'Stability of economy depends on efficient tax collection system'

SUKKUR: Speakers at a webinar said on Thursday that stability and progress of the national economy depends on an efficient tax collection system based on justice and covering all income groups. They called for reducing non-development expenditures, increasing exports and reviving sick industries.

The webinar, organised by the Sindh University's Pakistan Study Centre in collaboration with the Islamia University Bahawalpur, was presided over by Vice Chancellor University of Sindh Professor Dr Muhammad Siddique Kalhoro.

In his remarks, the vice chancellor said the webinar on tax reforms had raised the participants' understanding regarding the tax system and the new initiatives taken by the government. He said these initiatives will further contribute to improving the tax system and the overall documentation linked with the economy.

He stressed on the need for supporting the industry by overcoming energy shortages, reducing financial costs and curbing inflation. "Policies for the economic revival should be key features of the next budget," he said.

In his welcome address, Director Pakistan Study Centre Professor Dr Shuja Ahmed Mahesar said that the idea of organising a webinar on tax reforms was aimed at enabling faculty members, students and employees belonging to the Accounts and Finance Section to know about reforms and new changes introduced by the government.

He stressed on the need to create an awareness about the importance of tax culture for economy of the country, adding fair distribution of resources collected through taxes could reduce socio-economic disparities in the country.