenue in Islamabad on Monday afternoon, Prime Minister Raja Pervez Ashraf has said widening the tax base and increasing tax to GDP ratio by raising the level of collection is imperative for sustainable development in the country.
He said a large segment of Pakistan s economy is informal‚ depriving the national exchequer of its due share and acting as a hindrance for economic planning and development.
The menace of capital flight to tax free havens has deprived the country of its true potential for development and progress.
Prime Minister regretted that demand for cars‚ luxury goods and housing reflected the availability of wealth in the country. Unfortunately tax base is not commensurate to this phenomenon.
The Prime Minister urged the FBR to plug leakage of taxes and bring elite groups of the society into the tax net.
Talking to Minister for Communication Dr Arbab Alamgir Khan‚ Asma Arbab Alamgir‚ MNA and honorary advisor to UNHCR Prime Minister said early completion of realignment of Karakuram highway‚ Lowari tunnel and Gwader-Ratodero road are top priorities of the present government.
Minister briefed the Prime Minister about projects of his Ministry.
Asma Arbab Alamgir apprised the Prime Minister about combined projects of UNHCR and Ministry of SAFRON.
