‘Exports, exports and exports’ key to prosperity: Shaukat Tarin

ISLAMABAD: Finance Minister Shaukat Tarin has ruled out raising the electricity tariff in the forthcoming budget and said “exports, exports and exports” were the key to the country’s economic prosperity.

“Prime Minister Imran Khan has given the commitment that there will be no increase in electricity tariff in the near future,” he said at a budget webinar here on Sunday.

He said the government has a progressive plan for the development of the agriculture sector. Enhancing its productivity will also help check the prices of food items, Tarin was quoted as saying by state-run Radio Pakistan.

He said the government has figured out a plan to enhance revenues. Agriculture, industries, information technology and service sectors will be incentivised in the next budget to enhance their productivity.

The finance minister said the tax rates would not be increased for those who already pay taxes. He also expressed the confidence that the tax collection will reach 5.8 trillion rupees next year. He said technology will be used to achieve the target “without any coercion”.

Tarin said the power sector will be stabilised and innovative ways will be used to reduce the ballooning circular debt. The finance minister reaffirmed the government’s commitment to put the country on the path of inclusive and sustainable growth.

He said the Economic Advisory Council comprising eminent economists has been tasked with the responsibility to prepare short, medium and long term plans for various sectors including agriculture, manufacturing, power, and housing etc.

On the development side, Tarin said the Public Sector Development Programme allocation will be increased to 900 billion rupees in the next fiscal year from the current year’s 650 billion rupees. He also said private sector will also be included in the development process.