FinMin credits govt for 'economic stability'
Finance Minister Muhammad Aurangzeb is interviewed during the G20 Finance Ministers and Central Bank Governors' Meeting at the IMF and World Bank's 2024 annual Spring Meetings in Washington. PHOTO: REUTERS
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Wednesday stated that the government is striving for sustainable and inclusive economic growth, which is essential for the nation's progress and prosperity.
Addressing a meeting at the Sarhad Chamber of Commerce and Industry (SCCI) as the chief guest, alongside Minister of State for Finance and Revenue, Ali Pervaiz Malik, Senator Muhammad Aurangzeb said that the country has achieved economic stability due to the federal government's goal-oriented policies and economic reforms, which are now showing positive effects on people's lives.
He emphasized the government's commitment to broadening the tax base and advancing with a focused approach to transform Pakistan into an export-led economy. The taxation process has been simplified, and the Tax Policy Office will be operationalized within a few days to facilitate taxpayers, industrialists, and the business community.
He further highlighted that information technology and digitalization have been introduced in the Federal Board of Revenue (FBR) to enhance efficiency, save time, and ensure greater transparency in financial affairs. Pakistan, he stated, is moving in the right direction, and the private sector must step forward to play a crucial role in the country's development.
He urged the private sector to take the lead in promoting business and industrialization, particularly in the mineral-rich regions of Khyber Pakhtunkhwa and Balochistan. The government, he assured, would provide full support to facilitate business growth and industrialization, thereby generating employment opportunities for youth and reducing poverty in K-P.
As a result of prudent economic and fiscal policies, he noted that inflation has been brought down to a single-digit level, while rice and IT exports have recorded significant growth over the past year, underscoring the government's commitment to inclusive economic development.
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