| 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’s economy, reported a news source on September 6.
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According to the details, PBF President Khawaja Mehboob-ur-Rehman noted that although Pakistan’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’s (SBP) policy rate. He emphasised the need for export diversification, with Pakistan’s current reliance on textiles being too narrow.
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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. |
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