Federal Minister for Planning, Development and Reform Makhdoom Khusro Bakhtyar has said that the government is working on a robust economic plan to introduce structural economic reforms to bring Pakistan among the middle income countries in the long term.
He said that improving tax administration, encouraging financial institutions to expand the range of savings and investment instruments, reducing the procedures, cost and time associated with investing, improving management practices and supporting technology extensions would bring about economic turnaround for the country.
The minister was talking to Country Director, World Bank, Mr. Patchamuthu Illangovan who along-with a delegation called on him today at Islamabad.
Secretary Planning Zafar Hasan, Member Infrastructure Malik Ahmed Khan, Project Director CPEC Hassan Daud Butt and senior officials of the Ministry were also present in the meeting.
The minister stated government offers friendly investment policies and Pakistan is emerging as one of the attractive destinations for foreign investment.
He said that efforts were underway to improve governance with a particular focus on e-governance in order to enhance productivity. He underlined the need to streamline the PC-1 preparation process for efficient planning and designing of projects.
The minister stressed on immediate need to enhance the tax revenues to 20% of GDP and simultaneously increase the domestic savings rate to 20% of GDP.
Mobile phone services face disruption in some areas of port city
No power in world can damage bilateral relations between Islamabad and Tehran, says Raisi
The majestic animal, which is elusive in nature, is rarely sighted in this area
PTI chief also makes claims about "late night arrival" of an ambulance and relevant information being kept secret
Killed terrorists were also involved in attacks on security forces, target killing and extortion, CTD says
Discussion between dignitaries focused on matters of mutual interest, notably regional peace, stability and border...