HYDERABAD:Speakers at a webinar have said that stability and progress of the national economy depends on an efficient tax collection system based on justice and covering all income groups.They called for reducing non-development expenditures, increasing exports and reviving sick industries.
The webinar was organized by Pakistan Study Centre University of Sindh Jamshoro in collaboration with Islamia University Bahawalpur on Thursday, presided over by the Vice Chancellor University of Sindh Prof. Dr. Muhammad Siddique Kalhoro.
In his presidential remarks, the Vice Chancellor said that the webinar on tax reforms had raised participants’ understanding regarding tax-system and new initiatives taken by the government.
He said these initiatives will further contribute in improving the tax system and overall documentation linked with the economy.
He emphasized the need for supporting the industry by overcoming energy shortages, reducing finance costs and curbing inflation. “Policies for economic revival should be key features of the next budget”, he said. In his welcome address, the Director Pakistan Study Centre Professor Dr. Shuja Ahmed Mahesar said that the idea of organizing a webinar on tax reforms was aimed at enabling faculty members, students and employees belonging to Accounts and Finance Section to know about reforms and new changes introduced by the government. He emphasized the need of creating awareness about the importance of tax culture for the economy of the country and said that fair distribution of resources collected through taxes could reduce socio-economic disparities in the country. The guest speaker was Commissioner Inland Revenue Multan Naib Pathan who talked about the concept, history and purpose of tax collection.
He explained the government’s vision, legislation process and issues in administration pertaining to tax. He also highlighted the challenges faced by the federal board of revenue (FBR) during tax collections from the bigwigs and said that higher tax collection could only be achieved with a growing economy and similarly devaluation of the rupee alone could not help increase exports without broadening the industrial base. The commissioner said it was equally important to consolidate industrial activity for achieving growth in exports. The webinar was attended by Prof. Dr. Zareen Abbasi Dean Faculty of Social Science, Director Finance University of Sindh, Zain-ul-Abdein, Director Sindh Development Centre Prof. Dr. Shahabuddin Mughal and Chairman Department of Political Science Prof. Dr Musawar Bukhari. A large number of students from University of Sindh and Islamia University Bahawalpur also attended the online event.