Economic and industry experts have urged the titular government to maintain consistency in their fiscal and economic policies, while warning of any abrupt change that can undermine recent sectorial profits.
His reactions occurred in response to the Pakistan 2024-25 economic survey, presented by the Minister of Finance and Income Muhammad Aurengzeb before the federal budget.
When heading to a presierman at the launch of Economic Survey, a key document prior to the budget, the FINMIN revealed that the GDP of the country grew 2.7% with inflation in 4.6% in the outgoing fiscal year.
He pointed out that the economic recovery of Pakistan, which began after fiscal year 2023, won impulse in fiscal year 2024 and showed signs of consolidation in fiscal year 2025, indicating a change towards sustained stability and GDP growth. “The size of the economy exceeded the $ 400 billion brand for the first time, while per capita income increased to $ 1,824,” he added.
Talk about Geographical news Special transmission, experts emphasized that the current tax leverage of Pakistan must be directed to sustainable policies reforms instead of short-term relief, especially as the 2024-25 federal budget approaches.
The outstanding businessman Zubair Motiwala emphasized that Pakistan’s economic credibility has improved and must now be a strategically capital letter.
“We have created fiscal space through difficult measures, something we never had before. We should not waste it,” he said.
“I don’t think tomorrow’s budget is easy,” Motiwala added, noting that unresolved problems such as electricity, water scarcity and non -competitive gas prices continue to affect local industries.
“We need to seriously examine if production costs for national industries have been addressed,” he said. “Reducing tasks alone is not a recipe to increase exports.”
When commenting on taxes, economist Dr. Khaqan Najeb recommended incentives for retailers who use digital payment systems such as RAST.
“Raast retailers should be granted GST concessions,” he said, adding: “The Rast QR code is a good option. The government should also consider eliminating the ‘non -filter’ category.”
Meanwhile, Sajad Mustafa Syed, President P@Sha, highlighted the improved performance of the IT sector during the year, but warned against the volatility of politics.
“This year we have demonstrated progress in the IT sector … all we are asking for is consistency in fiscal policy. Any negative change could undo the profits we have achieved.”
Meanwhile, economist Ali Husnain was of the opinion that it was very important for Pakistan to undertake drastic reforms since the country faced regional competition.
When commenting on government policies, he said: “The management is correct, but we have not seen important steps that are considered to change the game … We need to do a lot.”
When explaining the reasons behind the fiscal deficit, the tax expert Ashfaq Tola said that the main problem was that the agricultural sector was paying less than 1% of taxes.
“The impact of the retail sector must be between 3% and 4% of GDP as an additional gain,” he said that the country has potential collections of more than 16,000 billion taxes if the tax was collected on the basis of capital.
Calling general performance in the agricultural sector, Tola accredited the stable exchange rate and the fall in world prices of basic products for the decrease in inflation rate.
He also warned against moving towards growth led by imports, saying that it will affect local industry and employment and increase pressure on the local currency. He added that importation must be opened for the export -based industry and import substitution.
