Finance Minister Muhammad Aurangzeb on Wednesday admitted that some companies are leaving the nation on account of excessive taxes and costly power, stressing that the federal government is absolutely conscious of the challenges dealing with the financial system.
Nevertheless, the finance minister stated there are 20 new overseas buyers together with Google, Aramco, Wafi Vitality, Turkishm petroleum and others entered Pakistani market within the final 18 months.
“There are companies that are additionally leaving that’s true..if the taxation is excessive or the power price is excessive or its financing price is all the time shifting in the correct course these have been actual points,” he stated whereas addressing the Pakistan Coverage Dialogue in Islamabad.
The finance minister stated that top taxes and excessive power price stay “actual drawback for companies,” including that the federal government has begun reforms to cut back the burden on the nationwide exchequer and convey financial stability.
Aurangzeb stated that structural reforms are underway throughout the nation and that the transformation strategy of the Federal Board of Income (FBR) is continuous.
“Compliance and enforcement are important to make sure implementation of tax legal guidelines,” he added.
It is a growing story and is being up to date with additional particulars.
