Business community has hailed the Federal Board of Revenue (FBR) for achieving tax collection target and welcomed historic increase in foreign currency reserves. Chief Executive Trade Development Authority of Pakistan (TDAP) and patron in chief of Korangi Association of Trade and Industry (KATI), S M Muneer appreciated the FBR for achieving tax collection target and welcomed historic increase in foreign currency reserves.
Muneer said that this is a great achievement of Prime Minister Nawaz Sharif and his economic team specially Finance Minister Ishaq Dar. He said these are the positive indicators of stability in country's economy and will be helpful to attract more investments. President KATI Zahid Saeed said that for maintaining and enlarging tax net, regular tax payer should be benefited and newcomers too.
Acting President of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Sheikh Khalid Tawab referring to the Federal Bureau of Statistics (FBS) has felicitated the Federal Finance Minister Senator Ishaq Dar and Nisar Muhammad Khan, Chairman FBR showing the annual average inflation rate more than expected in the fiscal year 2015-16 by slashing it below 3 percent for the first time in the last 46 years old history of inflation in Pakistan.
The acting president of FPCCI appreciating the untiring efforts made by the team of economic managers under the guidance of the Finance Minister said, "The economic policy of the government initiated in 2013 made wide improvement in macro-economic indicators including lowest inflation rate in more than last 4 decades; highest foreign exchange reserves $23 billion - in the history of Pakistan; stable exchange rate and contained fiscal deficit have set the foundation for a higher and sustained economic growth."
Sheikh Khalid Tawab hoped that the higher growth rate of 5.7 percent as envisaged by the government in the FY 2017 as against 4.7 percent recorded last fiscal year (FY 2016) would be achieved with the recovery in the agriculture sector and further acceleration in industrial growth.