Finance Minister Muhammad Aurangzeb has stated that Pakistan’s economic stability has restored the trust of international institutions.
Speaking at a press conference in Islamabad, Aurangzeb highlighted the significant improvement in the country’s economy, attributing this success to the government’s prudent economic policies.
He emphasised that these policies would lead to sustainable economic stability.
Aurangzeb reaffirmed the government’s commitment to digitising the Federal Board of Revenue (FBR) to enhance transparency and eliminate corruption. He stressed the importance of minimising human intervention to make the FBR system free from malpractices.
The minister noted that efforts are underway to bring retailers into the tax net, with 42,000 retailers already registered. He pledged to raise the tax-to-GDP ratio to 13 per cent within the next three years through pragmatic reforms across various sectors of the economy.
Aurangzeb’s remarks came shortly after the government passed the Federal Budget 2024-25 in the National Assembly, ahead of critical discussions with the International Monetary Fund (IMF).
The budget, which included specific amendments, further increased taxes without offering relief to taxpayers.
