Macroeconomic advisory group backs efforts to ease inflationary woes
ISLAMABAD
Minister on Finance and Revenue Shaukat Tarin has said that the government is taking all possible steps to give a boost to the small and medium industry (SME) sector of the country.
The finance minister said this during a meeting with a delegation of All Pakistan Bedsheets & Upholstery Manufacturers Associations (APBUMA), which led by its Chairman Arif Ehsan Malik called on him on Friday. The deputy governor of State Bank of Pakistan (SBP), member Federal Board of Revenue (FBR) and senior officers also attended the meeting.
Tarin appreciated the contribution of APBUMA in the economic growth of the country. He assured that the government is actively carrying out all measures that could boost the SME sector. He said that the growth of the SME sector leads to employment generation, export promotion and boost overall business activity in the country. The finance minister heard all issues of APBUMA keenly and asked the State Bank of Pakistan and Federal Board of Revenue to resolve their issues on priority basis.
Earlier, the APBUMA chairman briefed the finance minister on the working of the association and informed that member-wise it is the largest association of SMEs in the country. This sector is one of the major contributors in terms of exports and contributing up to $2 billion in revenue.
He further apprised that the association is currently facing various problems, especially related to sales tax refund and liquidity crunch. He thanked the finance minister for providing support and addressing their issues.
Meanwhile, Minister for Finance and Revenue Shaukat Tarin presided over the meeting of the Macro Economic Advisory Group on Friday.
The Macroeconomic Advisory Group endorsed the government’s efforts being undertaken for dealing with the impact of rising prices on the general population. All members shared contentment that new initiatives being undertaken by the government are in line with the sustainable macroeconomic stability paradigm.
The Macro Economic Advisory group recognised that global inflationary tendencies have cast undesirable impact across the globe including Pakistan. The committee comprehensively deliberated on various initiatives that can be undertaken for provision of maximum relief to the public. These initiatives specifically aim at resolving the economic constraints of middle and lower economic strata of the society.
