Islamabad: Minister for Finance, Dr. Abdul Hafeez Sheikh on Tuesday said that the government was quite serious to reform the taxation system to increase its revenue.
He said enhancing the capacity of tax collection was the need of the hour, he added.
He said even in the western world there is not a 100 percent tax collection but the measures being adopted are aimed at improving the collection.
In a programme on private news channel, the Minister said there is no option other than paying taxes which is important to run government affairs effectively and to improve living standard of masses.
He said in the reforms process of tax system documentation is being prioritized.
Replying to a question regarding low tax collection, he said, “We have a weak machinery of collection, we have corruption, we do not have technology and it is a combination of things.”
He said a committee constituted to prepare recommendations for improving financial affairs is working while taking all parties on board. The committee has already held meetings with PML (N), ANP, MQM, representatives of FATA and at the same time with small parties.
Dr. Sheikh said there was also a need for evolving long term economic policy and controlling our expenditures as well as increasing revenue for facilitating the masses.
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