The main intention of the imminent budget would be extension of the tax net, said Shah. Dr Salman Shah, Adviser to the Prime Minister on Finance although evaded while expressing his observation on whether the government is taxing the stock market or not.
He said the government would spotlight on simplifying tax procedure, increase self- evaluation method, validation of tax rates, tax relief to the low-income groups, extra investments in precedence quarter and enhancement in social safety net.
He said, 'No' while answering a query that government could restore the mechanism of kibor plus with the mechanism libor plus to fix the rate of export refinance for export-oriented industries from next fiscal year onwards. He added, affirmation of such information would only be likely after the budget declaration.
On being asked that textile industry was demanding subsidized capital for investment, he said, 'government has created a task force for the textile industry and an ultimate outcome in this regard will be prepared subsequent to assessment of the statement put forward by the task force.'
He added, 'the aim is to enhance exports, so the government would not only get rid of the problems of the export-oriented industry but also guarantee competitiveness for it.'
He prepared a thorough presentation on economic steadiness of the nation and financial integrity of government in the eyes of international investors. He also widened upon a seven-point plan to make certain macro-economic constancy.
Dr Shah also talked about specific evils faced by the government in arrangement of the issue of National Finance Award with regions and said the current method is enjoying assurance of all the four Chief Ministers.
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