Good economic policies ensure strong national economy: Hafeez Shaikh

KARACHI: Good economic policies ensure a strong national economy, Prime Minister’s Adviser on Finance Abdul Hafeez Shaikh here said.

According to ARY News, the adviser was addressing a gathering of the Council of Foreign Relations in Karachi.

Chairman FBR Shabbar Zaidi was also present in the gathering.

The governments in the past failed to devise the policies for lasting economic development, the finance adviser said.

The previous government also didn’t accord attention to to enhance trade and exports, Shaikh said.

He highlighted the need of economic reforms, adding that the government is trying to minimize the period of hardship.

He said Pakistan’s major institutions have come forward to help the national economy.

Chairman Federal Board of Revenue (FBR) in his address to the gathering pointed out presence of vested interests in the agriculture sector.

He said the government has enhaced tax on thousands middlemen in agriculture sector. He said the tax on middlemen has been increased by ten-fold from existing Rs. 10,000 to 100,000 rupees.

The government will not impose tax on anyone above the bearable level, Shabbar Zaidi said.

He said, the constitution accords responsibility to the province to receive agriculture tax.

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