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Tax Reforms To Bring Down Fiscal Deficit

The Government is pursuing a strategy of revenue mobilization and expenditure rationalization to bring down the fiscal deficit to below four per cent to gross domestic product (GDP) during the current financial year. Under the strategy, the Government will further streamline the tax concessions and exemptions introduced under Statutory Regulatory Orders, reform the tax administration, focus tax compliance and establish the Tax Policy Research and Analysis Unit to raise tax to GDP ratio. The government will continue strengthening frameworks for the public debt and financial management by reducing energy subsidies and restructuring or privatizing the loss making Public Sector Enterprises. The Government is also committed to keep public debt to GDP ratio on a downward trajectory during the current fiscal year through effective fiscal and prudent debt management.

 Govt to Provide Rs78b for Various Development Projects In AJK

The Federal Government will provide seventy eight billion rupees for various ongoing and new development projects in Azad Jammu and Kashmir. Official sources told our Muzaffarabad correspondent Altaf Andrabi that these projects include Neelum-Jhelum Hydro Power project which is being made operational next year with generating capacity of 969MW electricity. Construction of Taobut-Muzaffarabad express way will not only boost tourism in Neelum Valley but also usher in an era of economic prosperity in the region. Other projects include water supply scheme Chaksawri Mirpur, women university Bagh, Medical colleges of Mirpur and Muzaffarabad and Construction of a new building of AJK Legislative Assembly.

 


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