Islamabad: Mr Abdul Hafeez Sheikh Advisor to Prime Minister on Finance called on Speaker National Assembly Asad Qaiser in Islamabad today. Economic situation in the country and measure initiated by the Government for restructuring of economy and generation of economic activity in the country came under discussion.
The Speaker said that development of the country was directly dependent any on its economic situation. He said that present government inherited messed up economy however the government sagacious handled the situation. He said that immediate measures of the government ushered in strengthening of economy and built investors confidence. The speaker said that government Should formulate durable economic policies which should be pro poor and people yielding low incomes should not effect. The speaker praised the steps of government to broaden tax net however suggested for tax reforms and phasing out indirect tax in order to give relief to common man and sustainable economic growth. He also suggested for giving incentives to farming community.
Advisor to pm Dr. Abdul Hafeez Sheikh apprised the speaker about the steps taken by the government for revival of economy and to generate economic activity in the country. He said that as rightly pointed out by speaker the government was focusing on broadening of tax base and taxes would be rationalised to ease the burden of common man. He said that policies of the government would generate economic activity through direct foreign investment which would ultimately reduce the lending by the government. He said that current account deficit has also been reduced due to the fiscal policies of the government.
He informed the speaker that prime minister was committed for reliance on and exploitation of indigenous resources in national development. He informed that farming community would be incentivised so that the country could be self sufficient in food as well as produce raw material for our industries. He also informed the speaker about the allocation of substantial budgetary allocation under ehsaas program of the government for social protection to the marginalised Segments of the society.