ISLAMABAD, Jun 21 (APP): Senator Naseema Ehsan on Tuesday suggested the federal government to enact pension reforms and adopt ‘contributory pension’ system to reduce the fiscal stress on national exchequer as done in most of other countries.
Contributory pension systems are the most important forms for providing income support to elderly and old-aged people.
The federal government should also impose permanent ban on the import of luxury and non-essential items to curtail the rising import bill, the Senator said in an exclusive chat with APP on special measures to improve economy.
Meanwhile, Senator Naseema said the government should provide best opportunities to the local industries on the other side for alternate production of imported goods.
Shah said the government should utilize country’s resources including foreign loans to enhance production capabilities and not for the projects that appeared to be white elephants for the economy.
She stressed for evolving a comprehensive mechanism to regularize and provide legal cover to the business of petroleum products being imported from neighbouring country of Iran.
She said the delay in procurement of fuel from international market was also causing price hikes and the government should develop proper strategies to purchase oil when prices were low in the international market.
The government should expand tax net and make arrangements to bring more people in the tax base in order to enhance revenue and increase spending on uplifting the social sector.
She urged the government to create a business friendly environment by simplifying the taxation system and bring structural reforms.
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