Lahore: Punjab Finance Minister Hashim Jawan Bakht has stated that the government will introduce reforms to wean the country off its requirements for funds bailout packages from the International Monetary Fund (IMF), a news source reported. He said that these reforms will be structural and financial in nature, and will also end Pakistan’s reliance on the World Bank, and other such transnational institutions.
The finance minister was speaking at an event organised in relation to Tax Day on Wednesday. He said that the said reforms were unavoidable, and the country needs unpopular decision to put an end to IMF and World Bank support in the future.
Bakht stressed that the results of these reforms and unpopular decisions will surface in time. The added that government is making the tax payment system easier and friendlier for the tax payer. He further told that the devolution of power has increased revenue collection, and is benefiting the public.
While addressing the audience, he revealed that taxpayers of the Punjab Revenue Authority (PRA) will increase to 100,000 by 2020. Bakht added that introducing an inspector-less system in the taxation mechanism will be a game-changing step.
During this event, PRA Chairman Javed Ahmed also revealed that the authority had collected PKR 110 billion in taxes last year – with an average growth of 36%.
