ISLAMABAD
\nFinance Minister (FM) Muhammad Aurangzeb has said government has started journey towards economic uplift and more steps will be taken to provide relief to people.
\n\u201cRelief has been given to salaried class, traders, exporters and construction sector in the budget. Government has started journey towards economic development. More steps will be taken to extend relief to people. Duties have been reduced to nil on what agriculture goods we import from other countries. This is budget of salaried class, industrialists, exporters and construction sector. We are trying to lessen the burden on salaried class.
\nHe said this while addressing a joint press conference with state minister for finance Bilal Azhar Kiyani, information minister Atta Ullah Tarar and chairman FBR here Saturday.
\nMuhammad Aurangzeb said that IT exports are expected to rise to 4.5 billion US dollars, which will be a positive development for the national economy. He said this reflects progress in the export sector and contributes to overall economic improvement.
\nHe added that export growth remains a key pillar of the government\u2019s economic strategy.
\nThe finance minister said that the Prime Minister and all stakeholders agreed that the super tax should be abolished. He said decisions have been made keeping in view the requirements of exporters and industry stakeholders.
\nHe also said that a fertility scheme has been introduced for farmers, while a Prime Minister Youth Loan scheme has been allocated for the youth.
\nMuhammad Aurangzeb said that customs and regulatory duties on agricultural machinery and equipment have been reduced to zero. He said that facilities have been provided in the agriculture sector to reduce difficulties for farmers.
\nHe added that agricultural credit has now exceeded 20 billion rupees, reflecting support for the farming community.
\nThe finance minister said that the construction sector plays an important role in economic development. He said the country has entered a journey of economic growth.
\nHe added that despite limited resources, the government has presented a public-friendly budget. He also mentioned that during the Middle East conflict, it became clear how important it is to have a national shipping fleet.
\nMuhammad Aurangzeb said that decisions have been taken while considering demands of the export industry. He said the 5 percent tax on salaries has been reduced to 1 percent, while the 15 percent rate has been reduced to 13 percent.
\nHe said that positive feedback has been received on relief measures for higher salaries and surcharge-related steps.
\nHe also said that misinformation sources should be held accountable.
\nHe said economy is set on right direction. We will move towards growth from economic stability.
\nThe important thing of this budget is to provide such environment to increase exports which is better. We have made cut in super tax. Other tax reforms have been introduced. Now federal cabinet has given direction that super tax be abolished for certain exporters.
\nHe said this is not only matter of taxes but this is matter of investment too.
\nHe said we don\u2019t lack resources. We will have to move towards public-private partnership.
\nNo increase of any kind is being made in petroleum levy. Only change is made.
\nHe said several ministries have been merged into each other. Steps are underway to merge investment board and SIFC. The way several companies have gone out of country, several companies have come to the country.
\nState minister for finance Bilal Kiyani said this is awami budget. This is budget of salaried class, industrialists, exporters and construction sector.
\nInformation minister Atta Ullah Tarar said the FBR culture has been made free from safarish and this way leakage of billion of rupees has been stopped.
\nHe remarked those who were saying the country is on the brink of default should see the economy is heading towards path of ascendency.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Finance Minister (FM) Muhammad Aurangzeb has said government has started journey towards economic uplift and more steps will be taken to provide relief to people. \u201cRelief has been given to salaried class, traders, exporters and construction sector in the budget. Government has started journey towards economic development. More steps will be taken to extend […]<\/p>\n","protected":false},"author":2,"featured_media":537700,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-551122","post","type-post","status-publish","format-standard","has-post-thumbnail","category-national"],"yoast_head":"\n