suicide attack<\/a> in Shangla claimed six liv\u00ades, including five Chinese workers.<\/p>\nHe said Pakistan enjo\u00ady\u00ad\u00aded excellent ties with Chi\u00adna and the second phase of China-Pakistan Econo\u00admic Corridor would expedite economic development.<\/p>\n
He said the government has no other option but to go for another IMF programme, adding that the programme didn\u2019t stop \u201cus from increasing our gro\u00adw\u00ad\u00adth and exports and expan\u00adding the tax net. We will ensure no more inflation due to the next IMF programme.\u201d He ter\u00ad\u00admed another IMF prog\u00adr\u00ada\u00adm\u00ad\u00ad\u00adme a req\u00adu\u00adirement for the cou\u00adntry\u2019s economic stability.<\/p>\n
The prime minister said the Special Invest\u00adment Facilitation Council (SIFC) was accelerating investment prospects by removing hurdles. He said the government was outsourcing airports, be\u00ad\u00adsides expediting the privatisation of PIA, and reg\u00adretted that state-owned enterprises were making billions of rupees of losses annually.<\/p>\n
Terming the highest tax\u00adpayers heroes of the nation, PM Shehbaz anno\u00adu\u00adnced significant incentives for them, including issuance of blue passport and conferring of Pakis\u00adtan Honour Cards and hono\u00adrary title of ambassadors of the country upon them.<\/p>\n
He said about Rs65 billion refunds had been issued to exporters upon his directive and he had also ordered making it a routine matter without any leniency. He stressed that the government and private sector had to work closely to overcome economic issues and challenges being faced by the country.<\/p>\n
He said the federal government with the support of provincial governm\u00ade\u00adn\u00ad\u00adts would address the iss\u00adues faced by the private sector and end red tape by providing them enabling circumstances so that they could tread upon the development path.<\/p>\n
He reiterated the na\u00ad\u00adtion should get rid of cos\u00adt\u00ad\u00adly oil-churning power units to provide competitive po\u00ad\u00adwer supply to industries, adding that he had direc\u00adted the authorities concer\u00adned to do away with such junk.<\/p>\n
About the Federal Boa\u00adrd of Revenue, PM Shehbaz said the government was taking measures for its complete restructuring and a consultant would be appointed next month for that purpose. He said that about Rs27bn was under litigation whereas the revenue target was set at Rs9 trillion.<\/p>\n
He underscored the need for appointment of competent tribunal heads to expeditiously dispose of the pending litigation, adding that he had also appealed to the chief justice of Pakistan for speedy disposal of such cases at the upper tiers.<\/p>\n
He said the country\u2019s tax collection stood at around 9pc of GDP which was the lowest in the region while a huge chunk of tax was siphoned off. If this massive leakage is not plugged, further impo\u00ad\u00adsition of taxes would not yield results, he said, underlining the need for reducing tax slabs.<\/p>\n
The premier appreciated the tax collectors and relevant departments who, he said, would also be given public recognition. He emphasised upon an exports-led growth, boosting of IT and agriculture development.<\/p>\n
PM-president meeting<\/strong><\/p>\nMeanwhile, Prime Minister Shehbaz Sharif on Tuesday met President Asif Ali Zardari wherein they expressed their resolve to steer the country out of prevailing challenges. They also discussed the country\u2019s overall political and economic situation, a President House press release said.<\/p>\n
The meeting also featured deliberations on the measures to extend relief to the masses during Ramazan.<\/p>\n
Published in Dawn, March 27th, 2024<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"\u2022 ML-1 rail project to be started, economic zones established under new phase\u2022 Highest taxpayers to get blue passports, honorary title of ambassadors\u2022 Premier, president vow to steer country out of prevailing crises ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday revealed that an agreement on the second phase of CPEC would soon be signed with 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