Punjab Finance Minister Mohsin Laghari has said the provincial government plans to introduce tax reforms to improve the management of public finance for the better utilization of limited revenues. He said that all relevant stakeholders will be taken onboard to make sure that there is consistency in policy and actual demand on the ground.

The minister was speaking at the inauguration ceremony of the private steel mills. He said that the country was facing a lot of problems and challenges. These challenges were only going to get bigger in the future. One of the most pressing issues that he pointed out was the population growth. “Our population is growing without a concomitant increase in the capacity of our state to make ends meet. This is not an optimistic outlook and we must do our best to pull ourselves out of this vicious circle.”

He highlighted the efforts of the Punjab government to improve the economic conditions for businesses and traders. He said that the “provincial government was trying its best to make sure that the national economy stays on track through the contributions of businessmen, industrialists, and agriculture into the national economy. All government departments are working at full capacity and all frozen funds have been unfrozen for state projects to start and continue.”

He also said that “Pakistan needs to capitalize on its unskilled and skilled labour by sending them into the foreign markets. This will ease a lot of pressure from the local markets and also earn precious foreign exchange for the country. This will help the country in these times of turbulent economy.”

He appreciated the efforts of the private sector to revive the steel and iron industry of the country. He said the steel and iron industry will contribute towards the growth of industry and help create more jobs.

Punjab Finance Minister Mohsin Laghari also mentioned that the role of private sector was key for the economic development of any country. He said that the people should not put national interest behind to protect personal interest of political parties.

Laghari said that Pakistan needed humans, not robots, for national stability and national development as machines without feelings do not guarantee progress.

Credit : Independent News Pakistan-WealthPk