ISLAMABAD: Prime Minister Imran Khan said on Friday that reforms were under way in the Federal Board of Revenue (FBR) to improve the tax system.

The premier in a meeting with the heads of all the major chambers of commerce said that consultation with all stakeholders will accelerate this process.

PM Khan and the business community also agreed to devise a strategy with mutual consultation to increase tax revenue.

Federal ministers Hammad Azhar, Makhdoom Khusro Bakhtyar, Commerce Adviser Abdul Razak Dawood, Special Assistant Dr Shahbaz Gill, State Bank of Pakistan Governor Dr Reza Baqir and senior officials attended the meeting.

Finance Minister Shaukat Fayyaz Tarin participated via video-link.

An official announcement said that the prime minister directed the federal ministers to remain in contact with all stakeholders and hold regular meetings with them to listen to their problems and proposals. He said after providing facilities to industrialists and the business community, the government is now focused on resolving issues through mutual consultations.

Emphasising industrial development for economic progress of the country, Mr Khan said the government is providing incentives to industries for enhancing exports.

He emphasised the importance of industrial development for the national economy and said the government was providing facilities to industries to boost exports.

The prime minister said a strategy was on the cards for promotion of the tourism industry, while a comprehensive plan for the development of the agriculture sector would also be launched.

The presidents and vice presidents of the Federation of Pakistan Chambers of Commerce & Industry and all key chambers including Karachi, Lahore, Sarhad, Quetta, Gujranwala, Sialkot, Faisalabad, Gujrat, Multan, Sargodha, Gwadar, Islamabad and Rawalpindi attended the meeting.

They expressed their satisfaction over the government’s pro-business policies and the steps taken for ease of doing business.

The participants of the meeting appreciated the premier and his economic team for attaining 4pc GDP growth despite Covid-19, 15pc increase in large-scale manufacturing, incentives for export industry and removal of hurdles, incentives for small and medium enterprises by the State Bank of Pakistan, and providing the business community opportunity to benefit from trade potential of Uzbekistan. They also lauded the government’s initiative to directly listen to the proposals of the business community for the first time to address their challenges.

Published in Dawn, July 31st, 2021