logo
Target to achieve $60bn in exports over next 5 years: Ahsan

Target to achieve $60bn in exports over next 5 years: Ahsan

ISLAMAABD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said the government's target is to achieve $60 billion in exports over the next five years.
While addressing a meeting of National Assembly Standing Committee on Planning, the minister said, 'If we work with dedication, the dream of a $3 trillion economy by 2047 can become a reality.'
The committee met with Syed Abdul Qadir Gillani in the chair in the auditorium of the Ministry of Planning, Development and Special Initiatives, Islamabad on Friday.
He said that for the first time in the country's history, Rs1 trillion have been spent on PSDP (Public Sector Development Programme) projects. He said that a clear roadmap for 'Uraan Pakistan' (Pakistan's Ascent) to tackle the challenges the country faces.
He said that political stability and continuity of policies are essential for the completion of development projects. He said that a long-term integrated policy and a conducive environment are fundamental requirements for development.
The minister said that 'everyone must work for the country's economic growth, rising above political affiliations.' He said the Ministry of Planning has identified five solid pillars for sustainable economic growth.
The minister gave the committee an overview of Uraan Pakistan — the National Transformation Plan 2025–2030. He noted that earlier national five-year plans succeeded due to political continuity, unlike the present scenario, where frequent democratic disruptions have hindered progress. He emphasised that even the best ideas require a stable and enabling environment to flourish.
The minister highlighted Pakistan's economic turnaround since 2022, stating that inflation had been brought down from double to single digits. He elaborated on the government's strategic focus on the 'Five Es': Exports, E-Commerce, Energy, Environment, and Ethics — underlining them as critical pillars of the transformation agenda.
He said that under the second pillar of the 'Five Es,' projects involving modern technology are being pursued.
He said that under the 'Five Es,' the completion of water projects, in light of climate challenges, is a government priority. He said that the completion of the Diamer-Bhasha Dam is among the government's top priorities.
He said that the government's aim is to ensure the supply of affordable and reliable energy. Under the fifth pillar of the 'Five Es,' the government is focusing particularly on human resource development, said the federal minister.
'After the 18th Constitutional Amendment, most departments have been devolved to the provinces, but centralisation of powers within the provinces has undermined its spirit. There should be a national dialogue on empowering local governments or creating new provinces to make Pakistan's administrative structure more effective,' said the federal minister.
He said that controlling population growth is a national emergency and for this purpose, a National Task Force is being established.
He said that just as we defeated India in 'Operation Bunyanum Marsoos,' we will achieve supremacy in the economic field with the same determination.
The minister said that the government has achieved significant success in controlling inflation. He said that climate change has created new challenges for the national economy.
The committee commenced with a follow-up discussion on the tragic Multan LPG tanker blast of January 2025. The committee raised serious concerns over the inquiry process and the distribution of compensation packages, particularly questioning why the elected member of the National Assembly was not consulted throughout the process. The committee recommended a reinvestigation into the incident.
Chairperson Syed Abdul Qadir Gillani expressed his resolve to pursue the matter across all relevant forums, vowing to ensure accountability and prevent future tragedies. The committee called for a comprehensive briefing on the case.
The meeting was attended by Committee Members Naz Baloch, Muhammad Moazzam Ali Khan, Farhan Chishti, Akhtar Bibi, Dawar Khan Kundi, and Yousaf Khan. Senior officials from the Ministry of Planning, Finance Division, OGRA, and other relevant departments were also present.
Copyright Business Recorder, 2025
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Definition of ‘Tax fraud' & procedure for ‘arrest': There will be no amendment in Act: MoS
Definition of ‘Tax fraud' & procedure for ‘arrest': There will be no amendment in Act: MoS

Business Recorder

time18 hours ago

  • Business Recorder

Definition of ‘Tax fraud' & procedure for ‘arrest': There will be no amendment in Act: MoS

