Govt to widen tax net instead imposing new taxation: Ahsan Iqbal

ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal said the government has initiated measures to “widen the tax net and stem leakages in tax collection instead of imposing new taxation” in the budget 2023-24.

Speaking to a private news channel, the planning minister said that the incumbent government has enhanced Balochistan’s share in Public Sector Development Programme (PSDP).

“The government has formulated a special development programme for 20 underprivileged districts in the budget 2023-24|, he added.

Ahsan Iqbal said the PSDP has mainly been aligned with the development framework of five Es ie exports, equity, empowerment, environment, and energy as well as reconstruction and rehabilitation of flood-affected areas to regain the momentum of economic growth.

He said the 60 percent share of the total PSDP has been earmarked for ongoing schemes and 40 percent for the financing of new schemes commenced in the 2023-24 budget.

In view of the economic condition, the government has fixed realistic targets besides formulating long terms policies to bring economic stability in the country, he added.

It is pertinent to mention here that Finance Minister Ishaq Dar – while presenting the Budget 2023-24 – said that no new tax was being imposed this year.

“It is the effort of the government to provide maximum relief to the people,” he added.

The finance minister said the government’s efforts were to enhance employment opportunities and facilitate the businesses in order to promote exports which will help enhance the foreign exchange reserves.