PM underscores need for creative thinking aimed at reducing indirect taxes

ISLAMABAD: Prime Minister Imran Khan has directed his economic team to suggest out-of-the-box solutions for reducing the burden of indirect taxes, on the one hand, and also to ensure balance between state revenue and expenditure, on the other.

The PM has directed the finance minister to minutely look into wheat procurement process and various administrative costs that were contributing towards raising the prices of wheat.

This, he said, while chairing a meeting on steps to bring down prices of essential commodities. The meeting was attended by federal ministers, advisors, SAPMs, and senior government officials.

Finance Minister Dr Abdul Hafeez apprised the prime minister that a comprehensive and efficient plan was being prepared for wheat procurement and rationalisation of administrative costs involved in the process.

SAPM Dr Waqar Masood briefed the PM about duty structure on imported edible oil and pulses etc. He also presented a comparative analysis with other regional countries.

The prime minister said that his foremost priority was to provide maximum relief to the poor segments of the society. The prime minister said that every effort should be made to lessen the burden of indirect taxes and provide relief to the people.

Discussing wheat and flour prices, the PM directed that every single penny, being spent in unnecessary administrative expenditure, must be saved.

Copyright Business Recorder, 2021