Government determined to come up with pro-investment, industry budget

Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan Friday said that the government was determined to come up with a pro-industry and pro-investment budget before ending its term on a successful note.

Talking to office-bearers and representatives of various trade associations, he informed the traders that his team at Federal Board of Revenue (FBR) would sincerely look into the issues and concerns and their proposals for redressing the situation would be considered for inclusion in the next year's budget.

He also discussed various proposals aimed at further facilitating the business community and boosting government revenues.

Those who met the minister included office-bearers and representatives from the Pakistan Tyres and Tubes Manufacturers Association as well as other trade bodies, said a press release by the Federal Board of Revenue.

The meetings were part of an extensive consultative process initiated by Haroon Akhtar Khan and his team at FBR to have a first-hand understanding of the issues and concerns of the business community ahead of firming up and finalizing tax proposals for the next year budget. 

The representatives of the Pakistan Tyres and Tubes Manufacturers Association briefed Haroon Akhtar Khan on what they described as anomalies in the taxation regime governing the tyre industry and presented their proposals to the minister for providing the industry a level-playing field and further boosting growth.

They told the minister the industry was doing considerably well, not only meeting a major share of the local market but also exporting their products abroad because of their competitive prices and better quality.

In his meeting with the office-bearers and members of trade bodies of twin cities, the Minister assured them the government was concerned about their  issues and concerns and due consideration would be accorded to their recommendations and proposals for the upcoming Finance Bill.

The Chambers' representatives thanked the minister for understanding their issues and assured full support to FBR's efforts for broadening the tax base and promoting tax compliance.