Meeting of Pakistan Business Council and Overseas Investors at Karachi Chamber of Commerce

Thursday, May 4, 2017

The Provincial Minister for Finance Dr. Ayesha Ghaus Pasha has said that Punjab government instead of levying unnecessary taxes, is paying special attention to expanding the scope of tax net for improving tax infrastructure in the province. She said that tax is being collected from those earning high and providing luxurious services including boutique, salon, beauty parlors, and restaurants under computerized system in Punjab. She said that Punjab Revenue Authority intends to bring more than six services under tax net during next financial year. The Provincial Minister said that after computerization of land record, recoveries of Board of Revenue have increased substantially. She said that the number of tax payers is being increased for providing relief to the common man and strengthening the economy instead of increasing the tax rate.  She said that due to solid policies of Punjab Government and better law and order situation, local and foreign investment has increased. She expressed these views while addressing a consultative meeting with overseas investors about the increase in resources and preparation of provincial budget 2017-18 at Chamber of Commerce, Karachi today. President of Overseas Investors Abdul Aleem, Owners, CEOs of National And International Companies besides senior office-bearers of chamber participated in the meeting.

The Provincial Minister told the meeting that Punjab government is considering a proposal of setting up of an agency for recovery of all kind of taxes at provincial level for removing reservations of all chambers of commerce including overseas. She made it clear that Punjab government in accordance with the direction of Chief Minister Punjab, Muhammad Shahbaz Sharif is evolving a comprehensive policy for resolving issues between Federal Government and the Provinces so that the investors could get rid of problems like dual taxation. Ayesha Ghous Pasha said that best relief would be provided to the traders and industrialists in the coming Punjab budget. Overseas investors while informing the Provincial Minister about the problems relating to the payment of taxes submitted proposals for their redressal. They said that traders and industrialists are satisfied over the administrative measures of Punjab Revenue Authority and development of the Province. They stressed the need of access of common man to the information about taxes. Chairman Punjab Revenue Authority Raheel Ahmad Siddiqui informed the meeting about the tax system and facilities being provided to the traders’ community by the Punjab Revenue Authority. He said that Punjab Revenue Authority is simplifying tax forms and other information for common man. He said that recovery system is being computerized completely so that chances of leakage and other malpractices could be eliminated. Ayesha Ghaus Pasha informed the investors that Punjab Government has set up 14 services centers for recovery of taxes and providing information under one-window operation. She stated that her visit to Karachi is aimed at discussing recommendations and proposals regarding facilities being provided to tax payers and financial system of government with traders and industrialists about business matters so that a transparent tax system could be evolved with the help of their solid and practicable proposals in future.

Earlier Provincial Finance Minister while addressing traders and industrialists at Pakistan Business Council said that the progress of the country depends on payment of taxes and a computerized system has been introduced for transparent tax system in Punjab. She further said that it is necessary to improve tax system for putting Pakistan on the road to progress in the real sense. She explained that under 18th amendment more powers have been given to the provinces for recovery of taxes. While referring various tax rates in different provinces, Ayesh Ghaus Pasha said that National Finance Commission exists for best taxation system, therefore, all provinces should fully benefit from NFC for harmonizing tax system. She said that the Punjab Government has arranged internship for O and A level students besides graduate and master students for creating awareness about payment of taxes.