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Pakistan to amend budget to make it more relevant: FM Asad Umer

Asad Umer

Islamabad, Sep 12 (UITV/IANS) -  Pakistan's Finance Minister Asad Umer said on Tuesday that the new government will soon introduce changes to the Federal Budget 2018-19 to make it more relevant to the current state of the national economy.

Talking to a delegation of the Overseas Investors Chamber of Commerce and Industry in Islamabad on Tuesday, Umer said that the amendments would also be in line with the new government's economic vision, Xinhua news agency reported.

The Finance Minister further stated that the government wanted a long-term solution to the budget and trade deficits. The key to the problem lies in promoting manufacturing industry and in creating jobs for the youth, he said, adding that this is the area where the overseas chamber could lead the way and assist the Pakistani government.

Umer also hinted at setting up a Business Advisory Council to stay in touch with the business community. He stated that the government was holding consultations for establishing the Business Advisory Council which would function as a liaison between the government and business community to turn the country into a regional hub for investors.

The minister said that it was his vision to put into place the latest technology in the tax system to cut down hassles and bring in greater transparency to the system.

Asad Umer said that the government was firm on its commitment to solving the crucial structural issues of the Pakistani economy. He assured the delegation of his all-out support in improving the business climate in the country.