Minister for Economic Affairs, Hamad Azhar has said that present government is trying to increase the Tax to GDP ratio from three to four percent by the end of this year. Talking to a private news channel, he said all out efforts are being made to reduce the current account deficit and fiscal deficit.
Hammad Azhar said the incumbent government had to borrow the loans for paying the interest on old loans taken by the previous governments. Replying to a question, the Minister said we have decided to avoid borrowing loans from the State Bank of Pakistan. To another question, Hammad Azhar said the previous governments of PPP and PML-N, borrowed heavy loans but they could not generate the resources for increasing the income.