The number of tax filers has doubled from last year’s 1.6 million to 3.2 million till date whereas 723,000 new filers have registered themselves, Finance Minister Muhammad Aurangzeb said on Sunday.
Addressing a press conference in Islamabad, the finance czar added that the credit ratings have gone forward, and “we will continue this journey till we get into investment grade at least into B or B- ratings as we go forward”.
In addition, he said, the terms non-filers and under-filers have been abolished, adding that around Rs1.3 trillion estimated tax evasion is done.
He reiterated the government’s commitment to reducing the size of the federal government, adding decision regarding the abolition or merger of six ministries has already been made and was at the implementation stage aiming at reducing federal expenditures.
“Out of six, there is one ministry [Capital Authority] that is being abolished”. He said, that after this process is over, the next five ministries would be taken for the process.
“If Pakistan wanted to be included in G20, it has to document its economy and do away with the cash economy,” he said. “The country’s economy stands at $700 plus currently however it is shown only $325 billion.”
