Federal Finance Minister Asad Umar Wednesday said that the government has decided to use data of National Database and Registration Authority (NADRA) to detect tax evaders from the next month. "The government has decided to use technology to nab the tax evaders and plug loopholes in the system," he said this while speaking at the 'Leaders in Islamabad Business Summit.'
The finance minister said that the government is trying to increase the tax revenue by going after the tax evaders and bringing institutional reforms in the tax collection system. He said that a five-member committee has been formed and it interviewed to appoint secretary finance for the first time and name has been sent to the Prime Minister for approval.
The government is encouraging overseas Pakistanis to come back and contribute in development of the country, he said, adding that the government has appointed heads of ZTBL and NIT who were overseas Pakistanis without political interference.
Talking about the Small and Medium Enterprises, he said the government is extending discounted credit to the SMEs to make the credits accessible and the government has also incentivised banks for it. Speaking on the occasion, Advisor to Prime Minister on Commerce, Industries and Textile, Abdul Razaq Dawood said that there had been de-industrialisation during last ten years that resulted in increase of imports and significant decrease in the exports.
The government has been working to revive the industry besides taking measures to reduce the imports, he said, adding that the SMEs are major source of employment and government is working to form SME strategy with cooperation of the private sector.
Dawood said that the government would enhance financing and reduce duties for SME sector, adding that there are problems in procurement for SME sector and the government would change rules to bring improvement in this regard.
"We need to change rules regarding commercial restrictions for exports and the government will bring a change in budget in June this year," he added.
Advisor to Prime Minister of Russia on Information Technology and Digital Media, Alexander Shulgin said that 60 percent of global economy is on digital media, and technology has become an important tool to make wise decisions. The airlines, industries and smart cities need data and Pakistan has an opportunity for development, he said, adding that information technology is future and Pakistan could avail this opportunity for development. She said that theme of conference was to discuss challenges for leadership following recent transformation, adding that delegations from 25 countries attended this conference that is a strong positivity for Pakistan. This conference would give a strong message to the world that Pakistan is transforming towards development, she added.
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