Tax system improved due to reforms in FBR: Finance Advisor


Islamabad, Nov 16 (TNS): Adviser to Prime Minister on Finance Abdul Hafeez Shaikh has said the government is giving subsidies to industrialists and exporters to improve the economy.

Addressing a ceremony of Overseas Investors Chamber of Commerce and Industry in Karachi on Saturday, he said International Monetary Fund has also expressed confidence on the economic reforms agenda of the government.

The Adviser said the tax system has improved as a result of reforms being introduced in the FBR. He said difficult economic situation has been overcome.

The government did not borrow any money from the State Bank of Pakistan over the last four months. The Stock Mark has also witnessed a signficant improvement.

Abdul Hafeez Shaikh said the current account deficit has reduced whilst investors have also been giving subsidy of two hundred billion rupees.

The Adviser said two hundred and fifty billion rupees are also being spent in the energy sector.