Karachi: Finance Minister Asad Umar has said that the government will announce a tax-free mini-budget on January 23 – a news source reported.
He was addressing members of the business community at the Karachi Chamber of Commerce and Industry (KCCI). He dispelled the impression that the budget will levy new taxes on consumers.
He said that the budget will introduce measures to facilitate trade and industrialisation. He said that Foreign Direct Investment (FDI), during five months of the current fiscal year, was recorded at USD 818 million. FDI during five months of the last fiscal year was recorded at USD 1.35 billion.
However, the minister said that Pakistan has improved its ranking regarding the ease of doing business. He said that the country reached 136 from its previous ranking of 147.
Umar said that the government will soon disburse PKR 400 billion in outstanding refunds. He added that a Special Economic Zone (SEZ) is being developed in Gwadar.
