ISLAMABAD: Prime Minister Imran Khan said on Thursday that the government is trying to bring about improvement and simplification in the tax system.
The prime minister said this, while talking to an economist, Arthur Betz Laffer, who along with Adviser on Finance Shaukat Tarin called on him.
Tax record collection reflects the confidence of the people in the government, he said.
According to the Prime Minister’s Office, during the meeting innovation of tax system was discussed besides negative impacts of tax system world over.
During the meeting, discussion was also held on increasing the tax base in Pakistan, improving and innovating as well as reducing the tax burden on the people and simplifying the system.
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Earlier, during the day, according to the Finance Ministry, Shaukat Tarin held a meeting with Dr Arthur Laffer and members of the American Business Council. Secretary finance and senior officers also participated in the meeting.
Welcoming Dr Laffer, the adviser highlighted the current economic situation of Pakistan and briefed on the steps taken by the present government to address the challenges faced by the economy of Pakistan and put it on the path of progress and growth.
The adviser stressed that priority sectors such as modernisation of agriculture, IT, and industry as vital for increase in exports and economic growth.
Government has taken pragmatic steps to tackle the inflation, stabilise foreign exchange and increase productivity, he added.
Dr Laffer appreciated the efforts taken by the present government in various sectors for economic progress and development.
Citing examples from the USA, Turkey, and China in achieving economic stability, he suggested key economic reforms to boost prosperity and economic growth in Pakistan.
He cited great potential in accelerated privatisation, simplification of taxes and strengthening of exchange rate to push economy forward.
The adviser applauded Dr Arthur’s suggestions in the realm of economy and valuable support for bringing economic progress in Pakistan.
Copyright Business Recorder, 2021