Miftah offers tax breaks to multinational companies if they help spur exports

Hopes turnaround in country’s economic situation very soon

By: News Desk
Published: 10:54 AM, 20 May, 2022
Miftah offers tax breaks to multinational companies if they help spur exports
Caption: File photo.
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Federal Minister for Finance and Revenue Miftah Ismail has offered tax breaks to multinational companies operating in Pakistan if they help spur exports also, reported 24NewsHD TV channel.

In a couple of tweets posted on Friday, Miftah Ismail promised tax incentives if the multinationals present him a plan to increase exports.

“I am truly grateful to all the foreign multinationals that operate in Pakistan, pay a large amount of taxes, provide employment and bring in technology. However I request all of them to present to me a plan to export out of Pakistan also. I will give them tax breaks for that.”

In another tweet, the finance minister expressed the hope that the country would see a turnaround in economic situation very soon.

He said “The Current Account Deficit for April came in at $623 million, less than half the average for the first 9 months of the fiscal year. This is a very good sign for external stability. With positive IMF talks underway, we expect a turnaround in the economic situation very soon.”