ISLAMABAD: Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan has said that the country is set to achieve 6 per cent economic growth this fiscal year.

He was talking to a Turkish investors’ delegation comprising members of the Turkish-Pakistan Business Council on Thursday, said an official press release. “We are aiming for 6pc GDP growth for 2017-18 as reflected by the low inflation rate, which is below 4pc and fiscal deficit which is around 5pc,” said Mr Khan.

“Various chambers tell me that profit margins are going up, their business volumes are going up. The fast moving consumer goods are doing very well. That is the strength of our economy. Our international ratings have been improving consistently. Today is the right environment to come to Pakistan,” Mr Khan said.

The special assistant informed the delegation that the corporate tax rates in Pakistan had come down from 35pc to 30pc and the government was further reviewing them in the coming budget.

“There are many other advantages to reap for foreign investors in Pakistan. We have no inheritance tax, no gift tax, no wealth tax and almost negligible social security tax which is very small as a percentage of salaries. These are the advantages for the foreigners who own 100pc of their company and can bring investment through their offshore concerns and own properties here,” he further explained.

The Turkish investors and businessmen said that they had set up their businesses in Pakistan for many years now and could see the vast improvement in the security situation and an increasing level of credibility that Pakistan now enjoyed as an investment destination abroad.

Published in Dawn, February 16th, 2018