As the cash-strapped Pakistan navigates a tricky path to recovery, Federal Bureau of Revenue (FBR) Chairman Rashid Mahmood Langrial on Sunday stressed that the government should move towards economic growth “cautiously and gradually”, admitting the need to change taxation structure amid higher tax rate.
“If growth pressure did not calibrate in the right way, it will deteriorate…such understanding is present among the society and decision-makers that we have to move towards growth cautiously,” said Langrial who along with sector officials and an economist engaged in a candid conversation on economic challenges during Geo News’s special transmission titled: “Aakhri Mauqa: Pakistan Kay Liye Kar Dalo.”
Pakistan, currently bolstered by the International Monetary Fund’s (IMF) $7 billion Extended Fund Facility (EFF) secured in September 2024, is navigating a tricky path to recovery.
The South Asian nation narrowly averted a sovereign debt default, with reserves not sufficient enough to meet a month’s worth of controlled imports in 2023.
Its economy grew by a meagre 0.92% in the first quarter of the fiscal year.
Pakistan is looking to generate revenue by speeding up a privatisation push, but efforts to privatise the national flag carrier, Pakistan International Airlines, and outsource the capital’s airport have fallen flat.
In this context, Geo News has organised a programme “Aakhri Mauqa” with esteemed experts and government officials from the country participating in the discussion, titled “Pakistan Kay Liye Kar Dalo.”
The programme, which features FBR Chairman Langrial, brings together the country’s top economic experts and representatives from business leaders to engage in a candid conversation on economic challenges, tax policies, and public relief.
Key topics include Pakistan’s current economic situation, effective taxation strategies, relief measures for the public, and solutions to issues faced by the business community.
Prominent participants in the discussion include Arif Habib, chairman of Arif Habib Group, Lucky Cement CEO Muhammad Ali Tabba, Topline Securities CEO Muhammad Sohail and Pakistan Business Council CEO Ehsan Malik.
The programme is being hosted by senior journalist and analyst Shahzeb Khanzada, renowned for his bold and fact-based analyses.ย
This is a developing story and is being updated with further details.
