LAHORE - Punjab Minister for Finance Tanveer Ashraf Kaira said Wednesday that the Punjab Finance Department would review and audit performance of all departments on quarterly basis in order to improve the utilization of ADP funds. He was addressing a Post Budget seminar organized by the Institute of Cost and Management Accountants of Pakistan (ICMAP). Syed Mahmood ul Hassan Dy. Collector Sales Tax Shahzad Azam Khan Member Executive Committee (LCCI), Prof. Dr. Khawaja Amjad Saeed Principal Hailey College of Banking & Finance, Zia ul Mustafa Awan Hon. Secretary Institute of Cost and Management Accountants of Pakistan (ICMAP), Shahzad Ahmad Awan Member National Council of ICMAP, Muhammad Imran Afzal Chairman Lahore Branch Council, Aamir Ijaz Khan chairman CPD Committee made presentations on the occasion. The Minister said the Post Budget Seminars play an important role in mobilizing public opinion to frame suggestions for assisting the Governments in change of national budgets. ICMAP has always been very active in this area. The suggestions put forward by the Cost and Management Accountants have usually proven very useful for us. I put on record my appreciation for the assistance provided by you as and when required. Pakistan has long been experiencing recessionary trends. Our cash strapped position caused by massive national debt has kept our economy at very low ebb. By increasing revenues and exports we could have salvaged the position, but things have never gone the way we have been planning. The ground reality is that we usually find it difficult to generate enough revenue and increase exports whereas the expenditure position has all along been getting inflated due to inflationary trends. The minister said that in the past there had never been 100 per cent utilization of ADP funds, in fact it is around 70 per cent of the total ADP outlay. Now the Government is expecting to utilize Rs. 130 billion out of total 160 billion ADP funds, which would be above 80 per cent utilization. Speaking on the occasion, Dy. Collector Sales Tax Syed Mahmood ul Hassan said that national budget would go a long way in strengthening the economy, creating employment opportunities, bringing prosperity to the poor and improving the quality of life. He specially mentioned some of the salient feature of budget 2009-10. He said the present socio-economic problems demanded extra hard work from all of us. Member Executive Committee Lahore Chamber of Commerce and Industry (LCCI) Shahzad Ahmad Khan said that job creation should have been the key priority for solving the poverty and unemployment problem. Renowned economist Prof. Dr. Khawaja Amjad Saeed Principal of Hailey College of Banking & Finance argued the budget was full of presumptive taxes and the unjust policy of relying on indirect taxation had continued over the past eight years. This would affect the masses, and promote consumer economy, he said. Lahore Branch Council chairman Muhammad Imran Afzal said Pakistans tax setup was more pro-rich than pro-poor. Resultantly, the rich paid less tax than they should and poor were compelled to pay taxes in spite of the fact that they had a very low capacity to pay.