ISLAMABAD: Minister of State for Finance, Bilal Azhar Kayani Thursday said the government will not amend Finance Act 2025 to further change definition of tax fraud or procedure for arrest, but the Federal Board of Revenue (FBR) will issue sales tax explanatory circular to address all concerns of the business community. Kayani informed Senate Standing Committee on Finance on Thursday that the prime minister has strictly directed the FBR not to harass the taxpayers, particularly, business and trade. After detailed meetings with the federation and chambers, the government has started internal homework to resolve these issues. 'I will not share specific details as we are in IMF programme. However, all concerns of the business community will be addressed', he said. We have given assurance to the business community that it is our responsibility that the law should not be misused by the tax officials. There is a misunderstanding that law of arrest of tax evaders is a new law, he maintained. Finance Act expands definition of tax fraud Presidents of chambers of commerce and industries are well aware of the developments. A committee has also been formed to resolve issues in 30 days' period, he said. President Karachi Chamber of Commerce and Industry (KCCI) Muhammad Jawed Bilwani requested the committee to abolish clause 9 of the Section 37A (power to inquire, investigate offences warranting prosecution under this Act and arrest of a person). The arrest of taxpayer on the basis of 'suspicion' has also been challenged by Bilwani. However, committee members insisted that ample safeguards have been placed to check any misuse of the powers of the tax officials. In case of 'suspicion', there should be definite information of tax fraud for arresting the accused person, they said. Minister of State for Finance stated that there is some kind of misunderstanding between the FBR and business community. The government has placed additional safeguards in Finance Act 2025 to ensure that arrest powers should not be misused. Earlier, arrests were made by officials of the level of Additional Commissioners and now a committee comprising of senior FBR Members will give approval of the arrests. Bilal Azhar Kayani stated that it has also been decided to convene monthly meeting with the business community to review impact of the law on the businessmen. FBR Member (Inland Revenue - Operations) Dr Hamid Ateeq Sarwar said that Finance Act 2025 should not be amended at this early stage of promulgation. We should not create any embarrassment for the Parliament and it would not be appropriate to suddenly change the sales tax law after promulgation of the Finance Act 2025. He said that the purpose of the law is to take action against those involved in fraudulent business of fake/flying invoices. In 2024-25, the FBR prevented revenue loss of Rs837 billion on account of fake invoices. In 2023-24, tax fraud of Rs1,373 billion was prevented. The FBR Member said that the FBR has addressed all concerns of the business community through a sales tax circular. The FBR will clarify that arrest would not be made without clear evidence against the taxpayer. This issue will also be clarified through the circular. The FBR has also consisted Grievance Redressal Committee to address issues of the business community. If any tax officer has made a wrong case against the taxpayer, he would be punished. He dispelled impression that the FBR do not take action against the corrupt tax officials. 'You just simply go through the FBR website (Admin Wing-HRMS), the numbers of tax officials penalized has been made public.' The FBR Member said that both the Senate and National Assembly Standing Committees on Finance read clause by clause the entire Finance Bill and also proposed comprehensive changes in the sales tax law. Due to limited time, there were apprehensions that the anomy committee has not serious considered the issues of stakeholders. The business community has not been targeted in any way through Finance Act 2025. The responsibility to prove tax fraud has now been placed on the FBR, he said. Let the law come into effect as significant improvement in the law has been made to facilitate the business community, the FBR Member added. Chairman of the Finance committee said that the government has no intention to victimise business community. If the FBR's clarification is acceptable to business community then the law should remain in force for 2025-26. There is no need to amend Finance Act 2025 in case all issues are addressed by the FBR. Representative of the Faisalabad chamber of commerce and industry observed that we are not afraid of the law of arrest but we are concerned about the blackmailing by the tax officers in the field formations. Copyright Business Recorder, 2025

Govt mulls civil service reforms
Govt mulls civil service reforms

Express Tribune

time19 hours ago

  • Express Tribune

Govt mulls civil service reforms

Prime Minister Shehbaz Sharif chairs a review meeting on Hajj arrangements for the upcoming year in Islamabad on Saturday, June 21, 2025. Photo courtesy: Radio Pakistan Prime Minister Shehbaz Sharif has set up another committee to further finetune recommendations to shake up the existing civil service structure, as proposals have been made to introduce national executive service at the top tier and sign five-year contracts with sector experts. Planning Minister Ahsan Iqbal on Thursday presented his final proposals to Shehbaz Sharif for civil service reforms in Pakistan. There has been a growing realisation in the top civil and military leadership that the current civil service has failed to live up to the challenges and even interventions like the Special Investment Facilitation Council (SIFC) could not do much due to outdated systems. The premier discussed the proposals with a large number of his cabinet ministers, senior bureaucrats and sector experts. The prime minister decided to constitute another committee under the chairmanship of the minister for planning to develop recommendations for aligning the civil services with modern-day requirements and improving the civil service structure, according to a press statement issued by his office. The planning ministry presented recommendations in seven broader areas, starting from recruitment, training, institutional capacity, the specialization and the monetary compensation of the modern civil service. Compared to the civilian structure, the army's structure of the service is considered superior and more result oriented. The army's structure remains a pyramid with 100% being promoted to Major, 64% to Lt Col, 11% to Brigadier and only 5% to Maj Gen, according to the presentation given to the prime minister. The planning ministry raised seven questions for consideration, which revolved around choosing between rectangular structure and pyramid structure of the civil service. Other options were to go for outcomes-oriented high quality training and providing mid-career inclusions in the civil service. Many of the participants of the meeting were inclined to cluster-based recruitment where the individuals will be hired against three broader categories, general, financial sector and information group. To build the consensus and incorporate the feedback of the meeting, Shehbaz Sharif tasked Ahsan Iqbal to present a final set of recommendations in one month. The prime minister directed to develop recommendations regarding merit-based recruitment of top talent, development of Key performance indicator-based performance targets for promotions, and improvement of the ACR (Annual Confidential Report) system and suggestions for effective alternatives, according to the press statement. The recommendations should also include a plan to enhance officers' capacity through modern technology and systems, he said. He said reforms that aimed to simplify the lives of ordinary citizens and make the civil service more people-friendly were among the top priorities of the government.

Cabinet committee grants additional Rs12b for SSWMB
Cabinet committee grants additional Rs12b for SSWMB

Express Tribune

time21 hours ago

  • Express Tribune

Cabinet committee grants additional Rs12b for SSWMB

The Cabinet Committee on Finance, under the chairmanship of Energy, Development & Planning Minister Syed Nasir Hussain Shah and Interior & Law Minister Zia-ul-Hassan Lanjar, held a meeting of the Energy Department. During the meeting, the Sindh Solid Waste Management Board (SSWMB) presented a request for an additional budget for the fiscal year 2024-2025. After reviewing legal aspects of the request, committee members, in consultation with provincial ministers, approved a conditional out-of-budget grant of Rs12 billion for the SSWMB. It was also decided that the SSWMB will reassess all existing contracts with waste collection contractors, as the rates in Sindh were found to be higher than those in other cities. A proper system will be introduced to accurately measure the weight of garbage removed, and razor readers will be installed in all garbage collection vehicles. This will ensure that contractors are paid according to the actual weight of garbage transported, preventing the misuse of public funds.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store