October 17, 2003	Friday	Sha'aban 20, 1424

ISLAMABAD, Oct 16: Finance Minister, Shaukat Aziz said on Thursday that government was considering various measures for plugging loopholes in the tax administration to raise more revenue in the coming years.

He said this at a seminar on the role of Federal Tax Ombudsman (FTO) in providing relief to the taxpayers here on Thursday.

He said that the tax-to-GDP ratio in Pakistan was still very low as compared to the other developing countries.

The minister said that in the next few years the potential taxpayers would be brought under the tax net to increase the tax- to-GDP ratio.

He said that the revenue target of Rs460 billion set for the year 2003-04 would be achieved easily as the tax authorities have already exceeded the first quarter’s target.