The Finance Minister Ishaq Dar stated that from 1st July 2015, the Computerized National Identity Card (CNIC) number will be treated as the National Tax Number (NTN) for the individuals. The minister was addressing the members of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). He further added, that the macro-economic stabilization achieved recently by the country will soon be transformed into economic growth through the focused approach of the government.
Ishaq Dar stated that Pakistan in 2012 was declared macro-economically destable by the Asian Development Banl and the International Bank for Reconciliation and Development (IBRD). The IBRD was monitoring its activities for the lack of trust. The PML-N’s government focused on energy, terrorism, economy and social sectors after coming to power which has led to macro-economic stabilization within 20 months to achieve economic growth.
Ishaq Dar said that his government introduced six home-grown reforms which helped the country move from unstable economic situation to stable by recording 4.1 per cent GDP growth in 20 months from 3pc of last year. There is substantial growth of 3pc in tax collection and the foreign exchange reserves have increased over 16 billion dollars. The minister said that ease of doing business index will be developed but business community should cooperate and give its input.