Advisor to Prime Minister on Finance Miftah Ismail said on Wednesday that his emphasis would be particularly on enhancing the country''s exports and economic growth. Miftah Ismail assumed the charge of the advisor of the Finance Ministry, a day after notification in this regard, and had informal interaction with the officials of Finance Ministry and Federal Board of Revenue (FBR).
Miftah Ismail stated that he has a firm resolve for further strengthening the economy and advancing the objective of sustainable and inclusive growth as envisioned by the party leadership. He said that efforts would be particularly focused on enhancing exports and increasing economic growth. He further stated that efforts will be made for broadening of tax base and lowering the tax rates, he said.
The advisor urged all concerned to work dedicatedly as a team towards achieving these objectives. Miftah will receive formal briefing about the working of various Divisions of the Ministry of Finance and its sub-ordinate offices shortly.
An official was of the view that growth in exports will be a major challenge for Ismail, besides limiting twin deficits - fiscal and current account.
The advisor during an interaction with the media a few weeks ago identified that twin deficits - budget and current account - are major challenges for the economy and stated that budget deficit would remain a problem as long as imbalances created by the 7th NFC award are not addressed.
He emphasized the need for revisiting distribution of resources from the divisible pool between the federal government and provinces as the federation needs to be strengthened in terms of resources. He also acknowledged the importance of empowering provinces financially but was of the view that it should not be at the cost of the federation.