{"id":99027,"date":"2024-09-07T10:00:00","date_gmt":"2024-09-07T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=99027"},"modified":"2024-09-06T11:34:06","modified_gmt":"2024-09-06T06:34:06","slug":"pbf-looks-tax-support-aid-economy","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pbf-looks-tax-support-aid-economy.html","title":{"rendered":"PBF calls for taxpayer support, recommends export diversification"},"content":{"rendered":"\n<p>Islamabad: The Pakistan Business Forum (PBF) has called on traders and shopkeepers to pay their taxes to support increased revenue collection and help stabilise the country\u2019s economy, reported a news source on September 6.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-retailers-still-tax-discussions.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR, retailers yet to agree on tax collection strategy<\/a><\/p>\n\n\n\n<p>According to the details, PBF President Khawaja Mehboob-ur-Rehman noted that although Pakistan&#8217;s tax revenue rose by 29% last year, the tax-to-GDP ratio remains at an unsustainable 8.8%, far below the recommended 15%.<\/p>\n\n\n\n<p>President Rehman also pointed out that inflation dropped to single digits in August, and he anticipated a reduction in the State Bank of Pakistan&#8217;s (SBP) policy rate. He emphasised the need for export diversification, with Pakistan\u2019s current reliance on textiles being too narrow.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/task-force-fbr-digital-space-circles.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to undergo digital revamp, new Task Force formed<\/a><\/p>\n\n\n\n<p>He recommended promoting value-added industries, investing in technology, and enhancing trade relations with emerging markets to reduce the trade deficit and build foreign reserves. Additionally, he urged the government to attract foreign direct investment (FDI) by improving political stability, infrastructure, and regulatory processes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Pakistan Business Forum (PBF) has called on traders and shopkeepers to pay their taxes to support increased revenue collection and help stabilise the country\u2019s economy, reported a news source on September 6. Read: FBR, retailers yet to agree on tax collection strategy According to the details, PBF President Khawaja Mehboob-ur-Rehman noted that although Pakistan&#8217;s tax revenue rose by 29% last year, the tax-to-GDP ratio remains at an unsustainable 8.8%, far below the recommended 15%. President Rehman also pointed out that inflation dropped to single digits in August, and he anticipated a reduction in the State Bank of Pakistan&#8217;s (SBP) policy rate. He emphasised the need for export diversification, with Pakistan\u2019s current reliance on textiles being too narrow. Read: FBR to undergo digital revamp, new Task Force formed He recommended promoting value-added industries, investing in technology, and enhancing trade relations with emerging markets to reduce the trade deficit and build foreign reserves. Additionally, he urged the government to attract foreign direct investment (FDI) by improving political stability, infrastructure, and regulatory processes.<\/p>\n","protected":false},"author":88,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15019],"tags":[59290,59291],"persona":[],"class_list":{"0":"post-99027","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-research-analysis","8":"tag-pakistan-business-forum-pbf","9":"tag-pakistan-business-forum-pbf-news-and-updates","10":"cat-15019-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PBF Looks for Tax Support to Aid Economy- Zameen News<\/title>\n<meta name=\"description\" content=\"PBF urges traders to pay taxes, aiding revenue collection and stabilizing the economy, per a news source. Read for more information\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pbf-looks-tax-support-aid-economy.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PBF Looks for Tax Support to Aid Economy- Zameen News\" \/>\n<meta property=\"og:description\" content=\"PBF urges traders to pay taxes, aiding revenue collection and stabilizing the economy, per a news source. 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