Pakistan economy gathering steam, but vulnerability persists, says SAPM

Special Assistant to the Prime Minister for Revenue Dr. Waqar Masood Khan has said that Pakistan’s economy has just started to pick up steam and needs more time to improve.

Talking to a private channel, Masood said that the International Monetary Forum (IMF) has been told that Pakistan needs a program and our issues due to COVID-19 pandemic should be understood, so the IMF review mission will visit Pakistan soon.

He said that it remains to be decided whether the IMF review mission would visit Pakistan or conduct a virtual review.

The Special Assistant said that Pakistan’s economy has just started to flourish and the economy needs more time to improve. Masood informed that Pakistan’s economy can pay Rs 13,000 billion in taxes annually but things could improve even if we are able to collect only Rs 9,000 billion in taxes annually.

He added that completing the reform process in the Federal Board of Revenue (FBR) is the first priority of the government while all kinds of buying and selling information have been obtained by the FBR with the help of technology.

It is pertinent to mention that back in October Prime Minister appointed former secretary finance, Dr Waqar Masood Khan, as Special Assistant to the Prime Minister on Revenue with the status of Minister of States. On July 27, 2020, Waqar Masood was appointed head of the newly-created “Subsidies Cell” to make the allocated subsidies for various sectors targeted.