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Digital transaction helps to strengthen economy: President Alvi

ISLAMABAD: President Dr Arif Alvi today (Monday) asserted that digital transactions not only ensures facilitation but also helps to strengthen the economy and its documentation.

“Digital transaction will play a key role in widening the tax base, increasing Special Economic Zones and encouraging entrepreneurship through small and medium enterprises, he said while addressing the soft launch ceremony of Financial Pakistan Expo 2020.

On the occasion, the President emphasized the elimination of corruption, enhancing efficiency, governance, and taking care of the poor for the development and progress of the country. “A common consumer women empowerment should be the special focus of digital economy without which no society can progress,” he maintained.

President Alvi pointed out that the country’s poor class has soared due to the inclusive approach adopted by the government through the provision of massive subsidies amid the COVID-19 pandemic. He, however, stressed the need to end inequalities in health and education sectors.

He further said that the PTI-led government has almost fulfilled its promises to revamp Pakistan’s economy. The President also appealed to strictly follow the standard operating procedures (SOPs) to prevent the spread of the pandemic.

Speaking on the occasion, Finance Adviser Dr. Abdul Hafeez Sheikh maintained that the country’s economy was now stable and moving forward due to bold steps of the government and economic indicators are encouraging.

He pointed out that when PTI government came to power, it inherited a huge debt and this government has made repayment of 5000 billion rupees. “The government is also working on reducing expenditures as after many years while the primary deficit had been turned into a surplus,” he added.