LAHORE: Punjab Finance Minister Jawan Bakhat Hashim said that Pakistan will not require any World Bank and International Monetary Fund (IMF) support in future.
Addressing at annual Tax Day celebrations event here on Wednesday, he said that these structural reforms were unavoidable and unpopular decisions were need of the hour to avoid the IMF and World Bank in future.
The minister believed that the results of unpopular decisions and reforms will be visible gradually. He said the government was making the tax payment system easy and taxpayer friendly. He was of the view that devolution of the power has increased the revenue collection and benefiting the public.
The minister said that the government respects the taxpayers and believed that they were partnered in the development, progress and economic growth of Pakistan.
He said taxpayers of the Punjab Revenue Authority (PRA) will increase to 100,000 by 2020 which started from 2000 taxpayers to reach at 65000 while there was a need to increase the tax base at municipality level in a similar way.
He said the devolution increased the taxpayers and tax based in the province. He asked the Chairman PRA to invite the new taxpayers too in the Tax Day celebrations to motivate, encourage and give ownership to them as well.
The minister said that Inspector less regime in the taxation system will be the game changer. Furthermore, the government has been focusing on streamlining the revenue collection at federal and provincial levels while the government required only public to increase the tax collection as Pakistanis are one of the top charity giving nation.
Addressing on the occasion, provincial minister for Board of Revenue (BOR) Malik Muhammad Anwar said that promotion of tax culture was crucial for the economic growth of the country.
They said that if the taxpayers get the belief that their paid taxes are being spent on their welfare projects then everyone willingly pays the taxes. They said that corruption-free taxation system was the agenda of the government. Provincial Minister for excise and taxation Hafiz Mumtaz and Secretary Finance Sheikh Hamid Yaqoob were also present on the occasion. (INP)
