BUSINESS

PTI finance minister designate Asad Umer hints at Pakistan’s economic policy

ISLAMABAD – PTI leader Asad Umar says the new government plans to decrease taxes on energy supply factories and agriculture to make businesses more competitive with regional countries.

In an interview with an international news service, Bloomberg, he said the move will help cover up the lost revenue by introducing a wealth tax.

Assad Umar said Pakistan could turn to the International Monetary Fund, friendly countries and issue diaspora bonds to bolster the country’s depleting reserves.

He said his party has not yet spoken to any potential lenders because no formal work can be started until the government is formed.

PTI leader said the new government will bring more transparency to more than 60 billion dollar Belt and Road infrastructure projects in Pakistan.

He said within the first 100 days of the new administration, the state-owned firms will be shifted into a wealth fund similar to Singapore’s Temasek Holdings Pvt. to remove them from political interference.

Categories: BUSINESS, PAKISTAN

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