Govt aims at enhancing revenue collection up to Rs7tr by 2023: Tarin
Finance Minister Shaukat Tarin has said that government aims at enhancing revenue collection up to seven trillion rupees by the end of its constitutional term in 2023.
Addressing a press conference flanked by Minister for Energy Hammad Azhar and Minister for Economic Affairs Khusro Bakhtiyar in Islamabad on Thursday, he said we had planned 20 percent increase in the revenue every year.
The finance minister expressed the hope to achieve a target of revenue collection up to Rs4700 billion whereas the target would be 5.8 trillion rupees next year.
He said despite Covid-19 pandemic, the government remained successful in bringing the economic growth rate close to four percent.
The finance minister said the growth rate would likely to remain around five percent during the next fiscal year. He said the government does not believe in imposing new taxes to enhance revenue collection and the objective for higher collections will be achieved through expanding the tax net.
Shaukat Tarin said we have decided to increase Public Sector Development Program by 38 percent, adding that they were also working to initiate the process of restructuring and privatization of loss-making state-owned enterprises.