December 07, 2018
Government Announces to Form a New National Tax Agency
Minister of State for Revenue Hammad Azhar announcCONTINUE READING
While talking to the stakeholders’ delegation the Finance Minister Asad Umer stated that the next IMF deal is going to be Pakistan’s last one. On Saturday, he made stockholders assured that the government is trying to put its best foot forward to put Pakistan’s economic situation on track, for which some measures have already been taken under consideration.
Asad Umer also stated that to improve the performance of the stock market some collective measures should also be taken. The Finance Minister added that he wants to set up a meeting with stockbrokers to make sure the government’s contribution to the betterment of the capital market. The position of the stock market is directly related to the health of the country’s economy so, if we want to see the growth in the market, we must work hard on Pakistan’s economic growth.
To defend his policies, The Finance Minister said that it is important to save Rs 210 million because Pakistan is indulging in bankruptcy. Currently, Pakistan is facing the deficit of $18 billion and need do $9 billion of debt repayment, which is unaffordable, he added. While predicting the economic growth, Asad Umer said, in 3 years we will reach our breakeven point and after that, we all are going to witness an increase in growth rate.
On the other hand, the famous stock-king Mr Aqeel Karim Dhedhi showed his trust in the policies of the current Finance Minister. While talking about the current economic situation, Aqeel Karim Dhedhi said that with the expert team of economist and his abilities Asad Umer will be able to save the sinking ship of Pakistan’s economy.
However, the decision of taking a loan from IMF raised many eyebrows and concerns. Famous business tycoon Aqeel Karim Dhedhi also said that if a government will take a loan from IMF the investors will take out their investments from the stock exchange which further results in the devaluation of Pakistan’s currency.