LAHORE, Mar 01 (APP):Federal Minister for Industries and Production Khusro Bakhtiar on Tuesday said that the incumbent government was introducing long term policies primarily for sustainable economic growth in the country, while maintaining that PTI led government was least focused on elections-related returns or benefits.
Addressing a ceremony at Governor’s House, here he said that enhancing manufacturing base was of vital importance to achieve sustainable goals ,adding that the government’s long term policies will help achieve the targets.
He said that various incentives were announced by Prime Minister Imran Khan on Monday under an industrial promotion package which would provide impetus to economic growth and prosperity.
The minister highlighted that the nation has widely hailed Prime Minister’s address in which he announced measures to provide relief to the masses, whereas the opposition parties went into ‘mourning’ on such positive developments .
He said that the country had been facing many financial challenges including current account deficit, balance of payments, imports and foreign loan etc, however,with concerted efforts and right policies the country passed through the tough period. He said the economy was on the right track ,which would lead to progress and development.
Khusro Bakhtiar said the country’s growth rate was increasing due to prudent policies of present government.
He highlighted that huge incentives have been announced by the government which would usher in an era of industrial revolution, besides increasing exports volume.
“Tax collection has reached almost Rs 6000 billion from 3800 billion which is a record”, he said, adding the government was taking steps to reduce tax burden on common man, besides increasing tax net.
He added that tax exemptions have been announced for various sectors including Information Technology, small and medium enterprises, overseas Pakistanis and others.
Federal minister said the government set a target of 30 billion dollars worth exports of the country, and was hopeful that the target set for economic growth would also surpass.
The minister said that overseas Pakistanis were an asset and government was taking measures for facilitating them in all ways. He urged them to invest in the country and benefit from five-year tax holiday being offered to promote industrial activities as well as job creation.
Federal minister said the government’s measures have put the country on right track and its policies would ensure economic growth and stability.
