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Thursday, February 15, 2024

PTI govt collects highest revenue in history

Despite a record collection in revenue, there is a lot of room in the improvement of Federal Board of Revenue systems and processes. If government digitalizes and simplifies income tax returns, it can easily collect huge amounts amid growing economy.

Minister for Information and Broadcasting Chaudhry Fawad Hussain on Sunday said first time in the history of the country, a record Rs 4.143 trillion revenue had been collected during the current fiscal year so far.

The landmark achievement was made due to prudent economic policies of Pakistan Tehreek-e-Insaf (PTI) government led by Prime Minister Imran Khan.

In a series of tweets, Chaudhry Fawad said positive results of the economic policies of the incumbent government had started yielding results.

He said in this scenario, it’s a mind-boggling question that why the opposition was calling for protest demonstrations at a time when the economy was booming and the living conditions of common man were improving. “Who will be benefited from such negative politics”, he questioned.

The minister said, Pakistan People’s Party (PPP) and Pakistan Muslim League-Nawaz (PML-N) whenever came into power, had ruined the economy, resultantly the country endured an economic downturn.

Read more: Pakistan to post 4.5% GDP growth rate this year, claims Aqeel Karim

Fawad said expatriate Pakistanis have contributed immensely to economic revival by sending over Rs 1,000 billion to the country.

Likewise, he said, record production of wheat, rice, sugarcane, and maize have been recorded while Rs 1,100 billion had been transferred to the agriculture economy.

The transfer of money, he said, had increased purchasing power of the farmers’ community. Consequently, the sale of tractors had also increased by 64 percent. The use of fertilizer and pesticides also registered a significant increase, he said.

The minister added that at present Pakistani market was one of the best-performing markets in the world.

Read more: Pakistan’s exports increase in double numbers in last ten months!

Similarly, on May 27, the stock market had also set a new record touching the significant level of selling 2.21 billion shares.

Courtesy: APP