Finance Ministry Meets to Discuss Pakistan’s Deteriorating Financial Situation

Different matters relating to Pakistan’s financial situation were discussed at a meeting of Finance ministry presided by Minister Ishaq Dar in Islamabad.

According to the ministry, Pakistan’s external obligations stand at 18 billion dollars whereas, the World Bank has shown the obligations at 31 billion dollars.

Weak Economy Alarms the Opposition And Army:

Recently the issue of Pakistan’s feeble economic situation has been a hot topic in the country. The government is being heavily criticized by the opposition parties for their failed economic policies. The Army chief has also raised his concerns about the economy of the country recently.


Read More: The State Bank Is Underestimating the Threat To Pakistan’s Economy: Brokerage House


The concerns were increased when World Bank published its report indicating that Pakistan’s external debt has been raised to $31 billion and that the country might not have enough resources to repay the debts.

 


Read More: Pakistan’s GDP Growth Highest in Decade: Economic Survey


 

Other Aspects Of the Meeting:

During the meeting, the economic performance of the country was reviewed. Revenue collection, exports, imports remittance etc. were discussed during the meeting.

The meeting was briefed that the imports have slowed down during the first two months of the current fiscal year while remittances and exports have increased.

Taxpayer’s Outreach Programme:

The progress on tax payer’s outreach Programme launched by FBR for the widening of the tax base was discussed.

The outreach program includes workshops on e-filling of tax returns for members of tax bars, professional bodies, and chambers of commerce and industry.  Furthermore, large corporate organizations have been approached in this regard to ensure that all employees receiving taxable salary files their tax returns.

Helpdesks have been established to facilitate people in this matter.

According to the ministry due to the efforts for the filing of tax returns a total of 352,000 returns had been received as on Oct 13 as compared to 162,000 returns filed on the same date last year.



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