Speaking at a high-level consultative meeting on tax reforms and private dialogue on Thursday, Punjab Finance Minister Ayesha Ghaus Pasha has said that the provincial government has enhanced development expenditure in Punjab by 37pc, but growing population continues to overshadow the growth.
Pasha stated that the energy crisis has been a top priority of the government since load shedding in the province had seriously affected Punjab’s economy.
Numerous experts and representatives from the public and the private sector attended the meeting that was held jointly by the Sustainable Development Policy Institute (SDPI) and the Centre for International Private Enterprise (CIPE).
The meeting attendees held detailed discussions on the current federal and provincial tax regimes and suggested various solutions focussed on improving the current state of the economy.
Pasha asserted that the government is making serious efforts to improve the quality of human resources capital in the country by investing in better education and skill development. She further added that the government has been conducting consultation sessions with the academic and private sector organisations focused on streamlining the growth in the economy.
Furthermore, Pasha informed that the government is being urged to improve the business climate domestically. She said that the Punjab government has proposed a strategy to mobilise tax revenues.
The government aims to improve tax collection mechanism through automation in addition to maintaining computerised land records, she added.
Speaking on the occasion, Punjab Planning and Development Board Chairman Agha Waqar Javed revealed that the government is inclined to encourage private sector-led growth in the province.
He further informed that the Planning and Development Department is authorised to undertake a review of the service delivery of all public sector enterprises in Punjab. This will help highlight areas which present room for improvement.
SDPI Executive Director Abid Qaiyum Suleri stated that the business community has conceded to paying taxes. However, the government needs to eliminate double taxation while also facilitating taxpayers.
