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Pakistan's exports, FBR revenue has increased as COVID declines, says Sheikh

  • Hafeez Sheikh said that the government wants to give autonomy to the institutions.
Published September 7, 2020
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Advisor to Prime Minister on Finance Abdul Hafeez Sheikh said that after the decline in coronavirus cases in the country, Pakistan's exports started to increase and the FBR's tax revenue has improved.

Speaking at the Pakistan Stock Exchange (PSX) on Monday, Sheikh said that Pakistan is currently the best market in Asia.

"Everyone knows the problems of the economy, but we have to put together the best team, bringing new tools to improve the Pakistani economy and boost investment," he said.

Hafeez Sheikh said that the government wants to give autonomy to the institutions. He said that the budget was increased despite reducing government expenditure, the government is giving subsidy on electricity, gas, tube well, and fertilizer. "Subsidy is being provided to 90 percent consumers of gas and at utility stores to provide relief to the general public," the advisor said.

"If the sales tax refund is not paid within 72 hours, contact me," he said.

The finance adviser said the government was criticized for correcting the exchange rate policy, exports began to rise after the coronavirus and FBR tax revenues improved.

He said that the government will work together and take full advantage of the potential of the country's economy, find new markets for Pakistani products. "Together we will meet the expectations of the Pakistani people," he said.

He said that the government has set aside Rs 30 billion for the construction of small houses, Rs 100 billion was given in the Ehsas program in addition to the poor to support 16 million families. Sheikh said that because of Coronavirus, a relief package of Rs 1,240 billion was given.

Hafeez Sheikh said that it would take another three to four months for the economy to recover from the loss of COVID.

Talking about Karachi, Shaikh said that in order to boost the country's economy, the development of Karachi's infrastructure is pivotal.

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