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FBR’s  performance directly affects provincial resources: Hashim

Says Punjab government is promoting education, health, agriculture sector

 

Our Special Correspondent

LAHORE: Provincial Finance Minister Makhdoom Hashim Jawan Bakht has said here Tuesday that the performance of Federal Board of Revenue (FBR) directly affects provincial resources.
Distinct improvement has occurred with the establishment of provincial authorities in the revenue collection system. Punjab government is taking concrete measures in order to increase resources and lessen its burden on the federation. More emphasis is being given on tax recovery instead of tax ratio. Punjab government is promoting education, health, agriculture sector as well as small and medium enterprise businesses by utilizing to the utmost its present resources. He said that by restoring confidence of private sector, investment is being increased in the infrastructure and social sectors. Common man is provided ease in their lives through government resources. We are reducing services sale tax on small business. Agriculture income tax slab has been increased from Rs. 80 thousand to Rs. four lac and those farmers who were paying Rs. 1.5 lac annually on Rs. 12 lac will now pay only Rs. 30000. 100 percent increase has been done in the agriculture budget as compared to last year. Balance will have to be struck between skills development and demand of markets and it will be this year’s big change.

These views were expressed by Provincial Finance Minister Makhdoom Hashim Jawan Bakht by participating in a seminar to create awareness about the budget for respected members of Punjab assembly. A detailed briefing was given to government and opposition members about the preparation of budget and allocation of budget for the next financial year. Provincial Minister briefed the participants that facts and figures about the budget have been translated into Urdu and English languages for the comfort of stakeholders. A common citizen can not only acquire awareness about government priorities but can also get benefit by undertaking steps in the required sector of his need. Provincial Minister further said that we could also have spent next five years by doing fake progress and could leave by putting the burden of debt on the next government. We resorted to bear the brunt of bringing real progress and equitable prosperity. He further said that we also ensured that neither the South Punjab budget should be spent on any other project nor any district should be ignored. He further said that it is imperative to bring improvement in local production in order to improve exports and for this reason we are introducing reforms to bring improvement in the agricultural and industrial productions. If imported cosmetics, soap and shampoo become expensive then it will increase the usage of local productions and bring improvement in its quality. Our economic problems demand urgent solution and it is imperative to undertake long-term steps in order to ensure long-lasting prosperity and for this reason we are introducing structural reforms. Double investment in the fields of agriculture and SMEs will increase profit manifold. It is our mission to ensure formation of Land Record Authority in every district for the convenience of farmers, concluded Provincial Finance Minister Hashim Jawan Bakht.

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