Tax registration vital for economic development: PM Imran

ISLAMABAD: Prime Minister Imran Khan on Wednesday said that tax registration by traders is vital for economic development as the government cannot be run efficiently without enhancing the revenues.

Addressing a ceremony of sales tax refunds in Islamabad, PM Imran urged the business community to take it as their national duty to pay taxes.

Terming the wealth creation essential for national development, he said the government will promote and facilitate the business community and industry. PM Imran said that measures were also being taken to curb the menace of smuggling to benefit the national economy.

He maintained that the government was successful in reducing the current account deficit for the first time in four years.

The premier said Pakistan has a potential more than many countries in the region but it was not harnessed by previous governments. PM Imran regretted that lack of continuity in policies also led to adhocism in policy making.

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He has expressed the confidence that long term policies of the government will lead to economic stability of the country.

PM Imran said, “Pakistan was facing a loss of 19.5 billion dollars when the incumbent government came into power. The rupee was under pressure and economic indicators were poor.”

Appreciating the work of government’s economic team in a relative short period of time, the prime minister said the currency was now stabilizing and stock market is continuously improving.

He said export volume is also enhancing which is good for overall economy of the country.

The prime minister said that he believes that improvement in long term policies of the country will further improve the economic image of the country, besides increasing trust of local and foreign investors.