We have to jack up revenue collection: Tarin at post-budget presser

ISLAMABAD: Speaking at his post-budget 2021-22 press conference on Saturday, Finance Minister Shaukat Tarin stressed the need for jacking up revenue collection by taking the country’s exports-to-GDP ratio to 20 per cent from the current 8pc.

The first issue is that we don’t have revenue, the minister said, adding we have to take revenue collection to 20 per cent of GDP over next seven years.

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The government is compiling data, including mobile phone and electricity bills of people, in a bid to broaden the tax next, he maintained, highlighting that the budget 2021-22 focuses on improving the lot of the poor and ensuring sustainable economic growth through incentives for various sectors including agriculture, industry and housing.

Poor families will be given loans of up to Rs2 million to build their own houses beside Rs500,000 interest free loans for business, Finance Minister Tarin said. They will also be given health cards and one member of each family will be imparted technical training, he added.

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He said different sectors, including the agriculture and industries, have been given tax concessions and incentives in the budget to boost the economic growth.

More to follow…

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