Govt targets 13.5% Tax-to-GDP ratio

News Image

MG News | October 17, 2024 at 03:22 PM GMT+05:00

0:00

October 17, 2024 (MLN): Federal Finance and Revenue Minister, Senator Muhammad Aurangzeb, has reiterated the government’s commitment to increasing the country’s tax-to-GDP ratio to 13.5% by addressing leakages and bringing untaxed sectors into the tax net.

He said the government under Prime Minister Shehbaz Sharif had approved a comprehensive transformation plan for FBR and brought in experts on the Board of PRAL (IT arm of FBR).

The Minister was talking to U.S. Ambassador Donald Blome who called on him at the Finance Division today.

During the meeting, matters of mutual interest and bilateral cooperation were discussed.

Senator Muhammad Aurangzeb called the macroeconomic reforms “work in progress” and pointed to more serious challenges of climate change and child stunting which threatened to perpetuate inequalities and disrupt the pace of economic growth and stability in Pakistan over the medium to long term.

He said Pakistan looked forward to building climate resilience through adaptation reforms and averting malnutrition with the technical and financial support of development partners for ensuring holistic development goals.

U.S. Ambassador Donald Blome appreciated Pakistan’s efforts for improving macroeconomic stability and lauded the government for initiating challenging and bold reforms, particularly in the taxation and energy sectors.

He reaffirmed his commitment to enhancing bilateral cooperation in technical and development initiatives, and promoting high-quality US investment for economic growth of Pakistan.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg