Advisor to Finance Ministry, Dr Ashfaq Hassan on Wednesday expressed the hope that tax revenue collection will hopefully be around Rs 590 billion during the current financial year due to reforms introduced by the government.
Speaking in a PTV programme, he said improvement in CBR and growth in economic activities during the last two years has increased revenue collection.
He said, last year CBR collected Rs 518 billion revenue against its set target of Rs 510 billion. For the first time CBR had achieved more than its original revenue target, he added.
Self-assessment scheme introduced by the government in CBR also helped increase the tax collection during the last two years, he said.
In response to question he said reforms and policies introduced by the government has made the economy stable. During the last two months, 40 percent increase has been registered in imports of the country as compared to last year's corresponding months, he added.
Ashfaq said that 35 percent increase has been witnessed in imports of machinery and capital equipment during the last two months as compared to corresponding months. Large manufacturing sector also showed marvellous performance during last couple of year, he added.
He said industry production increased by 16 percent during last two months as compared to corresponding months.
About price hike, he said it is global phenomena as all over the world prices increased due to rise in prices of oil.
About inflation rate, he said it would remain 5.5 percent during the current financial year.
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