Govt to announce measures for value addition in budget

ISLAMABAD (APP) - Prime Ministers Advisor on Finance Shaukat Tarin said on Wednesday that the government will announce measures for value addition, real exchange rates and reforms in other sectors in the budget 2009-10.
Talking to PTV, he said the government with the cooperation of masses would increase tax net in the coming days. He said more areas and people would be brought under tax net in the budget.
The budget having care of poor segment of society, measures for the growth of different sectors, step to control price hike can be called good one, he added. He said tax to GDP ratio and revenue generation was very low. Tax to GDP ration must be around 15 to 18 per cent for sustainable growth.
Shaukat Tarin said Federal Board of Revenue (FBR) needed both administrative and policy reforms to streamline revenue generation and collection. He said stabilization of economy was the top priority of the government and many measures have been announced in this regard. The Advisor said the government was giving due attention to agriculture and manufacturing sectors as these sectors have ability to create jobs opportunities.
He said, sizable amounts would also be allocated for poverty alleviation and others peoples welfare projects. The Advisor said the government would also announce measures to create more job opportunities as it will help alleviating poverty.
The budget will focus on agriculture, energy, and manufacturing sectors and to develop infrastructure. Measures will also be announced in the upcoming budget to encourage the IT section, he added.
He said electricity is cheaper in Pakistan as compared to China and India.
Tarin said the government will announce measures to further increase remittances.