Pakistan’s Finance Minister Asad Umar on Monday (April 8) during an event while comparing the economy to a patient in the ICU who had been treated and now brought back to a normal ward, said that there is no more economy crises in Pakistan as the country is out of the crisis phase.
“The crisis phase for the economy is over, however, we are still in the stabilisation phase,” Umar said during an event. “The situation right now is that we are not taking loans to pay off past loans, but to pay off interest.” “We are stuck with the fiscal deficit, current account deficit and saving and investment gap.”
Umar while talking about tax simplification, called on the Federal Board of Revenue (FBR) to simplify the tax return system with easier forms and lesser questions. “The amount of questions FBR asks you for your returns is more than those asked when you are accepting a marriage proposal for your daughter,” Umar said. “Instructions in Urdu will be available on the website. They will not be hidden in some drawer. We have to create transparency.”
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