ADVERTISEMENT
Friday, August 1, 2025
No Result
View All Result
The AZB More Than Just News
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION
No Result
View All Result
Daily The Azb
No Result
View All Result
Home Headline

Tax collection above target, first time in 14 months large scale & power sector has grown, Finance Minister Shamshad Akhter.

News Desk
October 30, 2023
Tax collection above target, first time in 14 months large scale & power sector has grown, Finance Minister Shamshad Akhter.
Share on FacebookShare on Twitter
Advertisements

KARACHI – In a significant economic development, Pakistan’s tax collection has surpassed its targets,
and for the first time in 14 months, notable growth in the large-scale and power sectors is recorded.
Finance Minister Dr. Shamshad Akhtar shared these encouraging views during her address to
industrialists at the Korangi Association of Trade and Industry (KATI).
Dr. Shamshad Akhtar revealed that an International Monetary Fund (IMF) delegation is scheduled to
visit Pakistan on November 2nd, affirming that the IMF program remains on track. The government has
been diligently implementing measures aimed at bolstering the country’s economy, and upon the
receipt of the IMF tranche, further inflows from international financial institutions are anticipated.
At the event, KATI President Faraz-ur-Rehman emphasized the need for the government to extend relief
to the cottage industry while ensuring equal rights.
Minister Akhtar underscored that the current account is showing improvement due to the government’s
proactive initiatives, and she clarified that the State Bank, not the Ministry of Finance, determines the
interest rate. She expressed her awareness of the industry’s concerns and affirmed her commitment to
addressing industrialists’ grievances on all fronts.
The Finance Minister also disclosed that an economic recovery plan, as directed by the Prime Minister, is
in the works and will be executed in the near future. The plan includes efforts to activate the Export-
Import Bank, with the overarching goal of fostering sustainable growth led by the private sector. Small-
scale industries are seen as pivotal players in driving economic recovery.
Dr. Shamshad Akhtar proudly announced that, for the first time in 14 months, the large-scale and power
sectors have reported growth, and there have been positive developments in cement and tractor
production. The Pakistani Rupee has appreciated against the US Dollar in interbank markets, while law
enforcement agencies have been instrumental in curbing smuggling and illegal gambling.
Tax collection under the Federal Board of Revenue (FBR) has exceeded the IMF’s targets in the first
quarter. Furthermore, the government is actively introducing reforms for public sector institutions and
implementing programs of international financial institutions such as the World Bank. Reforms in the
stock exchange are also in progress to facilitate increased investment from the capital market.
KATI President Faraz-ur-Rehman expressed the need for equitable support to the cottage industry and
applauded the caretaker government’s handling of the country’s affairs during challenging times. The
government’s strong stance against gambling and smuggling was commended for its positive impact on
the economy.
Chairman FBR Amjad Tiwana highlighted ongoing reforms and restructuring efforts within the FBR and
measures to expand the tax base. Collaborative actions against tax defaulters, in partnership with
organizations like NADRA, have yielded promising results, including agreements on digitization.

Abdul Rahman Waraich, Commissioner of the Securities and Exchange Commission of Pakistan (SECP),
stressed the importance of understanding why small companies do not progress into larger entities and
why certain companies do not secure listings on the stock exchange. He emphasized that increased
economic activities will naturally lead to higher revenues.
In closing, Standing Committee Chairman Tariq Malik highlighted Korangi’s significant contribution to
government revenue, and the event featured addresses from other prominent figures, including Zahid
Saeed, CEO of KITE Limited, and former president Masood Naqi.

Advertisements
Advertisements
News Desk

News Desk

Welcome to our web desk! We're a dedicated team of digital enthusiasts passionate about delivering timely and engaging content to our online audience.

Related Posts

IBA Karachi: Powering the Future with Green
Headline

FBR imposes Rs111 billion in fines on fake solar panel importers involved in money laundering

July 31, 2025
Kareena And Saif
Headline

Mubasher Lucman Alleges Kareena Kapoor Behind Saif Ali Khan’s Knife Attack Over Infidelity

July 31, 2025
Saba Qamar Hospitalized After Sudden Health Scare on Set
Headline

Saba Qamar Hospitalized After Sudden Health Scare on Set

July 31, 2025
Moonis Alvi Breaks Silence After Verdict, Vows to Pursue Truth Through Legal Channels
Headline

Moonis Alvi Breaks Silence After Verdict, Vows to Pursue Truth Through Legal Channels

July 31, 2025
SIUT TEAM PERFORMS SUCCESSFUL DECEASED ORGAN TRANSPLANT
Headline

SIUT TEAM PERFORMS SUCCESSFUL DECEASED ORGAN TRANSPLANT

July 31, 2025
Tamasha secures exclusive digital streaming rights for Asia Cup till 2027
Headline

Tamasha secures exclusive digital streaming rights for Asia Cup till 2027

July 31, 2025
A professor at Sindh Madressatul Islam University turned out to be a defaulter of a previous institution, revealing that facts were hidden at the time of appointment.
Business

A professor at Sindh Madressatul Islam University turned out to be a defaulter of a previous institution, revealing that facts were hidden at the time of appointment.

July 31, 2025
Bank Alfalah announces its results for 1H-2025
BANKING

Bank Alfalah announces its results for 1H-2025

July 31, 2025
Honor for Dr.Heeralal Lohano
Headline

Honor for Dr.Heeralal Lohano

July 31, 2025
ICMAP Proposes SBP–MoF Coordination Council to align Economic Policy
Business

ICMAP Proposes SBP–MoF Coordination Council to align Economic Policy

July 31, 2025
Next Post
Mobilink Bank signs MoU with HRSG to provide premium financial services to their employees.

Mobilink Bank signs MoU with HRSG to provide premium financial services to their employees.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


Most Popular

PM Youth Laptop Scheme 2025: HEC Releases Merit List – Check Your Eligibility Online Now!

Reckitt Benckiser (RB) & partners to revolutionize access of health & hygiene across 1 million rural households, backed by the UK Government

Mehwish Salman Ali Elected President of CxO Global Forum USA Chapter

Hisaar Foundation at the UN

UIC permitted to resume guarantee business amid legal review.

Must Read

Allama Muhammad Ahsan Siddiqui called on Prof. Dr Qibla Ayaz
Headline

Allama Muhammad Ahsan Siddiqui called on Prof. Dr Qibla Ayaz

August 28, 2021
Chairperson MKP
Headline

Chairperson of MKP Corporate Group Organised Tribute Evening for Syed Sohail Ahmed Hashmi.

March 8, 2022
The Azb is a 24/7 online news platform that covers a wide range of topics including business, economics, technology, finance, travel, fashion, and lifestyle.

Quick Links

  • Home
  • About us
  • SCI-TECH
  • Live TV
  • Banking

Useful Links

  • Videos
  • Reviews
  • Advertorial
  • Photos
  • About us
  • Author
  • Home
  • Latest News
  • Partner
  • Privacy Policy
  • Russian Theatre Group Celebrates Fifth Anniversary in Pakistan.
  • Terms and Conditions
  • The Azb – More Than Just News
  • Contact

© Copyright 2024 theazb. All Rights Reserved.

No Result
View All Result
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION

© Copyright 2024 theazb. All Rights Reserved.