Undocumented business likely to be taxed

ISLAMABAD: The government was taking measures to bring undocumented businesses in the tax net so that illicit trading
may be discouraged.

This was stated by the Senior Federal Minister for Industries and Defence Production, Chaudhry Pervaiz Elahi, while talking to British Deputy High Commissioner, Francis Campbell here on Tuesday.

The minister said that there was a need to enhance cooperation between the two countries to capitalize the enormous business opportunities and tap the unexplored investment possibilities.

Pakistan is an emerging market and a developing country with a very vibrant middle class, which is a suitable ingredient for foreign investment, he added.

He urged the British investors to invest in Pakistan as it provides one of the best investment prospects in the region and assured for providing every possible facility to the investors.

Pervaiz Elahi appreciated the services of the Department for International Development UK in the field of education.

The minister said that he made education the pivot of his reforms and focused mainly on the primary education adding that 64,000 primary schools in Punjab were reformed and reduced the drop out rate.

This resulted in bringing 2.5 million dropouts back to school and a rise in the literacy rate from 42 percent to 62 percent which was a great achievement.

Francis Campbell said that the increase of trade between the two countries by 15% during last year was a healthy sign and augurs well for the future prospects.

He said that the British Trade Minister wants to enhance mutual trade upto $ 2.5 billion by 2015. (APP)