Govt to establish 4 economic zones in all provinces: Asad

ISLAMABAD: Federal Minister for Planning and Development Asad Uma has said that the current government is determined to establish four economic zones in all provinces. He said that feasibility for ML-1 project has been prepared and some $9 billion would be spent to improve the railway system.

Talking to the media on Tuesday, he siad Pakistan will  see economic growth in the coming financial year, as the country would come out of the stabilization period.

He predicted that the growth phase of Pakistan will begin from August 2020. However, he clarified: “I am not saying that we will  see six percent growth rate on immediate basis, but the much needed stabilization process would end in coming months.” 

Speaking about tax issues, Asad said that any taxation policy introduced should help increase the pace of economic growth. If one uses a tax policy that hampers economic growth, would not increase tax revenue in the long run but diminish it, he added.

Article continues after this advertisement

“The progress of the economy leads to wealth creation, which is then used to increase tax revenue, it does not work the other way around,” he added.

 

- Advertisement -
- Advertisement -

Must Read

Footwear exports surge 23.7pc in 2MFY22

ISLAMABAD: The export of footwear from the country increased by 23.72 per cent to $26.787 million during first two months of fiscal year 2021-22...